Holmhurst Mews Residential Man Co Ltd - Limited company accounts 18.1.1
Holmhurst Mews Residential Man Co Ltd - Limited company accounts 18.1.1
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
FOR |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
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 |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Melcombe Place |
London |
NW1 6JJ |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
The directors present their report with the financial statements of the company for the year ended 31 December 2017. |
PRINCIPAL ACTIVITY |
The company's principal activities comprise the control, supervision and management, on behalf of the lessees, of the |
site known as Holmhurst Mews, Wimbledon, London SW20 0DF with no interest in the reversionary freehold. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 2017 to the date of this report. |
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 profit or loss 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: |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
HOLMHURST MEWS RESIDENTIAL 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 Holmhurst Mews Residential Management Company Limited for the year ended |
31 December 2017 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 Holmhurst Mews Residential 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 Holmhurst Mews Residential Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Holmhurst Mews Residential 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 Holmhurst Mews Residential 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 Holmhurst Mews Residential 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 Holmhurst Mews Residential Management Company Limited. You consider that Holmhurst Mews Residential 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 Holmhurst Mews Residential 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. |
12 Melcombe Place |
London |
NW1 6JJ |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
Period |
1.7.15 |
Year ended | to |
31.12.17 | 31.12.16 |
as restated |
Notes | £ | £ |
SERVICE CHARGES RECEIVABLE |
Service charge expenditure | ( |
) | ( |
) |
GROSS PROFIT |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit | 5 |
PROFIT FOR THE FINANCIAL YEAR |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
BALANCE SHEET |
31 DECEMBER 2017 |
31.12.17 | 31.12.16 |
as restated |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 7 |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES | - | - |
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 were approved by the Board of Directors on by: |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
1. | STATUTORY INFORMATION |
Holmhurst Mews Residential Management Company Limited is a |
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 |
Ireland" 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. |
Service charges receivable |
Service charges receivable comprises the reimbursement of service charge expenditure deployed by the |
management company on behalf of the service charge fund for Holmhurst Mews. |
Recognition of income |
Service charges receivable is recognised in the financial statements concurrently with the recognition of the |
service charge expenditure that is being funded. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL. |
4. | OPERATING PROFIT |
The directors received no remuneration in respect of their services to the company for the year. |
5. | TAXATION |
Service charge funds are held by the company in trust for the tenants and hence any income tax chargeable at |
the rate applicable to such trusts is not reflected in these accounts. |
6. | PRIOR YEAR ADJUSTMENT |
Accounting Convention: |
The financial statements for year ended 31 December 2016 were prepared on the basis that the company held |
the property's service charge funds in trust as set out in Section 42 of The Landlord & Tenant Act 1987. |
Furthermore, the accounts were prepared on the basis that the company was not acting as principal when |
undertaking service charge transactions with third party suppliers. |
In these financial statements the accounting convention set out above in Note 2 has been adopted and the |
accounting policies have been amended to include service charges receivable as turnover, with the |
corresponding outgoings reflected in cost of sales. The balance sheet includes all of the company's own assets |
and liabilities. |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
as restated |
£ | £ |
Other debtors |
Included within other debtors is a balance of £2,189 (2016: £2,722) due from the service charge fund which is |
held in trust by the company for the benefit of the lessees of Holmhurst Mews, Wimbledon, London SW20 0DF. |
HOLMHURST MEWS RESIDENTIAL MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 08576398) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2017 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.17 | 31.12.16 |
as restated |
£ | £ |
Trade creditors |
Other creditors |
9. | 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 |
amounts as may be required (not exceeding £1) to the company's assets if it should be wound up. |
10. | ULTIMATE CONTROLLING PARTY |
The company is controlled by a voting majority of its members and accordingly there is no controlling related |
party. |