ACCOUNTS - Final Accounts

EGERTON CRESCENT GARDEN LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-313The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalse2022-06-013false 08010170 2022-06-01 2023-05-31 08010170 2021-06-01 2022-05-31 08010170 2023-05-31 08010170 2022-05-31 08010170 c:Director3 2022-06-01 2023-05-31 08010170 d:CurrentFinancialInstruments 2023-05-31 08010170 d:CurrentFinancialInstruments 2022-05-31 08010170 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 08010170 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 08010170 d:ShareCapital 2023-05-31 08010170 d:ShareCapital 2022-05-31 08010170 c:OrdinaryShareClass1 2022-06-01 2023-05-31 08010170 c:OrdinaryShareClass1 2023-05-31 08010170 c:OrdinaryShareClass1 2022-05-31 08010170 c:FRS102 2022-06-01 2023-05-31 08010170 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 08010170 c:FullAccounts 2022-06-01 2023-05-31 08010170 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 08010170 d:CurrentFinancialInstruments 6 2023-05-31 08010170 d:CurrentFinancialInstruments 6 2022-05-31 08010170 2 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08010170

EGERTON CRESCENT GARDEN LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

EGERTON CRESCENT GARDEN LIMITED

REGISTERED NUMBER: 08010170

BALANCE SHEET

AS AT 31 MAY 2023

		2023		2022
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	4,998		5,205
Cash at bank and in hand		30,862		28,565
		35,860		33,770
Creditors: amounts falling due within one year	6	(35,831)		(33,741)
Net current assets			29		29
Total assets less current liabilities			29		29

Net assets			29		29

Capital and reserves
Called up share capital	9	29	29
		29	29

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

Mr Mark R Stolkin

Director

Date: 23 October 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1

EGERTON CRESCENT GARDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

1.	General information

Egerton Crescent Garden Limited is a private company limited by shares incorporated in England within the United Kingdom. The address of the registered office is 9 Spring Street, London, W2 3RA. The Company is not part of a group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

2.2

Income

Income comprises revenue recognised by the Company in respect of service charges demanded in the year.

2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date.

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The

Page 2

EGERTON CRESCENT GARDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

2.5

Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

EGERTON CRESCENT GARDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

4.	Tangible Fixed Assets
	The Company owns the garden at Egerton Crescent, London, SW3 and pursuant to a Declaration of Trust it holds the garden on behalf of its shareholders.

Debtors

					2023	2022
					£	£


Trade debtors	3,003	2,850
Deficit	-	487
Other debtors and prepayments	1,995	1,868
	4,998	5,205

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Service charges received in advance	950	-
Other creditors	27,043	27,530
Accruals and deferred income	5,525	6,211
Surplus	2,313	-
	35,831	33,741

7.	Reserve Fund
		2023	2022
		£	£


Balance brought forward	27,530	22,941
2021 surplus	-	4,589
2022 (deficit)	(487)	-
Demanded/(Credited) in the year	-	-
	27,043	27,530

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EGERTON CRESCENT GARDEN LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

8.	Related party transactions
	During the year concerned, the directors have transacted with the Company. The transactions were for service charges demanded in accordance with their Garden Access Agreements.

9.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

29 (2022 - 29) ordinary shares of £1 each	29	29

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