THREE_KINGS_YARD_RESIDENT - Accounts

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of Section 42 of the Landlord and Tenant Act 1987 and the company acts as a trustee in this capacity. Information relating to service charges is dealt with as a separate statement of account.

The trust bank balance is not included in these accounts. The trust bank balance at 31 December 2017 was £1,639 (2016 - £605).

The company acts as principal when transacting with third party suppliers in the management and arrangement of maintenance of the property.

The company recognises the service charges expense arising from the maintenance of the property in its profit and loss account.

Turnover represents the amount the company is entitled to draw from service charge monies to meet the service charge expenses arising from its management and arrangement of maintenance of the property.

The statutory accounts and service charge statement complies with changes in past years as required by Accounting for Service Charges Technical Release 03/11 issued by the Institute of Chartered Accountants in England & Wales in October 2011 and FRED 50 Residential Management Companies' Financial Statements issued by the Financial Reporting Council in August 2013.

Three Kings Yard Residents Limited is a private company limited by shares incorporated in England and Wales. The registered office is Burwood House, 14-16 Caxton Street, London, SW1H 0QY.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

For the year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the micro-entity provisions and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime' and delivered in accordance with the provisions applicable to companies subject to the small companies regime.