Witham Lodge Management Company Limited - Limited company accounts 20.1

REGISTERED NUMBER: 04423856 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021

FOR

WITHAM LODGE MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Dr S K Thomason

D P Vaughan

SECRETARY:

P W Bigge

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

04423856 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2021 to the date of this report.

Dr S K Thomason

D P Vaughan

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

ON BEHALF OF THE BOARD:

Dr S K Thomason - Director

28th September 2022

INCOME

16,476

15,865

Service charge expenditure

18,722

16,066

OPERATING LOSS

(2,246

)

(201

)

Interest receivable and similar income

7

15

LOSS BEFORE TAXATION

(2,239

)

(186

)

Tax on loss

4

-

LOSS FOR THE FINANCIAL YEAR

(2,239

)

(186

)

CURRENT ASSETS

Debtors

5

15,204

12,653

CREDITORS

Amounts falling due within one year

6

15,193

12,642

NET CURRENT ASSETS

11

TOTAL ASSETS LESS CURRENT
LIABILITIES

11

CAPITAL AND RESERVES

Called up share capital

7

11

SHAREHOLDERS' FUNDS

11

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28th September 2022 and were signed on its behalf by:

Dr S K Thomason - Director

1.	STATUTORY INFORMATION

Witham Lodge Management Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

During the year the company received monies from lessees, as agents, in respect of service charges and associated income, which are held on trust and do not constitute turnover.

Presentation of the income statement

The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company accounts in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the management of the property.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

31/12/21

31/12/20

£

Directors' remuneration

-

4.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31st December 2021 nor for the year ended 31st December 2020.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

Other Debtors

108

72

Bank balances held by managing agent

10,179

10,639

Recoverable Service Charge Deficit

2,033

-

Prepayments

2,884

1,942

15,204

12,653

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

Trade creditors

4,820

3,087

Service Charge Surplus

-

206

Reserve Fund

9,473

8,473

Accrued expenses

900

876

15,193

12,642

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/21

31/12/20

value:

£

11

Ordinary

£1

11

8.

RESERVES

Retained

earnings

£

Deficit for the year

(2,239

)

Transfer to Service Charge Account

2,239

At 31st December 2021

-

9.	RELATED PARTY DISCLOSURES

The company is a mutual trading company and as such received income in the form of service charge from residents, some of who are directors of the company. Service charges payable by the directors are on the same basis as for all the other residents. No other transactions with related parties were undertaken such as are required to be disclosed under the FRS 102.