The Cedars (Nottingham) Management Co Lt - Limited company accounts 17.3

REGISTERED NUMBER: 01823088 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017

FOR

THE CEDARS (NOTTINGHAM) 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:

Mrs P R Belfield

Miss F Digby-Ovens

SECRETARY:

Mrs P R Belfield

REGISTERED OFFICE:

Ossington Chambers

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

01823088 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

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 March 2017.

DIRECTORS

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

Mrs P R Belfield

Miss F Digby-Ovens

Other changes in directors holding office are as follows:

Mrs B P J Shirley - resigned 28th March 2017

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:

Mrs P R Belfield - Director

19th December 2017

INCOME

14,520

15,915

Service charge expenditure

19,361

15,580

OPERATING (LOSS)/PROFIT

(4,841

)

335

Interest receivable and similar income

4

5

(LOSS)/PROFIT BEFORE TAXATION

(4,837

)

340

Tax on (loss)/profit

1

(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(4,838

)

339

CURRENT ASSETS

Debtors

3

12,915

10,587

CREDITORS

Amounts falling due within one year

4

12,908

10,580

NET CURRENT ASSETS

7

TOTAL ASSETS LESS CURRENT
LIABILITIES

7

CAPITAL AND RESERVES

Called up share capital

5

7

SHAREHOLDERS' FUNDS

7

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 19th December 2017 and were signed on its behalf
by:

Mrs P R Belfield - Director

1.	STATUTORY INFORMATION

The Cedars (Nottingham) 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 from lessees, as principal, monies relating to 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 the lessees and other parties who may be interested in the

expenditure incurred in the management of the property.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

Service charges due

84

1,000

Other debtors

2,753

459

Bank balances held by managing agent

6,587

8,287

Service Charge Account (Note 12)

3,480

-

Prepayments

11

841

12,915

10,587

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/17

31/3/16

£

Trade creditors

5,850

3,365

Reserve Fund

6,074

6,432

Accrued expenses

984

783

12,908

10,580

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/17

31/3/16

value:

£

7

Ordinary

£1

7

Each leaseholder is entitled to hold one share.

6.

RESERVES

Retained

earnings

£

Deficit for the year

(4,838

)

Transfer to Service Charge Account

4,838

At 31st March 2017

-

7.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st March 2017 (2016 - none).

8.	CAPITAL COMMITMENTS

31/3/17

31/3/16

£

Contracted but not provided for in the

financial statements

-

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

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

to be disclosed under FRS 102.

10.	FIRST YEAR ADOPTION

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 April 2015, the income statement for the comparative period ended 31st March 2016 or the closing

balance sheet of the comparative period at 31st March 2016.