Abbreviated Company Accounts - PRENTICE COURT MANAGEMENT COMPANY LIMITED

PRENTICE COURT MANAGEMENT COMPANY LIMITED - Company Information

Registered Number 02596602

PRENTICE COURT MANAGEMENT COMPANY LIMITED

Abbreviated Accounts

31 December 2014

PRENTICE COURT MANAGEMENT COMPANY LIMITED Registered Number 02596602

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	3	9,921	9,921
		9,921	9,921
Total assets less current liabilities		9,921	9,921
Total net assets (liabilities)		9,921	9,921
Reserves
Other reserves		9,921	9,921
Members' funds		9,921	9,921

For the year ending 31 December 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 25 September 2015

And signed on their behalf by:
P Fudakowski, Director

PRENTICE COURT MANAGEMENT COMPANY LIMITED Registered Number 02596602

Notes to the Abbreviated Accounts for the period ended 31 December 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Income comprises of ground rents receivable under the terms of the lease of garage 9.
Income and expenditure arising from transactions relating to maintenance of the common parts in accordance with the lease are shown in separate service charge accounts for the property that do not form part of annual accounts of the company and are not filed at Companies House. All service charge monies received from the residents of Prentice Court are held on trust for the residents.

Tangible assets depreciation policy
This represents the freehold reversion in the land and buildings at Prentice Court Leopald Avenue, Wimbledon, London SW19 stated at cost. The leases run for 999 years from 24 April 1991.
The freehold interest in the property is stated at cost. The directors assess annually the need to provide for any impairment in recoverable amount below cost.

Other accounting policies
Contractual commitments
The company contracts with third parties in its own name for the supply of services to the property for maintenance of common parts in accordance with the terms of the lease. At 31st December 2014 the company had not entered into any non-cancellable contractual commitments.

2Company limited by guarantee
The company is limited by guarantee with 21 members and has no share capital. In the event of it being wound up, every member of the company undertakes to contribute to the assets of the company while they are a member, or within one year afterwards, for payment of the debts and liabilities of the Company contracted before they ceased to be a member and the costs, charges and expenses of winding up, such amount as may be required, not exceeding £1 per member.

3Tangible fixed assets

	£
Cost
At 1 January 2014	9,921
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	9,921
Depreciation
At 1 January 2014	0
Charge for the year	-
On disposals	-
At 31 December 2014	0
Net book values
At 31 December 2014	9,921
At 31 December 2013	9,921

The company acquired the freehold interest in the properties at Prentice Court on 8th June 1992.
Members provided capital contributions towards the costs of the freehold reversion and the formation of the company.