| Baden Powell Court Management Company Limited |
| Registered number: |
05150409 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 24 June 2023. |
|
| Principal activities |
| The company's principal activity during the year continued to be the management and adminstration of Baden Powell Court, Charterhouse Road, Godalming, Surrey, GU7 2AW. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Mr D B S Coakley |
|
Mr T G Soudan |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 22 March 2024 and signed on its behalf. |
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|
|
|
|
| Mr T G Soudan |
| Director |
|
| Baden Powell Court Management Company Limited |
| Accountants' Report |
|
|
| Accountants' report to the directors of |
| Baden Powell Court Management Company Limited |
|
| You consider that the company is exempt from an audit for the year ended 24 June 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. |
| In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. |
| We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. |
|
| A&G Accountants |
| Accountants |
|
| 36 Moulsham Lane |
| Yateley |
| Hampshire |
| GU46 7QY |
|
| 22 March 2024 |
|
| Baden Powell Court Management Company Limited |
| Registered number: |
05150409 |
| Balance Sheet |
| as at 24 June 2023 |
|
| Notes |
|
|
2023 |
|
|
2022 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
20,931 |
|
|
20,910 |
| Cash at bank and in hand |
|
|
5,757 |
|
|
3,871 |
|
|
|
26,688 |
|
|
24,781 |
|
| Creditors: amounts falling due within one year |
4 |
|
(379) |
|
|
(379) |
|
| Net current assets |
|
|
|
26,309 |
|
|
24,402 |
|
| Net assets |
|
|
|
26,309 |
|
|
24,402 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1,401 |
|
|
1,401 |
| Profit and loss account |
|
|
|
24,908 |
|
|
23,001 |
|
| Shareholders' funds |
|
|
|
26,309 |
|
|
24,402 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
| Mr T G Soudan |
| Director |
| Approved by the board on 22 March 2024 |
|
| Baden Powell Court Management Company Limited |
| Notes to the Accounts |
| for the year ended 24 June 2023 |
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|
| 1 |
Accounting policies |
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|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
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Turnover is the amount of maintenance contributions and sundry fees receivable from the residents and property owners in the year. The minimum maintenance contributions are laid down in the lease between each flat-owner and the freeholder. Additional maintenance contributions may be levied when considered necessary by the board. |
|
|
Major maintenance reserve fund |
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The Major Maintenance Reserve Fund is intended to cover the costs of substantial periodic works to the property. The current annual minimum target contribution to the fund is 1/6 of 1% of the insured rebuild costs with an initial target balance of 2.5% of the insured rebuild cost within 10 years. The current insured rebuild cost is £2,834,000 (2022 - £2,834,000) generating a contribution of £4,723 (2022 - £4,723) and a target amount of £70,850. This target figure will be affected by inflation. Thereafter, depending on how pronounced the obsolescence of the property becomes, a target of 5% of the insured rebuild costs will be set. In order to achieve this, it is anticipated that the annual maintenance contributions will be increased from the current levels. Thereafter a rolling target balance will be maintained with outflows from the fund generally matching inflows. The fund is not repayable to members or ex-members. In 2020 a major outlay in the region of £46,000 on roof repairs was paid out, therefore the reserve will need to be replenished. |
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|
Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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The company is a flat management company and as such only charges corporation tax on any investment income. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2023 |
|
2022 |
| Number |
Number |
|
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Average number of persons employed by the company |
- |
|
- |
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|
| 3 |
Debtors |
2023 |
|
2022 |
| £ |
£ |
|
|
Trade debtors |
18,940 |
|
19,120 |
|
Other debtors |
1,991 |
|
1,790 |
|
|
|
|
|
|
20,931 |
|
20,910 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
| £ |
£ |
|
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Other creditors |
379 |
|
379 |
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| 5 |
Other information |
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Baden Powell Court Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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1 Baden Powell Court |
|
Charterhouse Road |
|
Godalming |
|
Surrey |
|
GU7 2AW |
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The functional currency for these accounts is Sterling. |
