St Paul's Place Management Company - Limited company accounts 20.1

St Paul's Place Management Company - Limited company accounts 20.1

ST PAUL'S PLACE MANAGEMENT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 04828527 (England and Wales)










REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED (REGISTERED NUMBER: 04828527)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: G Illingworth
J P Whiteside





SECRETARY: J P Whiteside





REGISTERED OFFICE: C/O Bradshaws
Well House Barns
Chester Road
Bretton
Chester
CH4 0DH





REGISTERED NUMBER: 04828527 (England and Wales)





ACCOUNTANTS: Websters
12 Melcombe Place
London
NW1 6JJ
Page 1
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED (REGISTERED NUMBER: 04828527)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MARCH 2022

The directors present their report with the financial statements of the company for the year ended 31 March 2022.

PRINCIPAL ACTIVITY
The company's principal activities comprise the control, supervision and management, on behalf of the lessees, of the site known as St Paul's Place, Sheffield. The Sheffield City Council owns the reversionary freehold interest of the shared and common areas of the development.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 April 2021 to the date of this report.

G Illingworth
J P Whiteside

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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:





J P Whiteside - Director


6 April 2023

Page 2
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of St Paul's Place Management Company Limited for the year ended 31 March 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of St Paul's Place Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of St Paul's Place Management Company Limited and state those matters that we have agreed to state to the Board of Directors of St Paul's Place Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than St Paul's Place Management Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that St Paul's Place Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of St Paul's Place Management Company Limited. You consider that St Paul's Place Management Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of St Paul's Place Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Websters
12 Melcombe Place
London
NW1 6JJ


6 April 2023

This page does not form part of the statutory financial statements

Page 3
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED (REGISTERED NUMBER: 04828527)

INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2022

31.3.22 31.3.21
Notes £    £   

SERVICE CHARGES RECEIVABLE 633,389 531,641

Service charge expenditure (633,389 ) (531,682 )
GROSS LOSS - (41 )

OPERATING LOSS 4 - (41 )

Interest receivable and similar income - 41
PROFIT BEFORE TAXATION - -

Tax on profit 5 - -
PROFIT FOR THE FINANCIAL YEAR - -

The notes form part of these financial statements

Page 4
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED (REGISTERED NUMBER: 04828527)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £   
CURRENT ASSETS
Debtors 6 201,944 212,816

CREDITORS
Amounts falling due within one year 7 (201,937 ) (212,809 )
NET CURRENT ASSETS 7 7
TOTAL ASSETS LESS CURRENT
LIABILITIES
7
7

CAPITAL AND RESERVES
Called up share capital 7 7
7 7

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 6 April 2023 and were signed on its behalf by:





J P Whiteside - Director


The notes form part of these financial statements

Page 5
ST PAUL'S PLACE MANAGEMENT COMPANY
LIMITED (REGISTERED NUMBER: 04828527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

St Paul's Place Management Company 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.

The presentation currency of the financial statements is the Pound Sterling (£).



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.

Service charges receivable
Service charges receivable comprises the reimbursement of service charge expenditure deployed by the management company on behalf of the service charge fund for St Paul's Place.

Recognition of income
Service charges receivable are recognised in the financial statements concurrently with the recognition of the service charge expenditure that is being funded.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. OPERATING LOSS

The directors received no remuneration in respect of their services to the company for the year.

5. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 31 March 2022 nor for the year ended 31 March 2021.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 39,824 8,212
Other debtors 162,120 204,604
201,944 212,816

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade creditors 148,476 172,131
Other creditors 53,461 40,678
201,937 212,809

8. ULTIMATE CONTROLLING PARTY

The ultimate controlling party during the period was CTP (Wakefield) Limited, by virtue of its ownership of the 1 "B" ordinary share in the company which gave them voting control.

Page 6