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REPORT OF THE DIRECTOR AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED |
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REGISTERED NUMBER:
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REPORT OF THE DIRECTOR AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31ST MARCH 2019 |
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FOR |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED |
PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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Company Information | 1 |
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Report of the Director | 2 |
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Income Statement | 3 |
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Balance Sheet | 4 |
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Notes to the Financial Statements | 5 |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Sutherland House |
1759 London Road |
Leigh on Sea |
Essex |
SS9 2RZ |
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MANAGING AGENTS: |
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3 Reeves Way |
South Woodham Ferrers |
Essex |
CM3 5XF |
PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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The director presents his report with the financial statements of the company for the year ended 31st March 2019. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the administration of variable service charges |
as agents of the statutory trust for the residents of Priory Mews, 1-10 Priory Mews, Main Road, Hornchurch, Essex, |
RM11 1DF. |
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In accordance with guidance contained in ICAEW publication Tech 3/11 and FRC UITF publication 92 (Withdrawn) |
the company have recorded transactions where it may be deemed to have been acting as a principal or undisclosed agent |
to purchase goods and services on behalf of the service charge. |
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Balances in the financial statements relate solely to amounts due to or from the service charge. |
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Lessees can obtain the full set of information about service charges in separately prepared service charge accounts. |
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DIRECTOR |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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INCOME STATEMENT |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ |
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TURNOVER |
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Administrative expenses |
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(14,455 | ) | (21,566 | ) |
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Other operating income |
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OPERATING SURPLUS and |
SURPLUS BEFORE TAXATION |
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Tax on surplus |
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SURPLUS FOR THE FINANCIAL YEAR |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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BALANCE SHEET |
31ST MARCH 2019 |
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2019 | 2018 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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RESERVES | - | - |
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The director acknowledges his 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 |
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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. |
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The financial statements were approved by the director on
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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1. | STATUTORY INFORMATION |
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Priory Mews (Hornchurch) Management Company Limited is a
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registered in England and Wales. The company's registered number and registered office address can be found |
on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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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. |
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3. | SERVICE CHARGE BALANCES |
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Service Charge funds are held at NatWest bank. |
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At the balance sheet date balances reflecting in the service charge accounts were: |
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Balance on managing agent client account £4,693 (2018 £3,683) |
Balance on deposit account £2,598 (2018 £2,041) |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
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( |
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Other creditors |
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PRIORY MEWS (HORNCHURCH) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03307873) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2019 |
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6. | ULTIMATE CONTROLLING PARTY |
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There is no ultimate controlling party. All lessees are members and are entitled to vote. |