LEE_COURT_(BRISTOL)_LTD - Accounts
LEE_COURT_(BRISTOL)_LTD - Accounts
Company Registration No. 06326021 (England and Wales)
FOR THE YEAR ENDED 31 DECEMBER 2016
COMPANY INFORMATION
Directors
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 - 7
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 1 -
The directors present their report and financial statements for the year ended 31 December 2016.
Directors
The following directors have held office since 1 January 2016:
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 LEE COURT (BRISTOL) LTD FOR THE YEAR ENDED 31 DECEMBER 2016
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lee Court (Bristol) Ltd for the year ended 31 December 2016 set out on pages 3 to 7 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/.
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 Lee Court (Bristol) Ltd, as a body, in accordance with the terms of our engagement letter dated 10 April 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Lee Court (Bristol) Ltd and state those matters that we have agreed to state to the Board of Directors of Lee Court (Bristol) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lee Court (Bristol) Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Lee Court (Bristol) 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 Lee Court (Bristol) Ltd. You consider that Lee Court (Bristol) 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 Lee Court (Bristol) 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.
Prowting and Partners Ltd
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
2016
2015
Notes
£
£
Turnover
-
(Loss)/profit on ordinary activities before taxation
-
Tax on (loss)/profit on ordinary activities
-
-
(Loss)/profit for the year
3
-
BALANCE SHEET
AS AT
31 DECEMBER 2016
- 4 -
2016
2015
Notes
£
£
£
£
Current assets
Cash at bank and in hand
Creditors: amounts falling due within one year
2
(10,590 )
(11,302 )
Total assets less current liabilities
Capital and reserves
Profit and loss account
3
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 28 February 2017
Director
Director
Company Registration No. 06326021
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 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
Creditors: amounts falling due within one year
2016
2015
£
£
Other creditors
3
Statement of movements on profit and loss account
Profit
and loss
account
and loss
account
£
Balance at 1 January 2016
Balance at 31 December 2016
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
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4
Trust account
Recent guidance has been issued on the preparation of accounts of property management companies where the company owns the freehold of a block of flats and is the landlord for the purposes of the 1985 Landlord and Tenant Act.
The management company does not own the transactions relating to service charge expenditure and the collection of monies from the tenant leaseholders because under Section 42 of the Landlord and Tenant Act 1987 service charges are regarded as trust funds.
Accordingly a summary of transactions in respect of those trust funds is set out below:-
2016
2015
£
£
Service charges collected
3,600
3,600
Lighting
178
138
Insurance
647
609
Repairs and maintenance
2,567
1,561
Gardening
473
160
Accountancy charges
384
384
Sundry expenses
14
16
Bank charges
88
85
Legal
-
468
4,351
3,421
Deficit (Surplus) for the year
751
179
Surplus at 31 December 2015
10,886
10,707
10,135
10,886
Represented by:-
Cash held by the company
10,590
11,302
Sundry debtors - prepayments
549
592
Amounts owing
(1,004)
(1,008)
10,135
10,886
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
4
Trust account
(Continued)
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