Labfull Flat Management Company Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 01447850 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2022

for

Labfull Flat Management Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

L A Brown

J H Buckingham

T Abood

M Garrett

REGISTERED OFFICE:

Central House

124 High Street Hampton Hill

Hampton

TW12 1NS

REGISTERED NUMBER:

01447850 (England and Wales)

ACCOUNTANTS:

Garside and Co. Limited

Suite 631, Linen Hall

162-168 Regent Street

London

W1B 5TG

CURRENT ASSETS

Debtors

4

1,180

991

Cash at bank

40,626

43,401

41,806

44,392

CREDITORS

Amounts falling due within one year

5

(5,356

)

(1,936

)

NET CURRENT ASSETS

36,450

42,456

TOTAL ASSETS LESS CURRENT LIABILITIES

36,450

42,456

RESERVES

Income and expenditure account

36,450

42,456

36,450

42,456

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 surplus or deficit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2022 and were signed on its behalf by:

J H Buckingham - Director

L A Brown - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going Concern

The Financial Statements are prepared on the going concern basis for the year, under the historical costconvention and in accordance with Financial Reporting Standard and comply with the financial reporting standards of the Financial Reporting Council and the Companies Act 2006.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue represents amount receivable for handling the service charges for flats 1 to 21 Ravensmede Way.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are show within borrowings in current liabilities.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Trade and other creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Short term creditors are measured at transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade debtors

1,180

991

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.22

31.5.21

£

£

Trade creditors

3,676

256

Other creditors

1,680

1,680

5,356

1,936

6.	LIMITATION BY GUARANTEE

The company is limited by guarantee and does not have a share capital. The liability for members in the event of winding up is limited to an amount not exceeding £1 per member.

7.

TAXATION

No liability to UK Corporation Tax arose on ordinary activities for the year ended 31 May 2022 nor for the year ended 31 May 2021.

The company is mutual and does not trade for profit.