Waterloo Lane Management Company Limited - Limited company accounts 16.3

Waterloo Lane Management Company Limited - Limited company accounts 16.3

WATERLOO LANE MANAGEMENT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 05971222 (England and Wales)










REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

FOR

WATERLOO LANE MANAGEMENT COMPANY LIMITED

WATERLOO LANE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 05971222)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016




Page

Company Information 1

Report of the Directors 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


WATERLOO LANE MANAGEMENT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2016







DIRECTORS: L Doonan
Blenheim Consultancy Services Limited
Aquila Estates Limited





SECRETARY: Blenheim Consultancy Services Limited





REGISTERED OFFICE: 22 Barn Rise
Wembley
Middlesex
HA9 9NQ





REGISTERED NUMBER: 05971222 (England and Wales)





ACCOUNTANTS: Websters
12 Melcombe Place
London
NW1 6JJ
Page 1
WATERLOO LANE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 05971222)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 DECEMBER 2016

The directors present their report with the financial statements of the company for the year ended 31 December 2016.

PRINCIPAL ACTIVITY
The company's activities comprise the control, supervision and management, on behalf of the lessees, of the site known
as Bond Street, Chelmsford, Essex. Aquila EHS Limited owns the reversionary freehold interest.

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

L Doonan
Blenheim Consultancy Services Limited

Other changes in directors holding office are as follows:

Aquila Estates Limited - appointed 1 April 2016

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and 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). Under company law the directors must not
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the
company and of the surplus or deficit of the company for that period. In preparing these financial statements, the
directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting 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 are sufficient to show and explain the
company's transactions and 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 provisions of Part 15 of the Companies Act 2006 relating to small
companies.

ON BEHALF OF THE BOARD:





Blenheim Consultancy Services Limited - Director


14 November 2017

Page 2
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WATERLOO LANE MANAGEMENT COMPANY LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the
financial statements of Waterloo Lane Management Company Limited for the year ended 31 December 2016 which
comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Waterloo Lane Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Waterloo Lane Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Waterloo Lane Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Waterloo Lane Management Company Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Waterloo Lane Management Company Limited 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 profit of Waterloo Lane Management Company Limited. You consider that Waterloo Lane 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 financial statements of Waterloo Lane 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 financial statements.






Websters
12 Melcombe Place
London
NW1 6JJ


14 November 2017

This page does not form part of the statutory financial statements

Page 3
WATERLOO LANE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 05971222)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2016

31.12.16 31.12.15
Notes £    £   

SERVICE CHARGES RECEIVABLE 128,753 116,988

Service charge expenditure (128,753 ) (116,988 )
GROSS SURPLUS - -

OPERATING SURPLUS and
SURPLUS BEFORE TAXATION 4 - -

Tax on surplus - -
SURPLUS FOR THE FINANCIAL YEAR - -

The notes form part of these financial statements

Page 4
WATERLOO LANE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 05971222)

BALANCE SHEET
31 DECEMBER 2016

31.12.16 31.12.15
Notes £    £   
CURRENT ASSETS
Debtors 5 75,764 59,610
Cash at bank 11,705 10,210
87,469 69,820
CREDITORS
Amounts falling due within one year 6 (67,707 ) (52,413 )
NET CURRENT ASSETS 19,762 17,407
TOTAL ASSETS LESS CURRENT
LIABILITIES
19,762
17,407

PROVISIONS FOR LIABILITIES (19,762 ) (17,407 )
NET LIABILITIES - -


RESERVES - -

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 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 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 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 14 November 2017 and were signed on its behalf
by:





Blenheim Consultancy Services Limited - Director


The notes form part of these financial statements

Page 5
WATERLOO LANE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 05971222)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1. STATUTORY INFORMATION

Waterloo Lane 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
bIreland" and the Companies Act 2006.

The financial statements are also prepared in accordance with the Institute of Chartered Accountants in England
and Wales ("ICAEW") Technical Release "Tech 03/11" and taking account of subsequent legal counsel's opinion
obtained separately by both ICAEW and the Financial Reporting Council in determining whether a management
company acts as principal when contracting with third party suppliers to the property's service charge.

Turnover
Turnover comprises service charges receivable from the tenants of Bond Street, Chelmsford, Essex.

Service charges receivable are recognised as income in the financial statements concurrently with the
recognition of the service charge expenditure that is being funded.

3. EMPLOYEES AND DIRECTORS

There were no employees during the year.

4. OPERATING SURPLUS

The directors received no remuneration in respect of their services to the company for the year.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade debtors 15,334 16,835
Other debtors and prepayments 60,430 42,775
75,764 59,610

Included within other debtors is a balance of £51,782 (2015: £40,341) due from the service charge fund which is
held in trust by the company for the benefit of the residential lessees of Bond Street, Chelmsford, Essex.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.16 31.12.15
£    £   
Trade creditors 44,864 6,195
Taxation and social security 2,579 2,367
Other creditors and accruals 20,264 43,851
67,707 52,413

7. LIMITED BY GUARANTEE

The company is limited by guarantee and hence does not have a share capital.

Under the company's Memorandum of Association, each member of the company undertakes to contribute such
amount as may be required (not exceeding £1) to the company's assets if it should be wound up.

8. ULTIMATE CONTROLLING PARTY

The company is controlled by a voting majority of its members and accordingly there is no controlling party.

Page 6