Company Registration No. 02692992 (England and Wales)
RAVENSBROOK FLAT MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2021
PAGES FOR FILING WITH REGISTRAR
RAVENSBROOK FLAT MANAGEMENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
RAVENSBROOK FLAT MANAGEMENT LIMITED
BALANCE SHEET
AS AT
29 SEPTEMBER 2021
29 September 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
3
28,255
35,181
Creditors: amounts falling due within one year
4
(6,926)
Net current assets
28,255
28,255
Capital and reserves
Called up share capital
5
6
6
Profit and loss reserves
28,249
28,249
Total equity
28,255
28,255
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 29 September 2021 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 19 May 2022 and are signed on its behalf by:
A Percival
Director
Company Registration No. 02692992
RAVENSBROOK FLAT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2021
- 2 -
1
Accounting policies
Company information
Ravensbrook Flat Management Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
68 Queens Gardens, London, W2 3AH.
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
.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price
.
1.3
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.
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.
RAVENSBROOK FLAT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2021
1
Accounting policies
(Continued)
- 3 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
During the year the company has acted as agent for the lessees of the property 60 Cambridge Gardens, North Kensington, London, W10 6HR. The funds in relation to the maintenance of the property are held in trust. As at 29 September 2021 the cash balance held on behalf of the lessees amounted to £5,162.
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 not filed at Companies House. The accounts can be obtained from Ravensbrook Flat Management Limited.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
3
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
28,255
35,181
4
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
6,626
Other creditors
300
6,926
RAVENSBROOK FLAT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2021
- 4 -
5
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
6
6
6
6