Clarence Court (Hunstanton) Management - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01102738 (England and Wales)

CLARENCE COURT (HUNSTANTON)

MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTORS:

Mr W G Hawkins

Mr K Reynolds

Mr W D Moss

Mr D H Mountcastle

Mr S P Ball

Ms A J Foster

SECRETARY:

Mrs C R Hawkins

REGISTERED OFFICE:

The Office

20 King's Lynn Road

Hunstanton

Norfolk

PE36 5HP

REGISTERED NUMBER:

01102738 (England and Wales)

CURRENT ASSETS

Debtors

4

2,272

2,209

Cash at bank and in hand

42,346

23,902

44,618

26,111

CREDITORS

Amounts falling due within one year

5

20,884

8,060

NET CURRENT ASSETS

23,734

18,051

TOTAL ASSETS LESS CURRENT LIABILITIES

23,734

18,051

RESERVES

Income and expenditure account

23,734

18,051

23,734

18,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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 surplus or deficit 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure account has not been delivered.

The financial statements were approved by the Board of Directors on 20 March 2019 and were signed on its behalf by:

Mr W G Hawkins - Director

1.	STATUTORY INFORMATION

Clarence Court (Hunstanton) 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 represents invoiced and accrued service charge, ground rent and other reimbursed expenses.

Operating lease

The company is the holder of a headlease with a term of 999 years effective 25 December 1972, under which it has

covenanted to pay the holder of the freehold interest a yearly ground rent of £35 for each of the 24 flats in the building

(total commitment £840 per annum). Ground rent is collected from the individual tenants in the sum of £35 per annum in

accordance with the terms of their underleases. The ground rent is accounted for as incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments

2,272

2,209

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

683

Trade creditors

14,654

2,324

Accruals

1,760

1,798

Income received in advance

4,470

3,255

20,884

8,060

6.	LEASING AGREEMENTS

At 31 December 2018, the company had total commitments under a non-cancellable operating lease over the remaining life

of the lease being 953 years at £840 per annum totalling £800,520 (2017 - £801,360)

7.	GENERAL INFORMATION

Controlling party

The company, which is the Superior Leaseholder, is controlled on a day to day basis by the directors, who are also members

and tenants of the company.

Residential Management Company Status

The service charges, fees and ground rent income received by the company are solely derived from the tenants who are also

members of the company.

Under Section 42 Landlord and Tenant Act 1987 funds received from tenants as variable service charges (and in respect of

the rent for onward payment to the landlord) are held under a statutory trust, and, accordingly, these funds, being held for

the benefit of the tenants, are held by the company as cash in hand and in the company's bank account.

In the opinion of the directors, the company's activities are fully mutual, and for this reason, it is considered that there is no

requirement for a separate bank account, outside the company, to be set up in which to hold surplus funds.

Directors and Officers Liability Insurance

During the year, the company paid a £296 (2017 - £299) premium in respect of Directors and Officers Liability Insurance

for the protection of the directors.

8.	GUARANTORS

The company is limited by guarantee. The liability of each member as per the Memorandum and Articles of Association is

limited to £1 .