30 Management Limited
30 Management Limited
Registered number: 04678572
Unaudited Financial Statements
For The Year Ended 31 August 2023
30 Management Limited
Contents
Contents
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| Balance Sheet | 1 |
| Notes to the Financial Statements | 2—3 |
30 Management Limited
Balance Sheet
As At
31 August 2023
Balance Sheet
Registered number:
04678572
For the year ending 31 August 2023 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
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| Creditors: Amounts Falling Due Within One Year | 5 |
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| NET ASSETS |
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On behalf of the board
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Director
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The notes on pages 2 to 3 form part of these financial statements.
30 Management Limited
Notes to the Financial Statements
For The Year Ended 31 August 2023
Notes to the Financial Statements
1.
General Information
30 Management Limited
is a private company, limited by guarantee, incorporated in England & Wales, registered number
04678572
. The registered office is C/O Fhp Accounting Services Limited, 10 Oxford Street, Nottingham, Nottinghamshire, NG1 5BG.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Turnover Cash Balances
Turnover
The Company is responsible for the management of the property at 30 The Ropewalk, Nottingham, Nottinghamshire NG1 5DW. The Company collects service charges from leaseholders in accordance with the terms of the lease agreement in order to fund expenditure incurred in the management of the property. These service charge funds are held in trust for the lessees which is imposed under Section 42 of the Landlord and Tenant Act 1987.
During the year the Company incurred expenditure in fulfilling its obligations under the terms of the lease for the property. The total costs incurred are recorded in the Company's income and expenditure account as funds collected from lessees to discharge obligations under the lease. To meet these obligations the Company draws from service charge funds held in trust on behalf of the lessees.
A detailed summary of expenditure incurred in the period is made available to the lessees of the property under the terms of the lease.
Cash balances
Cash at bank does not include unspent amounts of service charge funds held in the Company's bank account. Instead these unspent service charge funds are held in trust by the Company under Section 42 of the Landlord and Tenant Act 1987.
At the year end the amount of funds held in trust were £34,316 (2021: £6,720).
3.
Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
4.
Debtors
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| Prepayments and accrued income |
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| Other debtors |
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5.
Creditors: Amounts Falling Due Within One Year
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| Accruals and deferred income |
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30 Management Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 August 2023
6.
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.