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COMPANY REGISTRATION NUMBER: 4547335
CARLETON MILL MANAGEMENT COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2021
CARLETON MILL MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2021
2021
2020
Note
£
£
£
£
CURRENT ASSETS
Debtors
5
761
2,435
Cash at bank and in hand
6,602
4,132
-------
-------
7,363
6,567
CREDITORS: amounts falling due within one year
7
4,189
3,480
-------
-------
NET CURRENT ASSETS
3,174
3,087
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
3,174
3,087
-------
-------
NET ASSETS
3,174
3,087
-------
-------
CAPITAL AND RESERVES
Called up share capital
100
100
Other reserves
8
3,081
2,831
Profit and loss account
8
( 7)
156
-------
-------
SHAREHOLDERS FUNDS
3,174
3,087
-------
-------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CARLETON MILL MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 22 June 2022 , and are signed on behalf of the board by:
Mr Daniel Weatherill Stephens
Director
Company registration number: 4547335
CARLETON MILL MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, HX1 5SP.
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, in accordance with the lease and on an accruals basis.
Income
Income represents contributions received or receivable from dwelling holders towards the maintenance of the common areas, stated net of discounts and of Value Added Tax.
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. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Current and deferred tax
Service charge monies are held on trust in accordance with section 42, Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit and ground rents are taxable at the basic rate of income tax. The rate of tax applied during the year was 19%.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. STAFF COSTS
The average number of persons employed by the company during the year, including the directors, amounted to 0 (2020: 1).
5. DEBTORS
2021
2020
£
£
Trade debtors
351
Other debtors
761
2,084
----
-------
761
2,435
----
-------
6. CASH AT BANK
2021
2020
£
£
Cash at bank
6,602
4,132
-------
-------
Shareholders' contribution to sinking fund
6,602
4,132
-------
-------
Service charge money is held in trust at the Royal Bank of Scotland, Leeds under the title "Regent Management Ltd re Carleton Mill Man Co Ltd"
7. CREDITORS: amounts falling due within one year
2021
2020
£
£
Trade creditors
1,441
1,439
Other creditors
2,748
2,041
-------
-------
4,189
3,480
-------
-------
8. RESERVES
Accumulated funds - This reserve records retained surpluses and deficits. Maintenance reserve
2021 2020
£ £
Balance brought forward 2,831 2,581
Provision for the year 250 250
------- -------
Balance carried forward 3,081 2,831
------- -------
The reserve for maintenance has been established to meet the cost of large, non-regular repair and maintenance work. Any shortfall in these funds resulting from expenditure incurred will be charged to the Statement of Income and Retained Earnings in that year.