REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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Millennium Management (Penryn 2006) |
Limited |
REGISTERED NUMBER:
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Abbreviated Unaudited Accounts |
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for the Year Ended 31 December 2014 |
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for |
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Millennium Management (Penryn 2006) |
Limited |
Millennium Management (Penryn 2006) |
Limited (Registered number: 06020059) |
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Contents of the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
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Chartered Accountant's Report | 6 |
Millennium Management (Penryn 2006) |
Limited |
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Company Information |
for the Year Ended 31 December 2014 |
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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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ACCOUNTANT: |
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K Hutchins |
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Millennium Management (Penryn 2006) |
Limited (Registered number: 06020059) |
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Abbreviated Balance Sheet |
31 December 2014 |
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2014 | 2013 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Share premium |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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 |
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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. |
Millennium Management (Penryn 2006) |
Limited (Registered number: 06020059) |
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Abbreviated Balance Sheet - continued |
31 December 2014 |
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The financial statements were approved by the Board of Directors on
its behalf by: |
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Millennium Management (Penryn 2006) |
Limited (Registered number: 06020059) |
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Notes to the Abbreviated Accounts |
for the Year Ended 31 December 2014 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
It has been determined that the company acts as principal when conducting the management affairs of |
the company on behalf of residents and members. This decision has been reached by reference to |
the criteria set out in FRS 5 "Reporting the Substance of Transactions" Application Note G paragraphs |
G62 to G66. |
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In accordance with guidance set out in Urgent Issues Task Force (UITF) Abstract 92 "Residential |
Management Companies Financial Statements", the company has recognised service charges to |
lessees and the relevant expenditure outlaid within its' Profit and Loss Account. |
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The Financial Reporting Council (FRC) has now issued FRED 50 Draft Abstract 1 and Consequential |
Amendments to FRSSE. This guidance now directs Residential Management Companies to prepare |
accounts as if they are acting as the principal when conducting management affairs on behalf of |
residents and members. This guidance is planned to be effective from 1 January 2015, but early |
adoption is permitted. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standard for Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents service charges and other fees charged to flat owners during the year and derives |
from the provision of services falling within the company's ordinary activities. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Millennium Management (Penryn 2006) |
Limited (Registered number: 06020059) |
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Notes to the Abbreviated Accounts - continued |
for the Year Ended 31 December 2014 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 January 2014 |
and 31 December 2014 |
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DEPRECIATION |
At 1 January 2014 |
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Charge for year |
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At 31 December 2014 |
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NET BOOK VALUE |
At 31 December 2014 |
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At 31 December 2013 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2014 | 2013 |
value: | £ | £ |
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Ordinary | £1 |
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4. | RELATED PARTY DISCLOSURES |
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Income includes fees from shareholders and directors for flat management fees. these are at arms |
length value. |
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A payment of £159 was made to the NFU for directors liability insurance. |
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A director of the company |
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Payments totally £4,000 were made to Mr Lauder for management and secretarial services. |
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5. | ULTIMATE CONTROLLING PARTY |
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The company is controlled by the members. Each flat owner is eligible for one share in the company |
and therefore one vote for matters requiring the votes of members. |
Chartered Accountant's Report to the Board of Directors |
on the Unaudited Financial Statements of |
Millennium Management (Penryn 2006) |
Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
pages two to five) have been prepared. |
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In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval |
the financial statements of Millennium Management (Penryn 2006) Limited for the year ended |
31 December 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes |
from the company's accounting records and from information and explanations you have given me. |
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As a practising member of the Institute of Chartered Accountants in England and Wales (ICAEW), I am subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Millennium Management (Penryn 2006) Limited, as a body, in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Millennium Management (Penryn 2006) Limited and state those matters that I have agreed to state to the Board of Directors of Millennium Management (Penryn 2006) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for my work or for this report. |
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It is your duty to ensure that Millennium Management (Penryn 2006) 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 loss of Millennium Management (Penryn 2006) Limited. You consider that Millennium Management (Penryn 2006) Limited is exempt from the statutory audit requirement for the year. |
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I have not been instructed to carry out an audit or a review of the financial statements of Millennium |
Management (Penryn 2006) Limited. For this reason, I have not verified the accuracy or completeness of the |
accounting records or information and explanations you have given to me and I do not, therefore, express any |
opinion on the statutory financial statements. |
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K Hutchins |
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29 September 2015 |