21_ROYAL_YORK_CRESCENT_MA - Accounts

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LIMITED - Company Information

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Company Registration No. 02648456 (England and Wales)

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

COMPANY INFORMATION

Directors

Mr T Haines

Mrs S G Moore

Mr J H Sims Williams

Secretary

Mr Terence Haines

Company number

02648456

Registered office

Courtyard Flat

21 Royal York Crescent

BRISTOL

BS8 4JX

Accountants

Prowting and Partners Ltd

6 West Park

Clifton

BRISTOL

BS8 2LT

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

CONTENTS

Page

Directors' report

Accountants' report

Profit and loss account

Balance sheet

Notes to the financial statements

5 - 6

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

DIRECTORS' REPORT

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 1 -

The directors present their report and financial statements for the year ended 30 September 2014.

Directors

The following directors have held office since 1 October 2013:

Mr T Haines

Mrs S G Moore

Mr J H Sims Williams

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

Mr T Haines

Director

16 June 2015

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD FOR THE YEAR ENDED 30 SEPTEMBER 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 21 Royal York Crescent Management Company Ltd for the year ended 30 September 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.

This report is made solely to the Board of Directors of 21 Royal York Crescent Management Company Ltd, as a body, in accordance with the terms of our engagement letter dated 7 March 2008. Our work has been undertaken solely to prepare for your approval the financial statements of 21 Royal York Crescent Management Company Ltd and state those matters that we have agreed to state to the Board of Directors of 21 Royal York Crescent Management Company 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 21 Royal York Crescent Management Company Ltd and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that 21 Royal York Crescent Management Company 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 21 Royal York Crescent Management Company Ltd. You consider that 21 Royal York Crescent Management Company 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 21 Royal York Crescent Management Company 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

16 June 2015

Chartered Accountants

6 West Park

Clifton

BRISTOL

BS8 2LT

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 3 -

2014

2013

Notes

Loss on ordinary activities before taxation

Tax on loss on ordinary activities

Loss for the year

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

BALANCE SHEET

AS AT

30 SEPTEMBER 2014

- 4 -

2014

2013

Notes

Current assets

Cash at bank and in hand

8,704

4,476

Creditors: amounts falling due within one year

(8,704)

(4,476)

Total assets less current liabilities

Capital and reserves

Shareholders' funds

For the financial year ended 30 September 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the Board for issue on 16 June 2015

Mr T Haines

Director

Company Registration No. 02648456

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 5 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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).

Creditors: amounts falling due within one year

2014

2013

Other creditors

8,704

4,476

Share capital

The company is incorporated as a company limited by guarantee and not having a share capital. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are a member or within one year afterwards, for the payment of debts and liabilities of the company contracted before ceasing to be a member, and of the costs, charges and expenses of winding up and for the adjustment of the rights of the contributors amongst themselves, such an amount as may be required but not exceeding £1.

21 ROYAL YORK CRESCENT MANAGEMENT COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2014

- 6 -

Trust account

As previously reported, recent guidance has been issued on the preparation of accounts of property management companies where the company owns the freehold of a block of flats and is the landlord for the purposes of the 1985 Landlord and Tenant Act.

The management company does not own the transactions relating to service charge expenditure and the collection of monies from the tenant leaseholders because under section 42 of the Landlord and Tenant Act 1987 service charges are regarded as trust funds.

Accordingly, a summary of transactions in respect of those trust funds is set out below.

2014

2013

Service charges collected

7,400

6,800

Share registration

Less expenses:

Lighting

117

109

Insurance

1,679

1,569

Cleaning

575

520

Repairs and maintenance

510

897

Bank charges

Accountancy charges

360

Sundry expenses

164

__________

3,490

3,711

__________

3,910

3,124

Surplus as 30 September 2013

3,801

677

__________

7,711

3,801

__________

Represented by:-

Cash held by the company

8,704

4,476

Amounts owing

993

675

__________

7,711

3,801

__________