SUTTON_COURT_MANAGEMENT_L - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Sutton Court Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 101A Sutton Court, London, W4 3EE.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The company pays corporation tax on its interest received.

The costs of short-term employee benefits are recognised as a liability and an expense in the Sutton Court Service Charge accounts.

Termination benefits are recognised immediately as an expense in the Sutton Court Service Charge accounts when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Service Charge Account

During the year ended 31 December 2023 Sutton Court Management Limited was acting as agent for the Sutton Court Service Charge. All Sutton Court Service Charge transactions are recorded and presented separately in the Service Charge accounts, which includes a balance sheet, income and expenditure account and explanatory notes.

Sutton Court Management Limited held £118,451 (2022: £90,652) in a separate client bank current account as at 31 December 2023 in respect of the Sutton Court Service Charge. This bank balance is held by the company on behalf of contributors to the service charge and is excluded from the company's balance sheet as at 31 December 2023.

During the year ended 31 December 2023 the company was acting as an agent for the Sutton Court Service Charge. The salaries and wages have been included in the Service Charge Accounts.

The average monthly number of persons employed by the company to act for the Service Charge during the year was 4 (2022 - 4).

The parent company of Sutton Court Management Limited is Sutton Court Limited.