29_BROADWATER_ROAD_MANAGE - Accounts
29_BROADWATER_ROAD_MANAGE - Accounts
Company Registration No. 08303654 (England and Wales)
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
Business address
189-193 Earls Court Road
London
SW5 9AN
Bankers
Barclays Bank Plc
75 King Street
London
W6 9HY
Solicitors
Cornerstone Law
Building 7
Queens Park
Queensway
Team Valley
Gateshead
NE11 0QD
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2016
- 1 -
The directors present their report and financial statements for the year ended 30 June 2016.
Principal activities
The purpose of the company is to operate a service charge on behalf of the landlord. The company never expects to make a profit as all surplus or deficit will be requested from or returned to the tenants or leaseholders.
Directors
The following directors have held office since 1 July 2015:
Statement of directors' responsibilities
The directors are responsible for preparing 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). The financial statements are required by law to 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 those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and 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 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). The financial statements are required by law to 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 those financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and 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 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
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
2016
2015
Notes
£
£
Turnover
2
Service charge costs
(284,624 )
(293,021 )
Loss on ordinary activities before taxation
-
-
Tax on loss on ordinary activities
3
-
-
Loss for the year
-
-
BALANCE SHEET
AS AT
30 JUNE 2016
- 3 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
4
Cash at bank and in hand
Creditors: amounts falling due within one year
5
(67,626 )
(98,551 )
Total assets less current liabilities
Capital and reserves
Called up share capital
6
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 17 March 2017
Director
Company Registration No. 08303654
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
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
Turnover
An analysis of the turnover reported is shown below: -
2016
2015
£
£
Service charge receivable
193,520
206,541
Electricity recovered
91,104
86,480
3
Taxation
On the basis of these financial statements no provision has been made for corporation tax.
4
Debtors
2016
2015
£
£
Trade debtors
Other debtors
5
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
Taxation and social security
Other creditors
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 5 -
6
Share capital
2016
2015
£
£
Allotted, called up and fully paid
7
Transactions with directors
During the year, Terry Prosser Accounting Solutions Limited charged the company £4,500 (2015: £4,500) in respect of book keeping and accounting services provided. Terry Prosser is the sole director and controlling party of Terry Prosser Accounting Solutions Limited and also a director of 29 Broadwater Road Management Limited.
During the year, Mitro Management Limited charged the company £13,000 (2015: £12,500) in respect of management services provided. Gary Lever is the sole director and minority shareholder of Mitro Management Limited and also a director of 29 Broadwater Road Management Limited.
During the year, Mitro Management Limited charged the company £13,000 (2015: £12,500) in respect of management services provided. Gary Lever is the sole director and minority shareholder of Mitro Management Limited and also a director of 29 Broadwater Road Management Limited.
8
Control
The immediate parent company and controlling party is Mitro Holdings Limited, a company registered in England & Wales.