The Gladstone Court Management Company (Nottingham) Limited
The Gladstone Court Management Company (Nottingham) Limited
Registered number: 10565875
Unaudited Financial Statements
For The Year Ended
31 December 2021
FHP Accounting Services Limited
The Gladstone Court Management Company (Nottingham) Limited
Unaudited Financial Statements
For The Year Ended
31 December 2021
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 2 |
The Gladstone Court Management Company (Nottingham) Limited
Balance Sheet
As at
31 December 2021
Balance Sheet
Registered number:
10565875
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2021 | |||
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| Notes | £ | £ | |
| CURRENT ASSETS | |||
| Debtors | 3 |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET ASSETS |
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The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
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Director
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The notes on page 2 form part of these financial statements.
The Gladstone Court Management Company (Nottingham) Limited
Notes to the Financial Statements
For The Year Ended
31 December 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 5
3.
Debtors
| 2021 | |
|---|---|
| £ | |
| Due within one year | |
| Prepayments and accrued income |
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4.
Creditors: Amounts Falling Due Within One Year
| 2021 | |
|---|---|
| £ | |
| Other creditors |
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| Accruals and deferred income |
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5.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
6.
Turnover, cash balances and other assets
Turnover
The Company is responsible for the management of the property at The Gladstone Court Management Company (Nottingham) Limited. The Company collects service charges from leaseholders in accordance with the terms of the lease agreement in order to fund expenditure incurred in the management of the property. These service charge funds are held in trust for the lessees which is imposed under Section 42 of the Landlord and Tenant Act 1987.
During the year the Company incurred expenditure in fulfilling its obligations under the terms of the lease for the property. The total costs incurred are recorded in the Company’s income and expenditure account as funds collected from lessees to discharge obligations under the lease. To meet these obligations the Company draws from service charge funds held in trust on behalf of the lessees.
A detailed summary of expenditure incurred in the period is made available to the lessees of the property under the terms of the lease.
Cash balances and other assets
Cash at bank does not include unspent amounts of service charge funds held in the Company’s bank account. Instead these unspent service charge funds are held in trust by the Company under Section 42 of the Landlord and Tenant Act 1987.
At the year end the amount of funds held in trust was £243 (2020 - £506).
7.
General Information
The Gladstone Court Management Company (Nottingham) Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
10565875
. The registered office is C/O Kay Johnson Gee, 1 City Road East, Manchester, M15 4PN.