78 Cathcart Road Management Limited - Limited company accounts 18.1.1

REGISTERED NUMBER: 03516752 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

78 CATHCART ROAD MANAGEMENT LIMITED

Page

Company Information

1

Report of the Directors

2

Chartered Accountants' Report

3

Income Statement

4

Balance Sheet

5

Notes to the Financial Statements

6

DIRECTORS:

Charles Pettiward

Guy Stephenson

SECRETARY:

Ruskin House Company Services Limited

REGISTERED OFFICE:

Ruskin House

40-41 Museum Street

London

WC1A 1LT

REGISTERED NUMBER:

03516752 (England and Wales)

ACCOUNTANTS:

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

The directors present their report with the financial statements of the company for the year ended 31 December 2017.

PRINCIPAL ACTIVITY

The company's principal activities comprise the control, supervision and management, on behalf of the lessees, of the

site known as 78 Cathcart Road, London SW10 9DJ with no interest in the reversionary freehold.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2017 to the date of this report.

Charles Pettiward

Guy Stephenson

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have 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 directors must not

approve the financial statements unless they are 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 directors

are 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 directors are 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 them to ensure that the financial statements comply with the Companies Act 2006. They are 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:

Guy Stephenson - Director

14 September 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of 78 Cathcart Road Management Limited for the year ended 31 December 2017 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of 78 Cathcart Road Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 78 Cathcart Road Management Limited and state those matters that we have agreed to state to the Board of Directors of 78 Cathcart Road Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 78 Cathcart Road Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that 78 Cathcart Road Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 78 Cathcart Road Management Limited. You consider that 78 Cathcart Road Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 78 Cathcart Road Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Websters

12 Melcombe Place

Marylebone

London

NW1 6JJ

18 September 2018

SERVICE CHARGES RECEIVABLE

10,486

8,409

Service charge expenditure

(10,486

)

(8,409

)

GROSS PROFIT

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

5

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Debtors

6

2,127

2,076

CREDITORS

Amounts falling due within one year

7

(2,122

)

(2,071

)

NET CURRENT ASSETS

5

TOTAL ASSETS LESS CURRENT
LIABILITIES

5

CAPITAL AND RESERVES

Called up share capital

5

SHAREHOLDERS' FUNDS

5

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 September 2018 and were signed on its behalf
by:

Guy Stephenson - Director

1.	STATUTORY INFORMATION

78 Cathcart Road Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006.

The financial statements are also prepared in accordance with the Institute of Chartered Accountants in England

and Wales ("ICAEW") Technical Release "Tech 03/11" and taking account of subsequent legal counsel's opinion

obtained separately by both ICAEW and the Financial Reporting Council in determining whether a management

company acts as principal when contracting with third party suppliers to the property's service charge.

Service charges receivable

Service charges receivable comprises the reimbursement of service charge expenditure deployed by the

management company on behalf of the service charge fund for 78 Cathcart Road.

Recognition of income

Service charges receivable is recognised in the financial statements concurrently with the recognition of the

service charge expenditure that is being funded.

3.	EMPLOYEES AND DIRECTORS

There were no employees during the year.

4.	OPERATING PROFIT

The directors received no remuneration in respect of their services to the company for the year.

5.

TAXATION

Service charge funds are held by the company in trust for the tenants and hence any income tax chargeable at

the rate applicable to such trusts is not reflected in these accounts.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Other debtors

2,127

2,076

Included within other debtors is a balance of £1,862 (2016: £1,816) due from the service charge fund which is

held in trust by the company for the benefit of the lessees of 78 Cathcart Road, London SW10 9DJ.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

Other creditors

2,122

2,071

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by a voting majority of its shareholders and accordingly there is no controlling related

party.