Pierhead Wharf Management Limited - Limited company accounts 20.1

Pierhead Wharf Management Limited - Limited company accounts 20.1

PIERHEAD WHARF MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 03151374 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 31 December 2020

for

Pierhead Wharf Management Limited
Pierhead Wharf Management Limited (Registered number: 03151374)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Report of the Director 2

Report of the Accountants 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


Pierhead Wharf Management Limited

Company Information
for the Year Ended 31 December 2020







DIRECTOR: D G Ryan



SECRETARY: Lamberts Surveyors Ltd



REGISTERED OFFICE: Aztec Row
3 Berners Road
London
N1 0PW



REGISTERED NUMBER: 03151374 (England and Wales)



BANKERS: HSBC Bank PLC
17 North Street
Taunton
Somerset
TA1 1NA
Page 1
Pierhead Wharf Management Limited (Registered number: 03151374)

Report of the Director
for the Year Ended 31 December 2020

The director presents his report with the financial statements of the company for the year ended 31 December 2020.

PRINCIPAL ACTIVITY
The company is responsible for the management of a residential apartment building, Pierhead Wharf, and incurs expenditure on behalf of the leaseholders. The company is entitled to collect service charges from leaseholders to equal such expenditure.

DIRECTOR
D G Ryan held office during the whole of the period from 1 January 2020 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





D G Ryan - Director


30 September 2021

Page 2
Pierhead Wharf Management Limited

Report of the Accountants to the Director of
Pierhead Wharf Management Limited


As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2020 set out on pages four to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Lawrence Johns
164 Field End Road
Eastcote
Middlesex
HA5 1RH


30 September 2021

This page does not form part of the statutory financial statements

Page 3
Pierhead Wharf Management Limited (Registered number: 03151374)

Income Statement
for the Year Ended 31 December 2020

31.12.20 31.12.19
£    £   

TURNOVER 110,295 108,499

Administrative expenses 110,295 108,499
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR - -

The notes form part of these financial statements

Page 4
Pierhead Wharf Management Limited (Registered number: 03151374)

Balance Sheet
31 December 2020

31.12.20 31.12.19
Notes £    £   
CURRENT ASSETS
Debtors 4 1,694 4,847
Prepayments and accrued income 922 -
Cash at bank 267,173 233,335
269,789 238,182
CREDITORS
Amounts falling due within one year 5 34,875 40,689
NET CURRENT ASSETS 234,914 197,493
TOTAL ASSETS LESS CURRENT
LIABILITIES
234,914
197,493

RESERVES
Maintenance fund 6 234,914 197,493
234,914 197,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 30 September 2021 and were signed by:





D G Ryan - Director


The notes form part of these financial statements

Page 5
Pierhead Wharf Management Limited (Registered number: 03151374)

Notes to the Financial Statements
for the Year Ended 31 December 2020

1. STATUTORY INFORMATION

Pierhead Wharf Management Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Service charge debtors 1,694 4,847

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£    £   
Other creditors 9,552 9,626
Accruals and deferred income 25,323 31,063
34,875 40,689

Page 6 continued...
Pierhead Wharf Management Limited (Registered number: 03151374)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

6. RESERVES
Maintenance
fund
£   

At 1 January 2020 197,493
Profit for the year -
Contributions in year 173,856
Gross interest received 44
Expenditure from reserves (135,285 )
Transfer (to)/from service
charge (1,194 )
At 31 December 2020 234,914

7. CONTINGENT LIABILITIES

The company had no contingent liabilities at the balance sheet date (2019: £NIL).

8. CAPITAL COMMITMENTS

Capital commitments at the balance sheet date amounted to £175,000 (2019: £NIL).

9. RELATED PARTY DISCLOSURES

The director is a director of a company which owns individual leases in Pierhead Wharf.

10. LAMBERTS SURVEYORS LTD

Lamberts Surveyors Ltd have not received any other income from Pierhead Wharf Management Ltd other than that disclosed in the Profit & Loss Account.

Page 7