Company Registration No. 3702137 (England and Wales)
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
Richard Anthony
Chartered Accountants
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
COMPANY INFORMATION
Directors
A Mccann
G Dub
Mrs S Potschke
(Appointed 31 October 2018)
P G R Turner
(Appointed 31 October 2018)
Company number
3702137
Registered office
Edelman House
1238 High Road
Whetsone
London
N20 0LH
Accountants
Richard Anthony
2nd Floor, Gadd House
Arcadia Avenue
Finchley
London
N3 2JU
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3
Notes to the financial statements
4
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2018
- 1 -
The directors present their annual report and financial statements for the year ended 31 December 2018.
Principal activities
The company acts as Trustee for the tenants of a block of flats known as Westfield, Kidderpore Avenue, London NW3 7SF. The company manages the block through an agency, Faraday Property Management Ltd. It collects Service Charges from the tenants of the block, and makes payments on their behalf, acting at all times as Trustee. Because of this Trust relationship, the accounts recognise that the company does not beneficially hold title to any assets or liabilities. A separate set of Service Charge accounts have been prepared that incorporate all Service Charge income and expenditure, debtors and creditors. Accordingly, this company's accounts do not reflect such transactions or balances. Both the current and the previous year have been presented on the basis that the company does not have a beneficial interest in the assets, liabilities, income or expenditure.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
M Barnett
(Resigned 1 June 2018)
P Tobias
(Resigned 26 October 2018)
A Sanders
(Resigned 20 April 2018)
A Mccann
G Dub
Mrs S Potschke
(Appointed 31 October 2018)
P G R Turner
(Appointed 31 October 2018)
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
G Dub
Director
15 October 2019
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WESTFIELD MANAGEMENT COMPANY (UK) LIMITED FOR THE YEAR ENDED 31 DECEMBER 2018
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westfield Management Company (UK) Limited for the year ended 31 December 2018 set out on pages 3 to 4 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 at http://www.icaew.com/en/members/regulations-standards-and-guidance
.
This report is made solely to the Board of Directors of Westfield Management Company (UK) Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Westfield Management Company (UK) Limited
and state those matters that we have agreed to state to the Board of Directors of Westfield Management Company (UK) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westfield Management Company (UK) Limited and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Westfield Management Company (UK) 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 result
of Westfield Management Company (UK) Limited. You consider that Westfield Management Company (UK) 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 Westfield Management Company (UK) 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.
Richard Anthony
15 October 2019
Chartered Accountants
2nd Floor, Gadd House
Arcadia Avenue
Finchley
London
N3 2JU
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2018
31 December 2018
- 3 -
2018
2017
Notes
£
£
£
£
Reserves
For the financial year ended 31 December 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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.
T
he 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 provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 October 2019 and are signed on its behalf by:
G Dub
Director
Company Registration No. 3702137
WESTFIELD MANAGEMENT COMPANY (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018
- 4 -
1
Accounting policies
Company information
Westfield Management Company (UK) Limited is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
Edelman House, 1238 High Road, Whetsone, London, N20 0LH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial
period
. During
this time
the company received no income and incurred no expenditure and therefore no Profit and loss account is presented
in these financial statements.
2
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.