THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED - Company Information

Print Friendly Version

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Company limited by guarantee

Company Registration Number:
03048135 (England and Wales)

Unaudited statutory accounts for the year ended 31 March 2019

Period of accounts

Start date: 1 April 2018

End date: 31 March 2019

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2019

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Profit And Loss Account

for the Period Ended 31 March 2019

2019 2018


£
£
Turnover: 282,538 11,809,489
Gross profit(or loss): 282,538 11,809,489
Administrative expenses: ( 655,557 ) ( 15,499,295 )
Other operating income: 2,442 2,088,203
Operating profit(or loss): (370,577) (1,601,603)
Interest receivable and similar income: 4,312 7,933,178
Interest payable and similar charges: ( 202,000 )
Profit(or loss) before tax: (366,265) 6,129,575
Tax: ( 1,202,474 )
Profit(or loss) for the financial year: (366,265) 4,927,101

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Balance sheet

As at 31 March 2019

Notes 2019 2018


£
£
Current assets
Debtors: 3 526,909 301,726
Cash at bank and in hand: 455,371 934,281
Total current assets: 982,280 1,236,007
Creditors: amounts falling due within one year: 4 ( 280,812 ) ( 168,275 )
Net current assets (liabilities): 701,468 1,067,732
Total assets less current liabilities: 701,468 1,067,732
Total net assets (liabilities): 701,468 1,067,732
Members' funds
Profit and loss account: 701,468 1,067,732
Total members' funds: 701,468 1,067,732

The notes form part of these financial statements

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Balance sheet statements

For the year ending 31 March 2019 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 16 October 2019
and signed on behalf of the board by:

Name: Aman Dalvi
Status: Director

The notes form part of these financial statements

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is recognised at the fair value of the consideration received or receivable for sale of services to external customers in the ordinary nature of the business. Turnover is shown next if Value Added Tax.

    Other accounting policies

    Interest Income: Interest income is accrued on a time-apportioned basis, by reference to the principal outstanding the effective interest rate.Agency Arrangements: Income and expenditure is included in the statement of comprehensive income where the group is acting as principal and bears the risks and rewards associated with those arrangements, rather than acting as as an agent. Only the fee earned by the Company in connection with agency arrangements is included within other operating income.

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

  • 2. Employees

      2018
    Average number of employees during the period 168

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

3. Debtors

2019 2018
£ £
Trade debtors 17,550 152,238
Prepayments and accrued income 55,020 1,025
Other debtors 454,339 148,463
Total 526,909 301,726

Included in other debtors are amounts for Other taxes and social security (2019: 422481 2018: 134661)

THE ROYAL BOROUGH OF KENSINGTON AND CHELSEA TENANT MANAGEMENT ORGANISATION LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2019

4. Creditors: amounts falling due within one year note

2019 2018
£ £
Bank loans and overdrafts 140,229 56,646
Accruals and deferred income 126,225 111,629
Other creditors 14,358
Total 280,812 168,275