Company Registration No. 03458895 (England and Wales)
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
ACCOUNTS FOR FILING WITH REGISTRAR
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2018
31 December 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Tangible assets
2
112,500
112,500
Current assets
Debtors
4
298
285
Cash at bank and in hand
2
63,332
60,007
63,630
60,292
Creditors: amounts falling due within one year
5
(2,539)
(1,822)
Net current assets
61,091
58,470
Total assets less current liabilities
173,591
170,970
Capital and reserves
Called up share capital
6
50
50
Share premium account
129,950
129,950
Profit and loss reserves
43,591
40,970
Total equity
173,591
170,970
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 31 December 2018 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 17 September 2019 and are signed on its behalf by:
A Jones
Director
Company Registration No. 03458895
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
1
Accounting policies
Company information
Little Adelphi Freehold Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
3 Bunhill Row, London, EC1Y 8YZ.
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
Turnover
Turnover represents grounds rents and income from locker rentals.
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:
Land and buildings Freehold
No depreciation has been charged on property assets.
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
Cash and cash equivalents
Cash at bank and in hand
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
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, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, are
initially recognised at transaction price
.
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received.
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
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.
1.8
During the year the company has acted as agent for the lessees of the property at The Little Adelphi, 10-14 John Adam Street, London WC2N 6HA. The funds in relation to the maintenance of the property are held in trust. As at 31 December 2018 the cash balance held on behalf of the lessees amounted to £333,920.
The income and expenditure in relation to the maintenance of the common parts of the property held in accordance with the governing leases are shown in separate service charge accounts. These do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Little Adelphi Freehold Company Limited.
2
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2018 and 31 December 2018
112,500
Depreciation and impairment
At 1 January 2018 and 31 December 2018
-
Carrying amount
At 31 December 2018
112,500
At 31 December 2017
112,500
2
Balance at Bank
2018
2017
£
£
Held by the Company
61,401
53,991
Held by Managing Agent
1,931
6,016
63,332
60,007
LITTLE ADELPHI FREEHOLD COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
4
Debtors
2018
2017
Amounts falling due within one year:
£
£
Other debtors
298
285
5
Creditors: amounts falling due within one year
2018
2017
£
£
Corporation tax
614
672
Other creditors
1,925
1,150
2,539
1,822
6
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary shares of £1 each
50
50
50
50