LIMEHEATH_MANAGEMENT_COMP - Accounts

LIMEHEATH_MANAGEMENT_COMP - Accounts

LIMEHEATH MANAGEMENT COMPANY LIMITED - Company Information

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Company Registration No. 01384104 (England and Wales)
LIMEHEATH MANAGEMENT COMPANY LIMITED
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
LIMEHEATH MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr M Bloom
Mr M Braceiner
Company number
01384104
Registered office
23 Limefield Court
Limefield Road
Salford
Manchester
M7 4LT
Accountants
Jack Ross Chartered Accountants
Barnfield House
The Approach
Manchester
M3 7BX
LIMEHEATH MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
LIMEHEATH MANAGEMENT COMPANY LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The directors present their report and financial statements for the year ended 31 March 2015.
Principal activities

The principal activity of the company continued to be that of the management of the flats known as Limefield Court.

Directors
The following directors have held office since 1 April 2014:
Mr M Bloom
Mr M Braceiner
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 M Bloom
Director
26 June 2015
LIMEHEATH MANAGEMENT COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIMEHEATH MANAGEMENT COMPANY LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 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 Limeheath Management Company Limited for the year ended 31 March 2015 set out on pages 3 to 7 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 Limeheath Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 14 November 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Limeheath Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Limeheath Management Company Limited, 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 Limeheath Management Company Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Limeheath Management Company 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 profit of Limeheath Management Company Limited. You consider that Limeheath Management Company 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 Limeheath Management Company 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.
Jack Ross Chartered Accountants
Barnfield House
The Approach
Manchester
M3 7BX
LIMEHEATH MANAGEMENT COMPANY LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Turnover
17,712
17,800
Administrative expenses
(14,097)
(16,797)
Other operating income
4
-
Operating profit
2
3,619
1,003
Other interest receivable and similar income
3
10
11
Profit on ordinary activities before taxation
3,629
1,014
Tax on profit on ordinary activities
-
-
Profit for the year
8
3,629
1,014
LIMEHEATH MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 4 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
4
59
69
Current assets
Cash at bank and in hand
24,330
18,873
Creditors: amounts falling due within one year
5
(612)
(600)
Net current assets
23,718
18,273
Total assets less current liabilities
23,777
18,342
Creditors: amounts falling due after more than one year
6
(12,017)
(10,211)
11,760
8,131
Capital and reserves
Called up share capital
7
24
24
Profit and loss account
8
11,736
8,107
Shareholders'  funds
11,760
8,131
For the financial year ended 31 March 2015 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 26 June 2015
Mr M Bloom
Director
Company Registration No. 01384104
LIMEHEATH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
1
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).
1.3
Turnover

Turnover represents the value of contributions made by the flat owners towards the maintenance and upkeep of the common parts.

1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% reducing balance
2
Operating profit
2015
2014
£
£
Operating profit is stated after charging:
Depreciation of tangible assets
10
12
3
Investment income
2015
2014
£
£
Bank interest
10
11
10
11
LIMEHEATH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 6 -
4
Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2014 & at 31 March 2015
230
Depreciation
At 1 April 2014
161
Charge for the year
10
At 31 March 2015
171
Net book value
At 31 March 2015
59
At 31 March 2014
69
5
Creditors: amounts falling due within one year
2015
2014
£
£
Trade creditors
-
600
Other creditors
612
-
612
600
6
Creditors: amounts falling due after more than one year
2015
2014
£
£
Provision for roof repairs
11,941
10,135
Provision for car park repairs
76
76
12,017
10,211
7
Share capital
2015
2014
£
£
Allotted, called up and fully paid
24 Ordinary shares of £1 each
24
24
LIMEHEATH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 7 -
8
Statement of movements on profit and loss account
Profit
and loss
account
£
Balance at 1 April 2014
8,107
Profit for the year
3,629
Balance at 31 March 2015
11,736
9
Control

No one person has overall control of the company.

LIMEHEATH MANAGEMENT COMPANY LIMITED
DETAILED TRADING AND PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
2015
2014
£
£
£
£
Turnover
Sales
17,712
17,800
Administrative expenses
(14,097)
(16,797)
3,615
1,003
Other operating income
Sundry income
4
-
Operating profit
3,619
1,003
Other interest receivable and similar income
Bank interest received
10
11
Profit before taxation
20.49%
3,629
5.70%
1,014
LIMEHEATH MANAGEMENT COMPANY LIMITED
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 31 MARCH 2015
2015
2014
£
£
Administrative expenses
Insurance
1,557
1,680
Light and heat
941
797
Cleaning
1,692
1,748
Waste disposal
-
45
Roofing repairs
953
1,635
Bin area repairs
-
1,405
Fencing repairs
200
780
Door repairs
35
355
Electrical repairs
314
1,523
Provision for roof repairs
1,805
1,595
Repairs and maintenance
44
300
Grounds maintenance
4,056
2,325
Printing, postage and stationery
19
31
Secretarial expenses
1,770
1,626
Accountancy
612
600
Bank charges
76
87
Sundry expenses
13
253
Depreciation on plant and machinery
10
12
14,097
16,797
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