Clarence Court (Hunstanton) Management - Accounts to registrar (filleted) - small 18.2
Clarence Court (Hunstanton) Management - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED (REGISTERED NUMBER: 01102738) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED (REGISTERED NUMBER: 01102738) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income and Expenditure account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED (REGISTERED NUMBER: 01102738) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Clarence Court (Hunstanton) Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced and accrued service charge, ground rent and other reimbursed expenses. |
Operating lease |
The company is the holder of a headlease with a term of 999 years effective 25 December 1972, under which it has covenanted to pay the holder of the freehold interest a yearly ground rent of £35 for each of the 24 flats in the building (total commitment £840 per annum). Ground rent is collected from the individual tenants in the sum of £35 per annum in accordance with the terms of their underleases. The ground rent is accounted for as incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Accruals |
Income received in advance |
6. | LEASING AGREEMENTS |
At 31 December 2020, the company had total commitments under a non-cancellable operating lease over the remaining life of the lease being 951 years at £840 per annum totalling £798,840 (2019 - £799,680). |
CLARENCE COURT (HUNSTANTON) |
MANAGEMENT LIMITED (REGISTERED NUMBER: 01102738) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
7. | GENERAL INFORMATION |
Controlling party |
The company, which is the Superior Leaseholder, is controlled on a day to day basis by the directors, who are also members and tenants of the company. |
Residential Management Company Status |
The service charges, fees and ground rent income received by the company are solely derived from the tenants who are also members of the company. |
Under Section 42 Landlord and Tenant Act 1987 funds received from tenants as variable service charges (and in respect of the rent for onward payment to the landlord) are held under a statutory trust, and, accordingly, these funds, being held for the benefit of the tenants, are held by the company as cash in hand and in the company's bank account. |
In the opinion of the directors, the company's activities are fully mutual, and for this reason, it is considered that there is no requirement for a separate bank account, outside the company, to be set up in which to hold surplus funds. |
Directors and Officers Liability Insurance |
During the year, the company paid a £279 (2020 - £260) premium in respect of Directors and Officers Liability Insurance for the protection of the directors. |
8. | GUARANTORS |
The company is limited by guarantee. The liability of each member as per the Memorandum and Articles of Association is limited to £1 . |