King George Court (Chelmsford) Management Company Limited Filleted accounts for Companies House (small and micro)

KING GEORGE COURT (CHELMSFORD) MANAGEMENT COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05498465

King George Court (Chelmsford) Management Company Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 March 2023

King George Court (Chelmsford) Management Company Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2023

	2023		2022
Note	£	£	£	£

Current assets

Debtors	6	376	2
Cash at bank and in hand		50,011	49,718
		--------	--------
		50,387	49,720

Creditors: amounts falling due within one year	7	13,793		8,844
		--------		--------
Net current assets			36,594		40,876
			--------		--------
Total assets less current liabilities			36,594		40,876
			--------		--------

Capital and reserves

Building maintenance reserve	36,594	39,331
Profit and loss account	–	1,545
	--------	--------
Members funds	36,594	40,876
	--------	--------

These financial statements have been prepared and delivered 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'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small 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 10 October 2023 , and are signed on behalf of the board by:

M Compton

Director

Company registration number: 05498465

King George Court (Chelmsford) Management Company Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2023

1. General information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Goldlay House, 114 Parkway, Chelmsford, Essex, CM2 7PR.

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.

Revenue recognition

Turnover represents service charges and ground rent receivable during the year.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Average number of employees

The average number of employees during the year was 2 (2022: 2) which consisted of the directors only.

5. Company limited by guarantee

Every member of the Company undertakes to contribute to the assets of the Company in the event of its being wound up while he is a member or within one year afterwards for payment of the debts and liabilities of the Company contracted before he ceases to be a member and the costs, charges and expenses of winding up and for the adjustment of the rights and contributories among themselves such amount as may be required, not exceeding one pound.

6. Debtors

	2023	2022
	£	£
Prepayments and accrued income	267	–
Service charges in arrears	109	2
	----	----
	376	2
	----	----

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Service charges received in advance	12,593	7,669
Expenses invoiced after the year end	1,200	1,175
	--------	-------
	13,793	8,844
	--------	-------

8. Related party transactions

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8. There is considered to be no ultimate controlling party.