IRIS Accounts Production
Software
04680700
1.1.15
31.12.15
31.12.15
Company accounts
Private Limited Company
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Ordinary
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Total £ COST OR VALUATION At 1 January 2015 and 31 December 201520,000 Repayment of loan offset in previous years30,000 31 December 201550,000 NET BOOK VALUE At 31 December 201550,000 At 31 December 201420,000 The company's freehold is subject to residential and commercial leases. In the directors' opinion the 2011 gross valuation of the freehold property was £50,000, against which the £30,000 charge inherited in 2004 had been offset. The charge against the freehold title was registered in 1997 in connection with an advance by a corporate leaseholder to the previous freehold company, with the transfer of the freehold title to Down Street Freehold Company Limited in 2004 being made subject to such charge. The charge was released in 2015, following the company's repayment of the £30,000 advance. During the year the company granted an option for £100,000 to the leaseholder of the commercial premises. This gives that leaseholder the option to convert that unit to residential premises. The valuation of £50,000 is based on the directors' assessment of the freehold title´s value in use to the company at 31 December 2011, which is based on the capitalisation of future receipts of ground rent and assumes there is no cost of collection because such process is carried out by the property´s managing agent together with the collection of service charges.The directors consider that the valuation of the freehold at 31 December 2015 is unchanged.
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04680700
2014-12-31
04680700
2015-12-31
04680700
2015-01-01
2015-12-31
04680700
2013-12-31
04680700
2014-01-01
2014-12-31
04680700
2014-12-31
04680700
ns12:England
2015-01-01
2015-12-31
04680700
ns14:PoundSterling
2015-01-01
2015-12-31
04680700
ns7:Director1
2015-01-01
2015-12-31
04680700
ns7:OrdinaryShareClass1
2015-01-01
2015-12-31
04680700
ns7:Director2
2015-01-01
2015-12-31
04680700
ns7:Director3
2015-01-01
2015-12-31
04680700
ns7:Director4
2015-01-01
2015-12-31
04680700
ns7:Director5
2015-01-01
2015-12-31
04680700
ns7:CompanySecretary
2015-01-01
2015-12-31
04680700
ns7:RegisteredOffice
2015-01-01
2015-12-31
04680700
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2015-12-31
04680700
ns5:InvestmentProperties
2015-12-31
04680700
ns5:InvestmentProperties
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04680700
ns7:OrdinaryShareClass1
2015-12-31
04680700
ns7:OrdinaryShareClass1
2014-12-31
REGISTERED NUMBER:
04680700
(England and Wales)
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ABBREVIATED UNAUDITED ACCOUNTS
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FOR THE YEAR ENDED 31 DECEMBER 2015
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DOWN STREET FREEHOLD COMPANY LIMITED
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Abbreviated Balance Sheet
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2
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Notes to the Abbreviated Accounts
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4
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SECRETARY:
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London Registrars PLC |
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REGISTERED OFFICE:
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Suite A, 6 Honduras Street
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REGISTERED NUMBER:
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04680700 (England and Wales)
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ACCOUNTANTS:
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Sargeant Partnership
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Investment property
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2
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50,000
|
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20,000
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|
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Amounts falling due within one year
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10,389
|
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11,857
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|
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NET CURRENT ASSETS/(LIABILITIES)
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39,197
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(10,114
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) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES
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89,197
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9,886
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|
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Called up share capital
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3
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111,041
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87,033
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Profit and loss account
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(21,844
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) |
(102,769
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) |
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SHAREHOLDERS' FUNDS
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89,197
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9,886
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The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for:
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(a)
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and
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(b)
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preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2006 relating to financial statements, so far as applicable to the company.
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The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. |
The financial statements were approved by the Board of Directors on
20 May 2016 and were signed on its
behalf by:
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The financial statements have been prepared under the historical cost convention and in accordance
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with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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The company is the freehold owner of the property known as 22&23 Down Street and 12 &12 A
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Brick Street, W1J, London. Its activities are exclusively dedicated to the ownership of the freehold
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title and carrying-out the responsibilities related thereto.
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Its revenues comprise the ground rents and other receipts relating to the property's 27 long-term
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leasehold units and a management charge to the property's service charge fund in order to recover
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expenses incurred for independent professional services related to the governance of the company. It
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does not pay fees to any of its directors.
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The company's treasury operations ( cash & bank movements and balances) are handled by
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Blenheims Estate and Asset Management Limited, the managing agent of the property.
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Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from
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changes in market value is transferred to a revaluation reserve.
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No depreciation is charged in line with Statement of Standard Accounting Practice No.19 Accounting
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for Investment Properties.
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At 1 January 2015 and 31 December 2015
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20,000
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|
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Repayment of loan offset in previous years
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30,000
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|
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At 31 December 2015
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50,000
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|
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At 31 December 2014
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20,000
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|
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The company's freehold is subject to residential and commercial leases.
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|
In the directors' opinion the 2011 gross valuation of the freehold property was £50,000, against which
|
|
the £30,000 charge inherited in 2004 had been offset.
|
|
The charge against the freehold title was registered in 1997 in connection with an advance by a
|
|
corporate leaseholder to the previous freehold company, with the transfer of the freehold title to
|
|
Down Street Freehold Company Limited in 2004 being made subject to such charge. The charge was
|
|
released in 2015, following the company's repayment of the £30,000 advance.
|
|
During the year the company granted an option for £100,000 to the leaseholder of the commercial
|
|
premises. This gives that leaseholder the option to convert that unit to residential premises.
|
|
The valuation of £50,000 is based on the directors' assessment of the freehold title´s value in use to
|
|
the company at 31 December 2011, which is based on the capitalisation of future receipts of ground
|
|
rent and assumes there is no cost of collection because such process is carried out by the property´s
|
|
managing agent together with the collection of service charges.The directors consider that the
|
|
valuation of the freehold at 31 December 2015 is unchanged.
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3.
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CALLED UP SHARE CAPITAL
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Allotted, issued and fully paid:
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Number:
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Class:
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Nominal
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2015
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2014
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|
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111,041
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Ordinary
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£1
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111,041
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87,033
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|
|
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24,008 Ordinary shares of £1 were issued during the year
for cash of £
24,008
.
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Assets and liabilities relating to service charges are held by the company in trust for the leaseholders,
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under s.42 of the Landlord and Tenants Act 1987 and so are excluded from these accounts.
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