Porthmeor Beach Flats Management Ltd - Abbreviated accounts

Porthmeor Beach Flats Management Ltd - Abbreviated accounts


Registered number
05652918
Porthmeor Beach Flats Management Ltd
Abbreviated Accounts
31 December 2014
Porthmeor Beach Flats Management Ltd
Registered number: 05652918
Abbreviated Balance Sheet
as at 31 December 2014
Notes 2014 2013
£ £
Current assets
Cash at bank and in hand 786 193
Creditors: amounts falling due within one year (781) (188)
Net current assets 5 5
Net assets 5 5
Capital and reserves
Called up share capital 2 5 5
Shareholders' funds 5 5
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
T Catling
Director
Approved by the board on 5 September 2015
Porthmeor Beach Flats Management Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
The company follows current guidance for residents' property management companies
published by the Financial Reporting Council and Institute of Chartered Accountants
in England and Wales.

All transactions that are related to property management in accordance with the lease, are
trust transactions, shown in separate trust accounts which do not form part of the accounts
of the company. Service charges collected are held on trust for the purpose of meeting the
relevant costs in relation to the property. The Financial Reporting Council has taken legal
advice which states that although the company is entitled to be reimbursed by the residents'
trust for the property costs it incurs it enters into such transactions as principal, not as agent,
so the costs and reimbursement should be shown in the company profit and loss account.

Adoption of this prsentation represents a change in accounting policy which is therefore adopted in current year figures on the profit and loss account, and the comparatives have been restated. There is no effect on the balance sheet, or reserves.
2 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 200 5 5
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