Highfield Flat Owners Limited - Limited company accounts 20.1

REGISTERED NUMBER: 04366909 (England and Wales)

Report of the Directors and

Unaudited Financial Statements

for the Year Ended

28 February 2021

for

Highfield Flat Owners Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Dr W Pepper

Ms J Snowball

D J Finch

SECRETARY:

AMS Marlow Ltd

REGISTERED OFFICE:

Swan House

39 Savill Way

Marlow

SL7 1UB

REGISTERED NUMBER:

04366909 (England and Wales)

ACCOUNTANTS:

Jacksons Accountants (Ascot) Limited

The Old Bakehouse

Course Road

Ascot

Berkshire

SL5 7HL

The directors present their report with the financial statements of the company for the year ended 28 February 2021.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 March 2020 to the date of this report.

Dr W Pepper

Ms J Snowball

D J Finch

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D J Finch - Director

15 October 2021

TURNOVER

28,780

32,781

Administrative expenses

27,201

32,800

OPERATING PROFIT/(LOSS)

1,579

(19

)

Interest receivable and similar income

23

27

PROFIT BEFORE TAXATION

1,602

8

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

1,602

8

FIXED ASSETS

Tangible assets

5

6,500

CURRENT ASSETS

Debtors

6

4,583

1,564

Cash at bank

63,599

52,446

68,182

54,010

CREDITORS

Amounts falling due within one year

7

1,362

1,010

NET CURRENT ASSETS

66,820

53,000

TOTAL ASSETS LESS CURRENT
LIABILITIES

73,320

59,500

PROVISIONS FOR LIABILITIES

12,218

-

NET ASSETS

61,102

59,500

CAPITAL AND RESERVES

Called up share capital

11

Other reserves

3,058

Retained earnings

58,033

56,431

SHAREHOLDERS' FUNDS

61,102

59,500

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 in accordance with Section 476 of the Companies Act 2006.

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 profit or loss 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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2021 and were signed on its behalf by:

D J Finch - Director

1.	STATUTORY INFORMATION

Highfield Flat Owners Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents service charges levied on residents based on budgeted expenditure for the year. This company is not registered for VAT.

Tangible fixed assets

No depreciation is provided on the buildings as the residual value is considered to be sufficiently high so as to make depreciation immaterial.

Taxation

The company is a non-profit making enterprise and surpluses or deficits arising as a result of differences between service charges levied (based on estimated costs) and actual costs incurred do not fall within the scope of corporation tax. Tax is payable on investment income only.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	RESIDENTIAL MANAGEMENT TRANSACTIONS

A statutory trust is imposed over service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and the company therefore acts as a trustee in this capacity. As such the closing balance of cash and other assets are held in trust by the company.

5.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 March 2020

and 28 February 2021

6,500

NET BOOK VALUE

At 28 February 2021

6,500

At 29 February 2020

6,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

Other debtors

11

Prepayments and accrued income

4,572

-

Amounts owed by leaseholders

-

1,553

4,583

1,564

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

Amounts owed to leaseholders

237

-

Accrued expenses

1,125

1,010

1,362

1,010