South Lawns (Reigate) Management Company Limited 6774015 false 2021-01-01 2021-12-31 2021-12-31 The principal activity of the company is that of residents property management. Digita Accounts Production Advanced 6.29.9459.0 true true 6774015 2021-01-01 2021-12-31 6774015 2021-12-31 6774015 bus:OrdinaryShareClass1 2021-12-31 6774015 bus:OrdinaryShareClass2 2021-12-31 6774015 core:OtherReservesSubtotal 2021-12-31 6774015 core:RetainedEarningsAccumulatedLosses 2021-12-31 6774015 core:ShareCapital 2021-12-31 6774015 core:CurrentFinancialInstruments 2021-12-31 6774015 core:CurrentFinancialInstruments core:WithinOneYear 2021-12-31 6774015 bus:SmallEntities 2021-01-01 2021-12-31 6774015 bus:AuditExemptWithAccountantsReport 2021-01-01 2021-12-31 6774015 bus:FullAccounts 2021-01-01 2021-12-31 6774015 bus:SmallCompaniesRegimeForAccounts 2021-01-01 2021-12-31 6774015 bus:RegisteredOffice 2021-01-01 2021-12-31 6774015 bus:CompanySecretary1 2021-01-01 2021-12-31 6774015 bus:Director2 2021-01-01 2021-12-31 6774015 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 6774015 bus:OrdinaryShareClass2 2021-01-01 2021-12-31 6774015 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 6774015 countries:EnglandWales 2021-01-01 2021-12-31 6774015 2020-01-01 2020-12-31 6774015 2020-12-31 6774015 bus:OrdinaryShareClass1 2020-12-31 6774015 bus:OrdinaryShareClass2 2020-12-31 6774015 core:OtherReservesSubtotal 2020-12-31 6774015 core:RetainedEarningsAccumulatedLosses 2020-12-31 6774015 core:ShareCapital 2020-12-31 6774015 core:CurrentFinancialInstruments 2020-12-31 6774015 core:CurrentFinancialInstruments core:WithinOneYear 2020-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 6774015

South Lawns (Reigate) Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

 

South Lawns (Reigate) Management Company Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 5

 

South Lawns (Reigate) Management Company Limited

Company Information

Director

A J Hope

Company secretary

In Block Management Ltd

Registered office

2nd Floor
22 South Street
Epsom
KT18 7PF

Accountants

Harmer Slater Limited
Chartered Accountants and Business Advisors
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

South Lawns (Reigate) Management Company Limited

(Registration number: 6774015)
Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

4

19,106

20,367

Cash at bank and in hand

 

45,288

38,372

 

64,394

58,739

Creditors: Amounts falling due within one year

5

(27,008)

(24,959)

Net assets

 

37,386

33,780

Equity

 

Called up share capital

6

2,401

2,401

Major projects reserve

30,000

30,000

Retained surplus

4,985

1,379

Shareholders' funds

 

37,386

33,780

For the financial 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income statement has been taken.

The financial statements of South Lawns (Reigate) Management Company Limited were approved and authorised for issue by the director on 23 August 2022
 

.........................................

A J Hope
Director

 

South Lawns (Reigate) Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021

1

General information

South Lawns (Reigate) Management Company Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

The principal place of business is:
Flat 1
73 Reigate Road
Reigate
Surrey
RH2 0RE

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Summary of disclosure exemptions

The company meets the definition of a qualifying entity under FRS 102 and has therefore taken advantage of the disclosure exemptions available to it in respect of its separate financial statements. The company is consolidated in the financial statements of its parent, , which may be obtained from . Exemptions have been taken in these separate company financial statements in relation to financial instruments, presentation of a cash flow statement, transactions with group entities and remuneration of key management personnel..

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

 

South Lawns (Reigate) Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

2

Accounting policies (continued)

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Revenue recognition

Service charges collected are held on trust for the puposes 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.

Service charge income represents variable service charges receivable from the members for the year.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Receivables

Service charge arrears are amounts due at the financial year end from its members.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2020 - 0).

 

South Lawns (Reigate) Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)

4

Receivables

2021
£

2020
£

Trade receivables

7,700

14,000

Prepayments

11,406

6,367

19,106

20,367

5

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade payable

2,833

-

Other payables

3,300

3,300

Accruals

4,075

4,859

Service charges in advance

16,800

16,800

27,008

24,959

6

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary shares of £1 each

2,400

2,400

2,400

2,400

Founder shares of £0.20 each

5

1

5

1

 

2,405

2,401

2,405

2,401