Witham Lodge Management Company Limited - Limited company accounts 16.3

REGISTERED NUMBER: 04423856 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

WITHAM LODGE MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

Dr S K Thomason

D P Vaughan

SECRETARY:

P W Bigge

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

04423856 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

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 December 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2016 to the date of this

report.

Dr S K Thomason

D P Vaughan

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:

Dr S K Thomason - Director

21st July 2017

INCOME

14,192

14,217

Service charge expenditure

13,946

13,689

OPERATING PROFIT

246

528

Interest receivable and similar income

9

7

PROFIT BEFORE TAXATION

255

535

Tax on profit

3

2

1

PROFIT FOR THE FINANCIAL YEAR

253

534

CURRENT ASSETS

Debtors

4

15,215

13,551

CREDITORS

Amounts falling due within one year

5

15,204

13,540

NET CURRENT ASSETS

11

TOTAL ASSETS LESS CURRENT
LIABILITIES

11

CAPITAL AND RESERVES

Called up share capital

6

11

SHAREHOLDERS' FUNDS

11

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

The financial statements were approved by the Board of Directors on 21st July 2017 and were signed on its behalf by:

Dr S K Thomason - Director

1.	STATUTORY INFORMATION

Witham Lodge Management Company Limited is a private company, limited by shares , 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.

Income

During the year the company received monies from lessees, as agents, in respect of service charges and

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

Presentation of the income statement

The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company

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

expenditure incurred in the management of the property.

3.

TAXATION

Analysis of the tax charge

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

31/12/16

31/12/15

£

Current tax:

UK corporation tax

2

1

Tax on profit

2

1

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

Trade debtors

438

577

Other debtors

14,777

12,974

15,215

13,551

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

Trade creditors

3,900

2,236

Other creditors

11,304

15,204

13,540

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

11

Ordinary

£1

11

7.

RESERVES

Retained

earnings

£

Profit for the year

253

Transfer to Service Charge Account

(253

)

At 31st December 2016

-

8.	CONTINGENT LIABILITIES

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

9.	CAPITAL COMMITMENTS

31/12/16

31/12/15

£

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 who are directors of the company. Service charges payable by the directors are on the same

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

required to be disclosed under the FRS 102.

11.	FIRST YEAR ADOPTION OF FRS 102

These financial statements are the first which the company has prepared in accordance with the provisions of

Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The

transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative

period at 1st January 2015, the income statement for the comparative period ended 31st December 2015 or the

closing balance sheet of the comparative period at 31st December 2015.