Company Registration No. 06474491 (England and Wales)
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2016
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT
FOR THE YEAR ENDED 4 APRIL 2016
- 1 -
The directors present their report and financial statements for the year ended 4 April 2016.
Principal activities
The principal activity of the company continued to be that of managing the property and amenities at Bays Farm Court, Bath Road, West Drayton, Middlesex UB7 0DY for the mutual benefit of lessees, who are members of the company. The company has no income or expenditure in its own right, all transactions in the year being related to the maintenance of the communal areas 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.
The company has no income or expenditure in its own right, all transactions in the year being related to the maintenance of the communal areas 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.
Directors
The following directors have held office since 5 April 2015:
S. Shinh
M.S. Mughal
T.M. Owen
G. Singh
Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
S. Shinh
Director
2 December 2016
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BAYS FARM COURT RTM COMPANY LIMITED FOR THE YEAR ENDED 4 APRIL 2016
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bays Farm Court RTM Company Limited for the year ended 4 April 2016 set out on pages 3 to 5 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Bays Farm Court RTM Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Bays Farm Court RTM Company Limited and state those matters that we have agreed to state to the Board of Directors of Bays Farm Court RTM Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bays Farm Court RTM Company Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Bays Farm Court RTM 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 loss of Bays Farm Court RTM Company Limited. You consider that Bays Farm Court RTM 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 Bays Farm Court RTM 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.
David Howard
2 December 2016
Chartered Accountants
1 Park Road
Hampton Wick
Kingston-Upon-Thames
Surrey
KT1 4AS
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 4 APRIL 2016
- 3 -
2016
2015
Notes
£
£
Loss on ordinary activities before taxation
-
-
Tax on loss on ordinary activities
-
-
Loss for the year
-
-
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
4 APRIL 2016
04 April 2016
- 4 -
2016
2015
Notes
£
£
£
£
Current assets
Total assets less current liabilities
-
-
Capital and reserves
Shareholders' funds
-
-
For the financial year ended 4 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and the Financial Reporting Standard for Smaller Entities (effective January 2015).
Approved by the Board for issue on 2 December 2016
S. Shinh
Director
Company Registration No. 06474491
BAYS FARM COURT RTM COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 4 APRIL 2016
- 5 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). The company which contracts with third parties in its own name for the supply of maintenance and services to the communal areas of the property, has no income or expenditure in its own right. All transactions in the year relate to maintenance of the communal areas in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual statutory accounts and are not filed at Companies House. All service charge monies received from individual lessees are held on trust for the lessees, as a body.
The company which contracts with third parties in its own name for the supply of maintenance and services to the communal areas of the property, has no income or expenditure in its own right. All transactions in the year relate to maintenance of the communal areas in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual statutory accounts and are not filed at Companies House. All service charge monies received from individual lessees are held on trust for the lessees, as a body.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Every member of the Company undertakes to contribute such amount as may be required, not exceeding £1, to the assets of the Company in the event of the Company being wound up whilst a member, or within one year of ceasing to be a member, for payment of the debts and liabilities of the Company contracted before ceasing to be a member, and of the costs, charges and expenses of winding up the Company, and for the adjustment of the rights of the contributories among themselves.