The Cedars (Nottingham) Management Co Lt - Limited company accounts 16.3

REGISTERED NUMBER: 01823088 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2016

FOR

THE CEDARS (NOTTINGHAM) MANAGEMENT

COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Mrs B P J Shirley

Mrs P R Belfield

Miss F Digby-Ovens

SECRETARY:

Mrs P R Belfield

REGISTERED OFFICE:

Ossington Chambers

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

01823088 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st March 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st April 2015 to the date of this report.

Mrs B P J Shirley

Mrs P R Belfield

Miss F Digby-Ovens

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

Mrs P R Belfield

Mrs P R Belfield - Secretary

9th December 2016

INCOME

15,915

21,520

Service charge expenditure

15,580

16,740

OPERATING PROFIT

2

335

4,780

Interest receivable and similar income

5

-

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

340

4,780

Tax on profit on ordinary activities

3

1

-

PROFIT FOR THE FINANCIAL YEAR

339

4,780

CURRENT ASSETS

Debtors

4

10,587

7,951

CREDITORS

Amounts falling due within one year

5

10,580

7,944

NET CURRENT ASSETS

7

TOTAL ASSETS LESS CURRENT
LIABILITIES

7

CAPITAL AND RESERVES

Called up share capital

6

7

SHAREHOLDERS' FUNDS

7

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 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 financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 9th December 2016 and were signed on its behalf
by:

Mrs P R Belfield - Director

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 January 2015).

Income

During the year the company received from lessees, as principal, monies relating to service charges and

associated income, which are held on trust and do not constitute turnover.

Presentation of the profit and loss account

The presentation of the Profit and Loss Account on page 3 has been modified from the prescribed format for

Company accounts in order to provide more information to the lessees and other parties who may be interested in

the expenditure incurred in the management of the property.

2.	OPERATING PROFIT

The operating profit is stated after charging:

31/3/16

31/3/15

£

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31/3/16

31/3/15

£

Current tax:

UK corporation tax

1

-

Tax on profit on ordinary activities

1

-

The company's activities are classed by the Inland Revenue as mutual trading and consequently provision for

corporation tax in this accounting period has been made only in respect of bank interest received.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/16

31/3/15

£

Trade debtors

1,000

-

Other debtors

9,587

7,951

10,587

7,951

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/16

31/3/15

£

Trade creditors

3,365

3,711

Other creditors

7,215

4,233

10,580

7,944

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

7

Ordinary

£1

7

Each leaseholder is entitled to hold one share.

7.

RESERVES

Profit

and loss

account

£

Profit for the year

339

Cash share issue

(339

)

At 31st March 2016

-

8.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st March 2016 (2015 - none).

9.	CAPITAL COMMITMENTS

31/3/16

31/3/15

£

Contracted but not provided for in the

financial statements

-

10.	RELATED PARTY DISCLOSURES

The company is a mutual trading company and as such received income in the form of service charge from

residents, some of whom are directors of the company. Service charges payable by the directors are on the same

basis as for all of the other residents. No other transactions with related parties were undertaken such as required

to be disclosed under the Financial Reporting Standard for Smaller Entities.