Orchardside Management Company Limited - Period Ending 2016-12-31

Registration number: 01228209

Orchardside Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

Orchardside Management Company Limited

Company Information

Directors

Mrs J Hellier Mrs M D R Price

Company secretary

Mr S I Jarrett

Registered office

Hillsdon House High Street Sidmouth Devon EX10 8LD

Accountants

Easterbrook Eaton Limited Chartered Accountants Cosmopolitan House Old Fore Street Sidmouth Devon EX10 8LS

Page 1

Orchardside Management Company Limited

Directors' Report for the Year Ended 31 December 2016

The directors present their report and the financial statements for the year ended 31 December 2016.

Directors of the company

The directors who held office during the year were as follows:

Mrs J Hellier

Mr K R Lawrence (resigned 25 May 2016)

Mr DF Price (Resigned 25 May 2016)

Mrs M D R Price (appointed 25 May 2016)

Principal activity

The principal activity of the company is the management of the flats situated at Orchardside, Sidford Road, Sidmouth, Devon

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 31 May 2017 and signed on its behalf by:

.........................................
Mr S I Jarrett
Company secretary

Page 2

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Orchardside Management Company Limited
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Orchardside Management Company Limited for the year ended 31 December 2016 as set out on pages 4 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 (ICAEW), 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 Orchardside Management Company 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 accounts of Orchardside Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Orchardside Management Company Limited, 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 Orchardside Management Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Orchardside Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Orchardside Management Company Limited. You consider that Orchardside Management Company 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 accounts of Orchardside Management Company 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 accounts.

......................................

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

1 June 2017

Page 3

Orchardside Management Company Limited

(Registration number: 01228209)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	3	1,100	1,100
Capital and reserves
Other reserves		1,100	1,100
Total equity		1,100	1,100

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 May 2017 and signed on its behalf by:
 

.........................................

Mrs M D R Price

Director

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 4

Orchardside Management Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
Hillsdon House
High Street
Sidmouth
Devon
EX10 8LD

These financial statements were authorised for issue by the Board on 31 May 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Bank, Cash and Other Assets

A statutory trust is placed over service charge monies received under section 42 of the Landlord and Tenant Act 1987 and the Residential Management Company acts as a trustee in this capacity.
The closing balance of cash and other assets held on trust by the Residential Management Company are £14,451.
 

Page 5

Orchardside Management Company Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

3	Tangible assets

	Freehold Land and buildings £	Total £
Cost or valuation
At 1 January 2016	1,100	1,100
At 31 December 2016	1,100	1,100
Depreciation
Carrying amount
At 31 December 2016	1,100	1,100
At 31 December 2015	1,100	1,100

Included within the net book value of land and buildings above is £1,100 (2015 - £1,100) in respect of freehold land and buildings.
 

4

Debtors

	2016 £	2015 £
Total current trade and other debtors	-	-

Page 6