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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD |
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REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018 |
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FOR |
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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD |
THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2018 |
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Company Information | 1 |
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Report of the Directors | 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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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD |
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COMPANY INFORMATION |
for the Year Ended 31st 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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ACCOUNTANTS: |
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Chartered Accountants |
6/8 Castle Gate |
Newark |
Nottinghamshire |
NG24 1AX |
THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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REPORT OF THE DIRECTORS |
for the Year Ended 31st December 2018 |
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The directors present their report with the financial statements of the company for the year ended 31st December 2018. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1st January 2018 to the date of this report. |
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Other changes in directors holding office are as follows: |
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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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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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INCOME STATEMENT |
for the Year Ended 31st December 2018 |
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31/12/18 | 31/12/17 |
Notes | £ | £ |
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INCOME |
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Service charge expenditure |
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OPERATING PROFIT |
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Interest receivable and similar income |
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PROFIT BEFORE TAXATION |
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Tax on profit | 3 |
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PROFIT FOR THE FINANCIAL YEAR |
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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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BALANCE SHEET |
31st December 2018 |
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31/12/18 | 31/12/17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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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
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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 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. |
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The financial statements were approved by the Board of Directors on
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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2018 |
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1. | STATUTORY INFORMATION |
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The Abbey Springs Management Company Ltd is a
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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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Income |
During the year the company received monies from lessees, as agent, in respect of service charges and associated income, |
which is held on trust and does not constitute turnover. |
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Tangible fixed assets |
Freehold property is included in these financial statements at directors' valuation which reflects any diminution in value due |
to the granting of leases. For this reason the directors consider that it is inappropriate to charge depreciation on the |
remaining value of the freehold property. Furthermore, the directors consider that the residual value of the freehold |
property in 50 years time would be no less than its current value. |
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Long term creditors |
In December 2005 the lessees made one-off contributions totalling £21,262 to acquire the freehold interest in the property |
referred to in the directors' report. This was achieved by the lessees contributing £1,251 each. This amount will only be |
returned to lessees in the event of a disposal by the company of the freehold interest in the property at a later date. |
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Presentation of the income statement |
The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company accounts |
in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the |
management of the property. |
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3. | TAXATION |
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Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31/12/18 | 31/12/17 |
£ | £ |
Current tax: |
UK corporation tax |
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Tax on profit |
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THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2018 |
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4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
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COST |
At 1st January 2018 |
and 31st December 2018 |
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NET BOOK VALUE |
At 31st December 2018 |
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At 31st December 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Trade creditors |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/18 | 31/12/17 |
£ | £ |
Other creditors |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31/12/18 | 31/12/17 |
value: | £ | £ |
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Ordinary | £1 | 23 | 23 |
THE ABBEY SPRINGS MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 04095121) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2018 |
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9. | RESERVES |
Retained |
earnings |
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Profit for the year |
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Transfer to Service Charge Account | (490 | ) |
At 31st December 2018 |
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10. | CONTINGENT LIABILITIES |
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The company had no contingent liabilities at 31st December 2018 (2017 - none). |
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11. | CAPITAL COMMITMENTS |
31/12/18 | 31/12/17 |
£ | £ |
Contracted but not provided for in the |
financial statements |
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12. | RELATED PARTY DISCLOSURES |
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The company is a mutual trading company and as such received income in the form of service charge from residents, some |
of whom are directors of the company. Service charges payable by the directors are on the same basis as for all of the other |
residents. |