MAYFORD_CLOSE_RESIDENTS_M - Accounts
MAYFORD_CLOSE_RESIDENTS_M - Accounts
Company Registration No. 04219130 (England and Wales)
FOR THE YEAR ENDED 31 MAY 2016
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 MAY 2016
- 1 -
The directors present their report and financial statements for the year ended 31 May 2016.
Directors
The following directors have held office since 1 June 2015:
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 MAYFORD CLOSE RESIDENTS MANAGEMENT LIMITED FOR THE YEAR ENDED 31 MAY 2016
- 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 Mayford Close Residents Management Limited for the year ended 31 May 2016 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Mayford Close Residents Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Mayford Close Residents Management Limited and state those matters that we have agreed to state to the Board of Directors of Mayford Close Residents Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mayford Close Residents Management Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Mayford Close Residents Management Limited 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 Mayford Close Residents Management Limited. You consider that Mayford Close Residents Management Limited 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 Mayford Close Residents Management Limited. 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.
David Howard
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
2016
2015
Notes
£
£
Turnover
Administrative expenses
(6,283 )
(5,046 )
(Loss)/profit on ordinary activities before taxation
(2,770 )
Tax on (loss)/profit on ordinary activities
-
-
(Loss)/profit for the year
6
(2,770 )
BALANCE SHEET
AS AT
31 MAY 2016
- 4 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
Current assets
Debtors
3
Cash at bank and in hand
Creditors: amounts falling due within one year
4
(7,955 )
(8,223 )
Net current liabilities
(4,202 )
(1,432 )
Total assets less current liabilities
Capital and reserves
Called up share capital
5
Profit and loss account
6
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 29 July 2016
Director
Company Registration No. 04219130
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Turnover
1.3
Tangible fixed assets and depreciation
Land and buildings Leasehold
1.4
Fixed assets
The amount of £6780 is the cost of premises.
1.5
Share capital
The lessee of each property becomes a member of the company upon purchasing the leasehold of their property.
2
Tangible fixed assets
Land and buildings Leasehold
£
Cost
At 1 June 2015 & at 31 May 2016
Depreciation
At 1 June 2015 & at 31 May 2016
-
Net book value
At 31 May 2016
At 31 May 2015
3
Debtors
2016
2015
£
£
Other debtors
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 6 -
4
Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
6
Statement of movements on profit and loss account
Profit and loss
account
account
£
Balance at 1 June 2015
Loss for the year
(2,770 )
Balance at 31 May 2016
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 31 MAY 2016
2016
2015
£
£
Administrative expenses
Insurance
854
906
Light and heat
190
467
Cleaning
360
360
Repairs and maintenance
3,270
2,096
Printing, postage and stationery
11
15
Gardener
1,205
839
Legal and prof fees
26
13
Accountancy
352
340
Bank charges
15
10