Mutualphase Property Management Limited - Limited company - abbreviated - 11.9

Mutualphase Property Management Limited - Limited company - abbreviated - 11.9


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REGISTERED NUMBER: 02816029 (England and Wales)












MUTUALPHASE PROPERTY MANAGEMENT LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2015






MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029)






CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 31 May 2015




Page

Company information 1

Abbreviated balance sheet 2

Notes to the abbreviated accounts 3

Report of the accountants 4

MUTUALPHASE PROPERTY MANAGEMENT LIMITED

COMPANY INFORMATION
for the year ended 31 May 2015







DIRECTORS: Mr J M Needham
Mr F B McPeake





SECRETARY: Mr J M Needham





REGISTERED OFFICE: Lygon House
50 London Road
Bromley
Kent
BR1 3RA





REGISTERED NUMBER: 02816029 (England and Wales)





ACCOUNTANTS: F W Berringer & Co
Chartered Accountants
Lygon House
50 London Road
Bromley
Kent
BR1 3RA

MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029)

ABBREVIATED BALANCE SHEET
31 May 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 17,623 17,452

CURRENT ASSETS
Debtors 6,084 5,908
Cash at bank and in hand 27,778 30,381
33,862 36,289
CREDITORS
Amounts falling due within one year 1,597 1,597
NET CURRENT ASSETS 32,265 34,692
TOTAL ASSETS LESS CURRENT
LIABILITIES

49,888

52,144

CAPITAL AND RESERVES
Called up share capital 3 56 56
Share premium 9,464 9,464
Profit and loss account 40,368 42,624
SHAREHOLDERS' FUNDS 49,888 52,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 12 November 2015 and were signed on its behalf
by:





Mr J M Needham - Director


MUTUALPHASE PROPERTY MANAGEMENT LIMITED (REGISTERED NUMBER: 02816029)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 31 May 2015

1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents maintenance contributions received from shareholders.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 10% on reducing balance

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2014 55,250
Additions 1,212
At 31 May 2015 56,462
DEPRECIATION
At 1 June 2014 37,798
Charge for year 1,041
At 31 May 2015 38,839
NET BOOK VALUE
At 31 May 2015 17,623
At 31 May 2014 17,452

3. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2015 2014
value: £    £   
56 Ordinary £1 56 56

4. CASH AT BANK

The bank balance, representing service charge monies received by a residential management company in
accordance with the terms of the lease agreement, is held in a statutory trust under Section 42 of the Landlord
and Tenant Act 1987. It is not an asset of the company, however, until the overall correct accounting treatment
of residential management companies has been finalised under Financial Reporting Exposure Draft 50
(Residential Management Companies' Financial Statements), draft Financial Reporting Council Abstract 1, the
directors have decided that it should remain in the balance sheet.

MUTUALPHASE PROPERTY MANAGEMENT LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
MUTUALPHASE PROPERTY MANAGEMENT LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)
have been prepared.

As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2015 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






F W Berringer & Co
Chartered Accountants
Lygon House
50 London Road
Bromley
Kent
BR1 3RA


12 November 2015