Snow Hill Residents Property Management Limited Company accounts

Snow Hill Residents Property Management Limited Company accounts

SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05081937
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
Company Limited by Guarantee
UNAUDITED FINANCIAL STATEMENTS
31 August 2021
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2021
Contents
Page
Officers and professional advisers
1
Directors' report
2
Statement of financial position
3
Notes to the financial statements
4
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
COMPANY LIMITED BY GUARANTEE
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
H Spalton
S Whitford
Registered office
9A Macklin Street
London
WC2B 5NE
Accountants
UHY Hacker Young
Chartered Accountants
168 Church Road
Hove
BN3 2DL
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT
YEAR ENDED 31 AUGUST 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 August 2021 .
The company has been dormant as defined in section 1169 of the Companies Act 2006 throughout the year and preceding financial year. It is anticipated that the company will remain dormant for the foreseeable future.
Directors
The directors who served the company during the year were as follows:
H Spalton
S Whitford
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 1 October 2021 and signed on behalf of the board by:
H Spalton
Director
Registered office:
9A Macklin Street
London
WC2B 5NE
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
31 August 2021
2021
2020
Note
£
£
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 31 August 2021 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 October 2021 , and are signed on behalf of the board by:
H Spalton
Director
Company registration number: 05081937
SNOW HILL RESIDENTS PROPERTY MANAGEMENT LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 AUGUST 2021
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 9A Macklin Street, London, WC2B 5NE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Contractual commitments
The company contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts in accordance with the terms of the leases. At 31 August 2021 the company had not entered into any non-cancellable contractual commitments.
Service charge accounts
The company has no income or expenditure in its own right, all transactions in the year being related to the maintenance of the common parts in accordance with the lease. Service charges collected are held on trust for the purposes of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
On the 11th March 2020 the WHO declared Covid 19 a pandemic and the UK went into lockdown. The result of the lockdown and social isolation has meant nearly all forms of services were prohibited.
The directors do not expect Covid 19 to have a material effect on going concern.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in members funds during the current year or prior year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Company limited by guarantee
The company is limited by guarantee with no share capital.
5. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102. The lessees are the owners of the company and contribute to the service charge for the property in accordance with the proportions prescribed within their leases on an arms length basis. There is no ultimate controlling party.