| The Hollies (Smethwick) Management Company Ltd |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| The Hollies (Smethwick) Management Company Ltd |
|
| You consider that the company is exempt from an audit for the year ended 31 December 2021. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its surplus or deficit for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We assume the Service charge balances from Residents are collectible as otherwise the surplus is doubtful. This is the responsibility of the Property Managers and Directors. |
| We do not express an opinion as to the adequacy of the Reserve Fund. Subject to the above, in our opinion the Income and Expenditure account is a true and fair view of the service charge accounts and is sufficiently supported by accounts,receipts and other documents which have been produced to us. |
|
| Accountancy Admin Limited |
| Accountants |
| Llwyngwril |
| Gwynedd |
|
| 16 September 2022 |
|
| The Hollies (Smethwick) Management Company Ltd |
| Registered number: |
09851070 |
| Balance Sheet |
| as at 31 December 2021 |
|
| Notes |
|
2021 |
|
2020 |
| £ |
£ |
£ |
£ |
| Current assets |
| Debtors |
3 |
|
1,435 |
|
|
2,617 |
| Cash at bank and in hand |
|
|
803 |
|
|
538 |
|
|
|
2,238 |
|
|
3,155 |
|
| Creditors: amounts falling due within one year |
4 |
|
(210) |
|
|
(2,038) |
|
| Net current assets |
|
|
|
2,028 |
|
|
1,117 |
|
| Net assets |
|
|
|
2,028 |
|
|
1,117 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Reserve Fund for Major Works |
5 |
|
|
1,500 |
|
|
1,000 |
| Income and Expenditure Reserve |
|
|
|
528 |
|
|
117 |
|
| Property funds |
|
|
|
2,028 |
|
|
1,117 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The income and expenditure account has not been delivered to the Registrar of Companies. |
|
|
|
|
| A Benham |
| Director |
| Approved by the board on 16 September 2022 |
|
| The Hollies (Smethwick) Management Company Ltd |
| Notes to the Accounts |
| for the year ended 31 December 2021 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
|
|
Turnover |
|
Turnover represents the invoiced value of Service charges recharged to residents. |
|
|
| 2 |
Employees |
2021 |
|
2020 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2021 |
|
2020 |
| £ |
£ |
|
|
Resident Service Charge Arrears |
1,435 |
|
2,617 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2021 |
|
2020 |
| £ |
£ |
|
|
Service charges Invoiced in advance of current period |
|
|
|
|
- |
|
1,708 |
|
Other creditors |
210 |
|
330 |
|
|
|
|
|
|
210 |
|
2,038 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Reserve Fund for Major Works |
2021 |
|
2020 |
| £ |
£ |
|
|
At 1 January 2021 |
1,000 |
|
500 |
|
Service Charge contribution current year |
500 |
|
500 |
|
|
At 31 December 2021 |
1,500 |
|
1,000 |
|
|
|
|
|
|
|
|
|
| 6 |
Income and Expenditure Reserve |
2021 |
|
2020 |
| £ |
£ |
|
|
At 1 January 2021 |
116 |
|
521 |
|
Surplus/(deficit) for the year |
412 |
|
(404) |
|
|
At 31 December 2021 |
528 |
|
117 |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
|
The company derives its income from the property residents who are also its shareholders. Some of the directors are residents and therefore enter into transactions with the company in the form of service charges to the company.
All such transactions are conducted on the same terms as transactions with other shareholders, and on an arms length basis. |
|
|
| 8 |
Other information |
|
|
The Hollies (Smethwick) Management Company Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
Six Olton Bridge |
|
245 Warwick Road |
|
Solihull |
|
West Midlands |
|
B92 7AH |
