Mutualphase Property Management Limited - Accounts to registrar (filleted) - small 18.2
Mutualphase Property Management Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2020 |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2020 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| Chartered accountants' report | 5 |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 May 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Lygon House |
| 50 London Road |
| Bromley |
| Kent |
| BR1 3RA |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029) |
| BALANCE SHEET |
| 31 May 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on on its behalf by: |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Mutualphase Property Management Limited is a |
| 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 |
| Turnover |
| Turnover represents maintenance contributions received from shareholders. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent |
| that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively |
| enacted by the balance sheet date. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | and |
| property | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2019 |
| and 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 May 2020 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other creditors |
| 7. | RELATED PARTY DISCLOSURES |
| The shares of Mutualphase Property Management Limited are owned by a large number of investors. No investor acting |
| individually has the ability to control the activities of the company and consequently it is considered that there is no |
| ultimate controlling party as defined by Financial Reporting Standard No.8 "Related Party Disclosures". |
| During the year a company controlled by Mr J.M. Needham, his wife, provided services to the company amounting to |
| £14,213 (2019: £14,723). |
| 8. | CASH AT BANK |
| The bank balance, representing service charge monies received by a residential management company in accordance with |
| the terms of the lease agreement, is held in a statutory trust under Section 42 of the Landlord and Tenant Act 1987. It is not |
| an asset of the company, however, until the overall correct accounting treatment of residential management companies has |
| been finalised under Financial Reporting Exposure Draft 50 (Residential Management Companies' Financial Statements), |
| draft Financial Reporting Council Abstract 1, the directors have decided that it should remain in the balance sheet. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| MUTUALPHASE PROPERTY MANAGEMENT LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
| financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance sheet. |
| Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are |
| not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial |
| statements of Mutualphase Property Management Limited for the year ended 31 May 2020 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 Mutualphase Property 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 Mutualphase Property Management Limited and state those matters that we have agreed to state to the Board of Directors of Mutualphase Property 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 Mutualphase Property Management Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Mutualphase Property 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 loss of Mutualphase Property Management Limited. You consider that Mutualphase Property 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 Mutualphase Property 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. |
| Chartered Accountants |
| Lygon House |
| 50 London Road |
| Bromley |
| Kent |
| BR1 3RA |