Accounts filed on 30-11-2014
Accounts filed on 30-11-2014
trueSmoke House Quay Management Limited052471632014-11-30792107116214437371162144116214411621443216034738322763688210970133672130623515Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The accounts recognised in the period, the income charged, the expenditure incurred and the determined provision for identified liabilities and the provisions are required under the terms of the lease agreement. A contribution fund of £20,784 (2013 - £26,616) is provided for in the accounts in relation to the redecoration of the building, in line with the lease agreement.
The tenants proportions of the service charge are calculated on the basis of 1/26 of the service and maintenance of the applicable lift costs plus 1/37 of the remaining estimated expenditure, a calculation inconsistent with certain lease agreements.
Turnover
The turnover represents the value of invoices for services supplied during the year. The service charge during the year of £3,635 (2013 - £3,635) relates to the lift expenditure element and the service charge of £43,201 (2013 - £43,863) relates to the remaining expenditure.
Recognition of the Service Charge
The service charge is invoiced quarterly in advance on 1 February, 1 May, 1 August and 1 November for the period commencing one month later. The accounts recognise the service charge as arising in the period when the charge is first raised. No provision is made in the accounts for the amount of any prepayment of the service charge, as each quarter relates to the accounting period.Insurance
The insurance policy arising during the period is renewed on 19 August each year and is accounted for in the period in which the policy is enacted. A provision is made in the accounts for the amount of any prepayment of the insurance paid and any accrued income relating to insurance monies received.
Deferred insurance income brought forward £5,920 (2013 - £5,421)
Insurance charged in the period £4,298 (2013 - £4,797)
Less: deferred insurance income £4,233 (2013 - £4,298)
Total insurance income £5,985 (2013 - £5,920)
Ground rent
In previous years ground rent was not collected by the agent but was payable direct to the landlord by the tenants. In the current year ground rent has been paid directly to the agent.
Lift Servicing and Maintenance
The lift service contract arising during the period is renewed on 1 October each year and is accounted for in the period in which the policy is enacted. A prepayment is made in the accounts for the amount of the service contract that relates to a later period. Brought forward service contract prepayment £2,319 (2013 - £2,276) less: brought forward provision for lift maintenance £64(2013 - £753) add: service charge contract during the period £2,835 (2013 - £2,861)
add: other lift maintenance charges £414 (2013 - £1,506)
less: prepayment in the accounts £2,364 (2013 - £2,319)
add: provision for lift maintenance £431 (2013 - £64)
total lift servicing & maintenance £3,571 (2013 - 3,635)
There are no fixed assets.
There are no fixed assets.
There are none falling due after more than one year.
Ordinary13737372015-08-25Miss G. M. Tuckertruetruetruetruexbrli:sharesiso4217:GBPxbrli:pureSmoke House Quay Management Limited2013-12-012014-11-30Smoke House Quay Management Limited2012-12-012013-11-30Smoke House Quay Management Limited2012-11-30Smoke House Quay Management Limited2013-11-30Smoke House Quay Management Limited2013-11-30Smoke House Quay Management Limited2014-11-30 2015-08-26
