IRIS Accounts Production
v19.2.0.596
04493685
Board of Directors
1.1.18
31.12.18
31.12.18
the management of the property known as Wilton Castle, Redcar, Cleveland.
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REGISTERED NUMBER:
04493685
(England and Wales)
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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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WILTON CASTLE (WILTON) MANAGEMENT
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Report of the Directors
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2
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Notes to the Financial Statements
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5
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SECRETARY:
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Town & City Secretaries Ltd |
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REGISTERED OFFICE:
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Ossington Chambers
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REGISTERED NUMBER:
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04493685 (England and Wales)
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ACCOUNTANTS:
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Stephenson Nuttall & Co
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The directors present their report with the financial statements of the company for the year ended 31st December 2018. |
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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Miss D Barker - resigned 26th January 2018
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M Cairnes - resigned 26th January 2018
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V V Kuby - resigned 13th August 2018
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Mrs D J Taylor was appointed as a director after 31st December 2018 but prior to the date of this report.
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A M Burnett ceased to be a director after 31st December 2018 but prior to the date of this report.
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The company is limited by guarantee and has no share capital. The liability of each member is limited to £1.
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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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GROSS SURPLUS
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93,346
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87,591
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|
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Service Charge Expenditure
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85,271
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83,326
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|
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OPERATING SURPLUS
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8,075
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4,265
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|
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Interest receivable and similar income
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111
|
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8
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|
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SURPLUS BEFORE TAXATION
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8,186
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4,273
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|
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SURPLUS FOR THE FINANCIAL YEAR
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7,671
|
|
3,813
|
|
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Tangible assets
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4
|
77,484
|
|
77,484
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|
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Amounts falling due within one year
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6
|
131,524
|
|
122,561
|
|
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NET CURRENT LIABILITIES
|
(75,504
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) |
(76,918
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) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES
|
1,980
|
|
566
|
|
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Income and expenditure account
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7
|
1,980
|
|
566
|
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2018 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for:
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(a)
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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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(b)
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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 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 on
3rd September 2019 and were signed on its behalf by:
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Wilton Castle (Wilton) Management Company Limited is a
private company, limited by guarantee , registered in England
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|
and Wales. The company's registered number and registered office address can be found on the Company Information page.
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
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During the year the company received monies from lessees, as agent, in respect of service charges and associated income,
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which are held on trust and do not constitute turnover.
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No depreciation is provided on the cost of the Freehold property as, in the opinion of the directors, the current value is
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supported by the value of ground rents receivable.
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Presentation of income statement
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The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company accounts
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in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the
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management of the property.
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Analysis of the tax charge
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The tax charge on the surplus for the year was as follows:
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|
UK corporation tax
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515
|
|
460
|
|
|
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and 31st December 2018
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77,484
|
|
|
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At 31st December 2018
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77,484
|
|
|
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At 31st December 2017
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77,484
|
|
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5.
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DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
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Trade Debtors
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1,800
|
|
1,065
|
|
|
|
Bank balances held
|
42,261 |
|
34,834 |
|
|
6.
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CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|
|
|
Trade creditors
|
4,114
|
|
2,758
|
|
|
|
Loans to fund Freehold Purchase
|
59,500
|
|
59,500
|
|
|
|
Estate Reserve Fund
|
7,995 |
|
16,053 |
|
|
|
Tree Maintenance Fund
|
900 |
|
900 |
|
|
|
Reserve Fund - Buildings
|
44,067 |
|
34,989 |
|
|
|
Service Charge Account
|
10,099 |
|
3,842 |
|
|
|
Accrued expenses
|
4,025
|
|
4,209
|
|
|
|
Surplus for the year
|
7,671
|
|
|
|
Transfer to Service Charge
Account
|
(6,257 |
) |
|
|
At 31st December 2018
|
1,980
|
|
|
8.
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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
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of who are directors of the company. Service charges payable by the directors are on the same basis as for all of the other
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residents. No other transactions with related parties were undertaken such as are required to be disclosed under the
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