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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2018 |
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FOR |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED |
HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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BALANCE SHEET |
31 DECEMBER 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks | 3 |
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Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Other reserves | 6 |
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Retained earnings | 6 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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BALANCE SHEET - continued |
31 DECEMBER 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
behalf by: |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents (i) service charges receivable from the lessees of the 9 residential units at |
Holwell Court Mansion in respect of the cost of maintenance and other operating expenses of the |
premises used by the lessees, and (ii) charges in respect of LPG supplied to those lessees and the |
lessees of 4 adjoining residential units. |
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Tangible fixed assets |
The Directors do not consider that depreciation is required in respect of the freehold property. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
profits. |
HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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2. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 January 2018 |
and 31 December 2018 |
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NET BOOK VALUE |
At 31 December 2018 |
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At 31 December 2017 |
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3. | STOCKS |
2018 | 2017 |
£ | £ |
Gas stock |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
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Service charge debtors | 267 | 3,387 |
Gas account debtors | 1,212 | 1,212 |
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Other debtors represents an amount paid as a deposit in relation to the roof repair work. |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Gas deposits | 3,600 | 3,550 |
Gas creditor account | 929 | 1,187 |
Accrued expenses |
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HOLWELL COURT MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 016365 |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2018 |
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6. | RESERVES |
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This is created from surplus on the income and expenditure account and has been allocated to the |
following reserves: |
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31.12.2018 | 31.12.2017 |
£ | £ |
Contingency reserve (formerly freehold ownership) | 4,095 | 4,088 |
Building sinking fund | 68,054 | 58,167 |
Redecoration reserve | 8,763 | 5,752 |
80,912 | 68,007 |
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7. | CONTINGENT LIABILITIES |
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The Directors have been advised that major roof repairs may be required within the foreseeable |
future. It is therefore the policy of the Company to accumulate reserves in order to meet the cost of |
major repairs if they become necessary. |