Locks Lane Management Company Limited - Period Ending 2021-12-31

Locks Lane Management Company Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Profit and Loss Account	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Unaudited Financial Statements	7 to 8

Locks Lane Management Company Limited

Company Information

Director

J O Rainback

Company secretary

Dickinson Bowden Secretarial Services Limited

Registered office

62 High West Street Dorchester Dorset DT1 1UY

Accountants

Edwards & Keeping Chartered Accountants Unity Chambers 34 High East Street Dorchester Dorset DT1 1HA

Locks Lane Management Company Limited

Director's Report for the Year Ended 31 December 2021

The director presents his report and the financial statements for the year ended 31 December 2021.

Director of the company

The director who held office during the year was as follows:

J O Rainback

Principal activity

The principal activity of the company is the provision of property management services.

The company owns the freehold reversion of the premises at Locks Lane, Stratton, Dorchester, Dorset subject to 999 year leases on 12 leasehold properties.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 14 July 2022 and signed on his behalf by:

Dickinson Bowden Secretarial Services Limited Company secretary

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Locks Lane Management Company Limited
for the Year Ended 31 December 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Locks Lane Management Company Limited for the year ended 31 December 2021 as set out on pages 4 to 8 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 at
http://www.icaew.com/regulation.

This report is made solely to the of Director of Locks Lane Management Company Limited, in accordance with the terms of our engagement letter dated 6 February 2020. Our work has been undertaken solely to prepare for your approval the accounts of Locks Lane Management Company Limited and state those matters that we have agreed to state to the Director of Locks Lane Management Company Limited, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Locks Lane Management Company Limited and its Director for our work or for this report.

It is your duty to ensure that Locks Lane Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Locks Lane Management Company Limited. You consider that Locks Lane 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 accounts of Locks Lane 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 accounts.

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

1 August 2022

Locks Lane Management Company Limited

Profit and Loss Account
for the Year Ended 31 December 2021

	2021   £	2020   £
Turnover	6,720	6,775
Administrative expenses	(4,139)	(5,105)
Operating profit	2,581	1,670
Profit before tax	2,581	1,670
Taxation	-	-
Profit for the financial year	2,581	1,670

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Locks Lane Management Company Limited

(Registration number: 1259867)
Balance Sheet as at 31 December 2021

	Note	2021		2020
		£	£	£	£
Current assets
Debtors	4		968		859
Cash at bank and in hand			8,461		4,616
			9,429		5,475
Creditors: Amounts falling due within one year	5		(2,198)		(825)
Net assets			7,231		4,650
Depreciation fund
Depreciation fund		7,231		4,650
Profit and loss account		-		-
			7,231		4,650

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 14 July 2022
 

J O Rainback
Director

Locks Lane Management Company Limited

Statement of Changes in Equity
for the Year Ended 31 December 2021

	Depreciation fund £	Profit and loss account £	Total £
At 1 January 2021	4,650	-	4,650
Profit for the year	-	2,581	2,581
Total comprehensive income	-	2,581	2,581
Transfers	2,581	(2,581)	-
At 31 December 2021	7,231	-	7,231

	Depreciation fund £	Profit and loss account £	Total £
At 1 January 2020	2,980	-	2,980
Profit for the year	-	1,670	1,670
Total comprehensive income	-	1,670	1,670
Transfers	1,670	(1,670)	-
At 31 December 2020	4,650	-	4,650

Locks Lane Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
62 High West Street
Dorchester
Dorset
DT1 1UY
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from residents for services performed in the ordinary course of business.
 

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.
 

Locks Lane Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

3	Staff numbers

The average number of persons employed by the company during the year, was 0 (2020 - 0). The average number of directors on the board during the year was 1 (2020 - 1).

4

Debtors

	2021 £	2020 £
Amounts due from lessees	600	515
Prepayments	368	344
	968	859

5

Creditors

	2021 £	2020 £
Due within one year
Amounts received in advance from lessees	1,192	290
Accruals and other creditors	1,006	535
	2,198	825