Company Registration No. 11205376 (England and Wales)
CAMDEN HIGHLINE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
CAMDEN HIGHLINE
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
CAMDEN HIGHLINE
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 1 -
2020
2019
Notes
£
£
£
£
Current assets
Debtors
3
29,659
-
Cash at bank and in hand
41,707
-
71,366
-
Creditors: amounts falling due within one year
4
(6,917)
-
Net current assets
64,449
-
Reserves
Income and expenditure account
64,449
-
Members' funds
64,449
-
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.
true
For the financial Year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 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 29 October 2020 and are signed on its behalf by:
S Pitkeathley
Director
Company Registration No. 11205376
CAMDEN HIGHLINE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 2 -
1
Accounting policies
Company information
Camden Highline is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
5-7 Collective Auction Rooms, 5-7 Buck Street, London, United Kingdom, NW1 8NJ.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
A
true
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Taxation
The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.
1.6
Trade and other receivables
Trade and other receivables are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of future receipts discounted at the prevailing market interest.
1.7
Trade and other payables are measured at transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest.
CAMDEN HIGHLINE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Year was:
2020
2019
Number
Number
Total
3
-
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
29,659
-
4
Creditors: amounts falling due within one year
2020
2019
£
£
Taxation and social security
6,917
-
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
6
Events after the reporting date
Camden Highline became a registered charity on the 4 September 2020 (charity number 1191150).
7
Related party transactions
Included in debtors is a balance of £29,659 due from Camden Town Centre, a company which is under common control of the directors.