WINSFORD_COURT_HENDON_(MA - Accounts

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 period ended 31 July 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.

The members have not required the company to obtain an audit of its financial statements for the period 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.

Winsford Court Hendon (Management) Limited is a private company limited by shares incorporated in England and Wales. The registered office is c/o Sears Morgan Pm Limited, Suite A2 Kebbell House, Delta Gain, Carpenders Park, Watford, WD19 5EF.

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 amounts 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.

The company has chosen to lengthen its reporting year end from 31 January to 31 July. The reason for the change is to align the company accounts with the service charge year end for which they own the freehold interest and act as agent on behalf of the lessees.

Turnover represents ground rents receivable

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:

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.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments of FRS 102 to all of its financial instruments.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised. Financial assets classified as receivable within one year are not amortised.

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, including creditors, bank loans and other loans that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. .

Status

During the year the company has acted as agent for the lessees of the property at Winsford Court, 9-11 Tenterden Grove, London NW4 1SZ. The funds in relation to the maintenance of the property are held in trust. As at 31 July 2020 the cash balance held on behalf of the lessees amounted to £30,774

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 Winsford Court Hendon (Management) Limited.

The average monthly number of persons (including directors) employed by the company during the period was:

There were two prior year adjustments made in the year:

1) Loans from the shareholders to acquire the freehold interest and cover legal costs were previously disclosed within long-term creditors. The loans have no fixed terms of repayment or interest agreement and are therefore considered to b payable on demand. Under FRS 102 these loans are considered to be due within 12 months and have therefore be reclassified to current liabilities.

2) The funds held by the managing agent were previously disclosed as cash at bank and in hand, however these funds are not held in a designated bank account and have therefore been reclassified to debtors as amounts owing to the company.