Company Registration No. 05844726 (England and Wales)
CLOISTERS COURT (FREEHOLD) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
ACCOUNTS FOR FILING WITH REGISTRAR
CLOISTERS COURT (FREEHOLD) LIMITED
COMPANY INFORMATION
Directors
M Tudor
R Bennion
L Bailly
A Stephany
C Lawrence
(Appointed 26 June 2017)
Company number
05844726
Registered office
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
Accountants
Myers Clark
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
CLOISTERS COURT (FREEHOLD) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CLOISTERS COURT (FREEHOLD) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2017
30 June 2017
- 1 -
2017
2016
Notes
£
£
£
£
Current assets
Debtors
2
16
16
Net current assets
16
16
Capital and reserves
Called up share capital
3
16
16
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 June 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 by the board of directors and authorised for issue on 31 January 2018 and are signed on its behalf by:
M Tudor
Director
Company Registration No. 05844726
CLOISTERS COURT (FREEHOLD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2017
- 2 -
1
Accounting policies
Company information
Cloisters Court (Freehold) 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.
These financial statements for the year ended 30 June 2017
are the
first
financial statements of Cloisters Court (Freehold) Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2015. An explanation of how transition to FRS 102 has affected the reported financial position and financial performance is given in note 4.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method.
Financial assets classified as receivable within one year are not amortised.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. .
CLOISTERS COURT (FREEHOLD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2017
1
Accounting policies
(Continued)
- 3 -
1.5
During the year the company has acted as agent for the lessees of the property at Cloisters Court, 77 Cromwell Avenue, Highgate, London N6 5XG. The funds in relation to the maintenance of the property are held in trust. As at 30 June 2017 the cash balance held on behalf of the lessees amounted to £46,233.
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 Cloisters Court (Freehold) Limited.
2
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
16
16
3
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and not fully paid
16 Ordinary Shares of £1 each
16
16
4
Reconciliations on adoption of FRS 102
Reconciliation of equity
1 July
30 June
2015
2016
£
£
Equity as reported under previous UK GAAP and under FRS 102
16
16
Reconciliation of profit for the financial period
2016
£
Profit as reported under previous UK GAAP and under FRS 102
-
Notes to reconciliations on adoption of FRS 102
There were no adjustments to the prior year accounts as a result of the adoption of FRS 102.