ACCOUNTS - Final Accounts

ACCOUNTS - Final Accounts

WOBURN HOUSE PROPERTY MANAGEMENT COMPANY LIMITED - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 No description of principal activitytruefalse2019-01-01false22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05658826 2019-01-01 2019-12-31 05658826 2018-01-01 2018-12-31 05658826 2019-12-31 05658826 2018-12-31 05658826 c:Director1 2019-01-01 2019-12-31 05658826 d:CurrentFinancialInstruments 2019-12-31 05658826 d:CurrentFinancialInstruments 2018-12-31 05658826 d:CurrentFinancialInstruments d:WithinOneYear 2019-12-31 05658826 d:CurrentFinancialInstruments d:WithinOneYear 2018-12-31 05658826 d:RetainedEarningsAccumulatedLosses 2019-12-31 05658826 d:RetainedEarningsAccumulatedLosses 2018-12-31 05658826 c:FRS102 2019-01-01 2019-12-31 05658826 c:AuditExempt-NoAccountantsReport 2019-01-01 2019-12-31 05658826 c:FullAccounts 2019-01-01 2019-12-31 05658826 c:CompanyLimitedByGuarantee 2019-01-01 2019-12-31 iso4217:GBP xbrli:pure

Registered number: 05658826










Woburn House Property Management Company Limited
(A company limited by guarantee)








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2019
 
Woburn House Property Management Company Limited
 
(A company limited by guarantee)
Registered number: 05658826

Balance sheet
As at 31 December 2019

2019
2018
Note
£
£

  

Current assets
  

Cash at bank and in hand
  
1,036
-

  
1,036
-

Creditors: amounts falling due within one year
 4 
(8,282)
(6,825)

Net current liabilities
  
 
 
(7,246)
 
 
(6,825)

Total assets less current liabilities
  
(7,246)
(6,825)

  

Net liabilities
  
(7,246)
(6,825)


Capital and reserves
  

Profit and loss account
  
(7,246)
(6,825)

  
(7,246)
(6,825)


The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 December 2020.




................................................
Nigel McFarland
Director


The notes on pages 2 to 3 form part of these financial statements.

Page 1
 
Woburn House Property Management Company Limited

(A company limited by guarantee)
 

 
Notes to the financial statements
For the year ended 31 December 2019

1.


General information

The company is a private limited company, incorporated and domiciled in England and Wales. The company's registered office is 16 Bugbrooke Road, Nether Heyford, United Kingdom, NN7 3LT and their principal activity is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. While the impact of the Covid-19 virus has been assessed by the directors, so far as reasonably possible, due to its unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's trade. However, taking into consideration the UK Government's response and the company's planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

 
2.3

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.4

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Page 2
 
Woburn House Property Management Company Limited

(A company limited by guarantee)
 

 
Notes to the financial statements
For the year ended 31 December 2019

4.


Creditors: Amounts falling due within one year

2019
2018
£
£

Other creditors
7,742
6,285

Accruals and deferred income
540
540

8,282
6,825



5.


Investment property

The company owns the freehold interest in Woburn House properties which are subject to long leases and is considered to have nil value.



6.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Every member of the Company undertakes to contribute such amount as may be required, not exceeding £1 to the assets of the Company in the event of the Company being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges, and expenses of winding up the Company, and for the adjustment of the rights of the contributions among themselves.


7.


Related party transactions

The company maintains a loan account with the director Osric Powell. During the year, Osric Powell met expenditure on behalf of the company totalling £1,457 (2018: £1,020). At the balance sheet date the company owed the director £7,154 (2018: £5,697), which is included within "Other creditors".


8.


Controlling party

The company is under the control of the Directors Nigel McFarland and Osric Powell.

Page 3