Company Registration No. 10376702 (England and Wales)
38 BROMLEY ROAD FREEHOLD LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
38 BROMLEY ROAD FREEHOLD LIMITED
COMPANY INFORMATION
Directors
A Ceolin
R Sklar
Secretary
Mrs Tracy O'Toole
Company number
10376702
Registered office
C/O Omnicroft Limited
33 Station Road
Rainham
Gillingham
Kent
ME8 7RS
Accountants
Myers Clark
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
38 BROMLEY ROAD FREEHOLD LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4 - 5
38 BROMLEY ROAD FREEHOLD LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2020
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2020.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
A Ceolin
P Hancox
(Resigned 21 May 2021)
R Sklar
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
A Ceolin
Director
25 May 2021
38 BROMLEY ROAD FREEHOLD LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 38 BROMLEY ROAD FREEHOLD LIMITED FOR THE YEAR ENDED 31 DECEMBER 2020
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 38 Bromley Road Freehold Limited for the year ended 31 December 2020 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of 38 Bromley Road Freehold Limited, as a body, in accordance with the terms of our engagement letter dated 26 September 2017. Our work has been undertaken solely to prepare for your approval the financial statements of 38 Bromley Road Freehold Limited
and state those matters that we have agreed to state to the Board of Directors of 38 Bromley Road Freehold Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 38 Bromley Road Freehold Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that 38 Bromley Road Freehold Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and result
of 38 Bromley Road Freehold Limited. You consider that 38 Bromley Road Freehold Limited is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of 38 Bromley Road Freehold Limited. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Myers Clark
26 May 2021
Chartered Accountants
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
38 BROMLEY ROAD FREEHOLD LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2020
31 December 2020
- 3 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
16,097
16,097
Capital and reserves
Called up share capital
4
6
6
Freehold contribution reserve
16,091
16,091
Total equity
16,097
16,097
For the financial year ended 31 December 2020 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their 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 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 25 May 2021 and are signed on its behalf by:
A Ceolin
Director
Company Registration No. 10376702
38 BROMLEY ROAD FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
- 4 -
1
Accounting policies
Company information
38 Bromley Road Freehold Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
C/O Omnicroft Limited, 33 Station Road, Rainham, Gillingham, Kent, ME8 7RS.
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
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
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
Nil
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
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.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
38 BROMLEY ROAD FREEHOLD LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2020
1
Accounting policies
(Continued)
- 5 -
1.6
During the year the company has acted as agent for the lessees of the property at
38 Bromley Road, Beckenham, BR3 5JD
. The funds in relation to the maintenance of the property are held in trust.
As at 31 December 2020 the cash balance held on behalf of the lessees amounted to £15,884.
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 38 Bromley Road Freehold 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
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2020 and 31 December 2020
16,097
Depreciation and impairment
At 1 January 2020 and 31 December 2020
Carrying amount
At 31 December 2020
16,097
At 31 December 2019
16,097
4
Called up share capital
2020
2019
Ordinary share capital
£
£
Issued and fully paid
Ordinary Shares of £1 each
6
6