Company Registration No. 02677412 (England and Wales)
THE TOWERS ENGEL PARK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
ACCOUNTS FOR FILING WITH REGISTRAR
THE TOWERS ENGEL PARK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
THE TOWERS ENGEL PARK LIMITED
BALANCE SHEET
AS AT 30 JUNE 2020
30 June 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
14,131
14,131
Creditors: amounts falling due within one year
4
(578)
(570)
Net current assets
13,553
13,561
Capital and reserves
Called up share capital
5
5
5
Profit and loss reserves
13,548
13,556
Total equity
13,553
13,561
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 November 2020
N Rawal
Director
Company Registration No. 02677412
THE TOWERS ENGEL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2020
- 2 -
1
Accounting policies
Company information
The Towers Engel Park Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Egale 1, 80 St Albans Road, Watford, Hertfordshire, WD17 1DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price
.
Basic financial liabilities
Basic financial liabilities
are
initially recognised at transaction price
.
1.3
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
THE TOWERS ENGEL PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2020
1
Accounting policies
(Continued)
- 3 -
1.5
During the year the company has acted as agent for the lessees of the property at
10 Engel Park , Mill Hill London NW7 2HB
. The funds in relation to the maintenance of the property are held in trust. As at 30 June 2020 the cash balance held on behalf of the lessees amounted to £23,042.
The company therefore has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from The Towers Engel Park Limited.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
-
-
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
14,131
14,131
4
Creditors: amounts falling due within one year
2020
2019
£
£
Corporation tax
578
570
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
5 Ordinary Shares of £1 each
5
5