Crown Apartments Management Co. Ltd - Accounts to registrar - small 17.1

REGISTERED NUMBER: 05165614 (England and Wales)

CROWN APARTMENTS MANAGEMENT

COMPANY LIMITED

Unaudited Financial Statements

for the Year Ended 31 December 2016

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

Director:

Mr J Socha

Secretary:

Orchard Block Management Services Ltd

Registered office:

Artisans House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

Registered number:

05165614 (England and Wales)

Accountants:

Cobley Desborough

Chartered Certified Accountants

Chartered Tax Advisers

Artisans' House

7 Queensbridge

Northampton

Northamptonshire

NN4 7BF

CURRENT ASSETS

Debtors

3

83,171

32,633

CREDITORS

Amounts falling due within one year

4

68,417

2,579

NET CURRENT ASSETS

14,754

30,054

TOTAL ASSETS LESS CURRENT LIABILITIES

14,754

30,054

RESERVES

General contingency fund

5

7,441

16,000

Fire Insurance Claim

Contingency

5

(10,588

)

-

Income and expenditure account

5

17,901

14,054

14,754

30,054

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 surplus or deficit 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 16 March 2017 and were signed by:

Mr J Socha - Director

1.	STATUTORY INFORMATION

Crown Apartments Management Company Limited is a private company, limited by guarantee ,

registered in England and Wales. The company's registered number and registered office address

can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is measured

using tax rates and laws that have been enacted or substantively enacted by the year end and that

are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Service charges receivable

18,863

15,269

Owed to freeholder

(1,741

)

(825

)

Balances held at managing agents designated account

66,049

15,278

Prepayments & accrued income

-

2,911

83,171

32,633

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

67,907

2,069

Accrued expenses

510

510

68,417

2,579

5.

RESERVES

Income

Fire

and

General

Insurance

expenditure

contingency

Claim

account

fund

Contingency

Totals

£

£

£

£

At 1 January 2016

14,054

16,000

-

30,054

Surplus for the year

3,847

3,847

Transfer to fund in year

-

1,000

365,939

366,939

Expenses in year

-

(9,559

)

(376,527

)

(386,086

)

At 31 December 2016

17,901

7,441

(10,588

)

14,754