53_SPRINGFIELD_ROAD_MANAG - Accounts
53_SPRINGFIELD_ROAD_MANAG - Accounts
Company Registration No. 03401068 (England and Wales)
FOR THE YEAR ENDED 31 JULY 2014
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2014
- 1 -
The directors present their report and financial statements for the year ended 31 July 2014.
Directors
The following directors have held office since 1 August 2013:
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 53 SPRINGFIELD ROAD MANAGEMENT LTD FOR THE YEAR ENDED 31 JULY 2014
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 53 Springfield Road Management Ltd for the year ended 31 July 2014 set out on pages 3 to 6 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of 53 Springfield Road Management Ltd, as a body, in accordance with the terms of our engagement letter dated 7 April 2005. Our work has been undertaken solely to prepare for your approval the financial statements of 53 Springfield Road Management Ltd and state those matters that we have agreed to state to the Board of Directors of 53 Springfield Road Management Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 53 Springfield Road Management Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that 53 Springfield Road Management Ltd 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 loss of 53 Springfield Road Management Ltd. You consider that 53 Springfield Road Management Ltd 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 53 Springfield Road Management Ltd. 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.
Prowting and Partners Ltd
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 JULY 2014
- 3 -
2014
2013
Notes
£
£
Turnover
-
Administrative expenses
-
(5 )
Loss on ordinary activities before taxation
-
-
Tax on loss on ordinary activities
-
-
Loss for the year
-
-
BALANCE SHEET
AS AT
31 JULY 2014
- 4 -
2014
2013
Notes
£
£
£
£
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
2
(4,915 )
(3,525 )
Total assets less current liabilities
Capital and reserves
Called up share capital
3
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 15 April 2015
Director
Company Registration No. 03401068
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2014
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
2
Creditors: amounts falling due within one year
2014
2013
£
£
Other creditors
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
4
Control
The company is owned by each of the three shareholders, who are also owners of the three flats that comprise the building. Accordingly no individual shareholder controls the company. All three shareholders jointly control the company.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2014
- 6 -
5
Service charge accounts
The company has no income or expenditure in its own right except for the ground rent paid, all
the transactions in the year being related to the maintenance of the common parts in accordance
with the lease. Service charges collected are held on trust for the purpose of meeting the relevant
costs in relation to the property in accordance with the provisions of section 42 of the Landlord and
Tenant Act 1987.
A summary of the transactions during the year in respect of the service charge trust account funds
is set out below:-
2014
2013
£
£
Service charges collected:
1,800
1,495
Expenditure:
Insurance
767
714
Administration
300
-
Sundry expenses
5
14
Bank charges
68
70
Professional fees
342
396
1,482
1,194
Surplus
318
301
Surplus at 31 July 2013
3,247
2,946
3,565
3,247
Represented by:-
Cash held by the company
4,915
3,525
Prepaid expenditure
420
412
Amounts owed
1,770
690
3,565
3,247