The directors present their annual report and financial statements for the year ended 31 December 2016.
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Harris Yard (Saffron Walden) No 2 Management Company Limited for the year ended 31 December 2016 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
It is your duty to ensure that Harris Yard (Saffron Walden) No 2 Management Company 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 deficit of Harris Yard (Saffron Walden) No 2 Management Company Limited. You consider that Harris Yard (Saffron Walden) No 2 Management Company 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 Harris Yard (Saffron Walden) No 2 Management Company 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.
Harris Yard (Saffron Walden) No 2 Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Market House, 10 Market Walk, Saffron Walden, Essex, CB10 1JZ.
The financial statements are prepared under the historical cost convention.
The company was dormant (within the meaning of Section 480 of the Companies Act 2006) throughout the year ended 31 December 2015. The company has not trading during the year or during the preceding financial year. During these periods, the company received no income and incurred no expenditure and therefore made neither profit nor loss.
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.
These financial statements for the year ended 31 December 2016 are the first financial statements of Harris Yard (Saffron Walden) No 2 Management Company Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 January 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
In accordance with the transitional exemption in section 35 of FRS 102, Harris Yard (Saffron Walden) No 2 Management Company Limited has elected to retain its accounting policies for reported assets, liabilities and equity before the date of transition to FRS 102.
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
Service charges
The company is responsible for the management of 34-44 Harris Yard, Saffron Walden, Essex, CB11 3AR and collects service charges from lessees in order to fund expenditure in the management of the property. These service charge funds are held in trust for the lessees as required by the Landlord & Tenant Act 1987. Transactions relating to the management of the property are reported separately to the lessees and are excluded from the company's accounts.
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.