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LIMEHOUSE BASIN (LONDON) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
REGISTERED NUMBER: 09518960
BALANCE SHEET
AS AT 31 MARCH 2022
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 December 2022.
The notes on pages 2 to 3 form part of these financial statements.
Page 1
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LIMEHOUSE BASIN (LONDON) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
The company is a private limited company, limited by guarantee, incorporated in Wales. The registered address is Woodland Place, Wickford Business Park, Hurricane Way, Wickford, Essex, SS11 8YB.
The principle activity of the company is that of residential property management.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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.
Short-term creditors are measured at the 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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 0 (2021 - 0).
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Prepayments and accrued income
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Page 2
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LIMEHOUSE BASIN (LONDON) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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The company is a private company limited by guarantee and consequently does not have share capital.
This company acts as a trustee and holds service charge monies in trust under Section 42 Landlord and Tenant Act 1987 on behalf of the residents of the property which it manages. The amount of service charge monies held at the year end totals £271,483 (2021: £260,647). This amount is not shown on the balance sheet of these financial statements as the money is not an asset of the company.
Page 3
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