REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2023 |
for |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Report of the Accountants | 7 |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
Company Information |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Fairway House |
Links Business Park |
St Mellons, Cardiff |
CF3 0LT |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Balance Sheet |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Balance Sheet - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
HAZELHURST COURT (LLANDAFF NORTH) MANAGEMENT COMPANY LIMITED is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) as amended by the recommendations of Financial Reporting Exposure Draft 50, however it has been decided to continue to recognise cash held at bank as an asset of the company in order to be consistent with the treatment in previous years. |
Turnover |
Turnover represents contributions from tenants excluding value added tax. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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. |
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. |
Cash at bank |
A statutory trust is imposed over the service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and that the residential management company acts as a trustee in this capacity. |
The closing balance of cash held in trust as at 31 March 2023 was £17,654 (2022 £17,327) |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Accrued expenses |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the directors of the company each contributed £870 to the company, this is in line with contributions of the remaining tenants for the maintenance and upkeep of the property. |
8. | ULTIMATE CONTROLLING PARTY |
The is no ultimate controlling party, the company is controlled equally by the members who all have equal shareholdings. |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
Report of the Accountants to the Directors of |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
You have stated that an audit of the service charge accounts in accordance with International Standards on Auditing is not required under the terms of the lease for Hazelhurst Court (Llandaff North) Management Company Limited . In accordance with our engagement letter dated 7th November 2022. We have performed the procedures agreed with you and enumerated below with respect to the service charge accounts set out on pages three to eight in respect of Hazelhurst Court (Llandaff North) Management Company Limited for the year ended 31 March 2023 in order to provide a report of factual findings about the service charge accounts that you have issued. |
This report is made to the landlord for issue with the service charge accounts in accordance with the terms of our engagement. Our work has been undertaken to enable us to make this report to the Landlord and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Landlord for our work or for this report. |
Basis of report |
Our work was carried out having regard to Residential Service Charge Accounts published jointly by the professional accountancy bodies with AMRA and RICS. In summary, the procedures we carried out with respect to the service charge accounts were; |
1. We obtained the service charge accounts and checked whether the figures in the accounts were extracted |
correctly from the accounting records maintained by or on behalf of the landlord; |
2. We checked, based on a sample, whether entries in the accounting records were supported by receipts, other |
documentation or evidence that we inspected; and |
3. We checked whether the balance of service charge monies for html property shown on page 3 of the service |
charge accounts agreed or reconciled to the bank statements for the accounts in which the funds are held. |
Because the above procedures do not constitute either an audit or a review made in accordance with International Standards on Auditing (UK and Ireland) or International Standards on Review Engagements, we do not express any assurance on the service charge accounts other than in making the factual statements set out below. |
Had we performed additional procedures or we performed an audit or review of the financial statements in accordance with International standards on Auditing (UK and Ireland) or International Standards on Review Engagements, other matters might have come to our attention that would have been reported to you. |
Report of factual findings; |
(a) With respect to item 1 we found the figures in the statement of account to have been extracted correctly from the accounting records. |
(b) With respect to item 2 we found that those entries in the accounting records that we checked were supported by receipts, other documentation or evidence that we inspected. |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04091680) |
Report of the Accountants to the Directors of |
HAZELHURST COURT (LLANDAFF NORTH) |
MANAGEMENT COMPANY LIMITED |
(c) With respect to item 3 we found th at the balance of service charge monies shown on page 3 of the service |
charge accounts agrees or reconciles to the bank statement for the account in which the funds are held. |
Chartered Accountants |
Fairway House |
Links Business Park |
St Mellons, Cardiff |
CF3 0LT |