COMPANY REGISTRATION NUMBER:
04170904
FRIARS MEAD FLAT MANAGEMENT COMPANY LIMITED
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Company Limited by Guarantee
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FILLETED UNAUDITED FINANCIAL STATEMENTS
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FRIARS MEAD FLAT MANAGEMENT COMPANY LIMITED
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COMPANY LIMITED BY GUARANTEE
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STATEMENT OF FINANCIAL POSITION
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30 June 2018
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
The company did not trade during the current year or prior year and has not made either a profit or loss.
For the year ending 30 June 2018 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
26 February 2019
, and are signed on behalf of the board by:
Company registration number:
04170904
FRIARS MEAD FLAT MANAGEMENT COMPANY LIMITED
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COMPANY LIMITED BY GUARANTEE
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NOTES TO THE FINANCIAL STATEMENTS
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YEAR ENDED 30 JUNE 2018
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Flat 7 Crosby Court, Carlisle Place, London, N11 1JW, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Contractual commitments
The company contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts in accordance with the terms of the leases. At 30 June 2018 the company had not entered into any non-cancellable contractual commitments.
Service charge accounts
The company has no income or expenditure in its own right, all transactions in the year being related to the maintenance of common parts in accordance with the lease. Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. Information relating to service charges is now dealt with as a separate statement of account.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
Income statement
The company is dormant as defined by section 1169 of the Companies Act 2006. The company received no income and incurred no expenditure during the current year or prior year and therefore no income statement is presented within these financial statements. There have been no movements in members funds during the current year or prior year.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Company limited by guarantee
Every member of the Company undertakes to contribute such amount as may be required (not exceeding £1) to the Company's assets if it should be would up while they are a member or within one year after he ceased to be a member, and of the costs, charges and expenses of winding up, for the adjustment of the rights of the contributories amount themselves.
5.
Related party transactions
The lessees are the owners of the company and contribute to the service charge for the property in accordance with the proportions prescribed within their leases on an arms length basis. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102. There is no ultimate controlling party.