EMERY_HOUSE_MANAGEMENT_CO - Accounts
EMERY_HOUSE_MANAGEMENT_CO - Accounts
Company Registration No. 07261433 (England and Wales)
FOR THE YEAR ENDED 31 MARCH 2015
COMPANY INFORMATION
Directors
(Appointed 1 July 2014)
(Appointed 1 July 2014)
(Appointed 1 July 2014)
Secretary
Company number
Registered office
Accountants
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The directors present their report and financial statements for the year ended 31 March 2015.
Principal activities
Directors
The following directors have held office since 1 April 2014:
(Resigned 30 June 2014)
(Resigned 30 June 2014)
(Resigned 30 June 2014)
(Resigned 30 June 2014)
(Appointed 1 July 2014)
(Appointed 1 July 2014)
(Appointed 1 July 2014)
(Appointed 1 July 2014 and resigned 28 May 2015)
Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report 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.
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 special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF EMERY HOUSE MANAGEMENT COMPANY LTD FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Emery House Management Company Ltd for the year ended 31 March 2015 set out on pages 3 to 6 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Emery House Management Company Ltd, as a body, in accordance with the terms of our engagement letter dated 9 November 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Emery House Management Company Ltd and state those matters that we have agreed to state to the Board of Directors of Emery House Management Company Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Emery House Management Company Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Emery House Management Company Ltd 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 loss of Emery House Management Company Ltd. You consider that Emery House Management Company Ltd 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 Emery House Management Company Ltd. 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.
Stephenson Smart & Co
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Turnover
Administrative expenses
(30,309 )
(23,047 )
Operating (loss)/profit
(679 )
Other interest receivable and similar income
2
(Loss)/profit on ordinary activities before taxation
(675 )
Tax on (loss)/profit on ordinary activities
3
-
-
(Loss)/profit for the year
7
(675 )
BALANCE SHEET
AS AT
31 MARCH 2015
- 4 -
2015
2014
as restated
Notes
£
£
£
£
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due within one year
5
(4,051 )
(2,845 )
Total assets less current liabilities
Capital and reserves
Profit and loss account
7
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 9 December 2015
Director
Director
Company Registration No. 07261433
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
2
Investment income
2015
2014
£
£
Bank interest
4
1
3
Taxation
The company is a mutually trading enterprise and any surplus or deficit arising as a result of the difference between service charges levied (based on budgeted costs) and actual costs incurred does not fall within the scope of Corporation Tax. Therefore no provision has been made for Corporation Tax.
4
Debtors
2015
2014
£
£
Service charges in arrears
Other debtors
-
5
Creditors: amounts falling due within one year
2015
2014
£
£
Bank loans and overdrafts
-
Payments received on account
-
Other creditors
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 6 -
6
Share capital
The company is Limited by Guarantee and does not have share capital.
7
Statement of movements on profit and loss account
Profit
and loss
account
and loss
account
£
Balance at 1 April 2014 as restated
Loss for the year
(675 )
Balance at 31 March 2015
In accordance with the leaseholders instructions surpluses or deficits for the year are accumulated to form part of the general reserve fund. The accumulated reserves brought forward have been restated to reflect this.
8
Control
There is no overall controlling party.