Registration number:
South Lawns (Reigate) Management Company Limited
for the Year Ended 31 December 2021
South Lawns (Reigate) Management Company Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
South Lawns (Reigate) Management Company Limited
Company Information
Director |
A J Hope |
Company secretary |
In Block Management Ltd |
Registered office |
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Accountants |
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South Lawns (Reigate) Management Company Limited
(Registration number: 6774015)
Statement of Financial Position as at 31 December 2021
Note |
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2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Equity |
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Called up share capital |
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Major projects reserve |
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Retained surplus |
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Shareholders' funds |
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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:
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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
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Director
South Lawns (Reigate) Management Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021
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
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)
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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
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
South Lawns (Reigate) Management Company Limited
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2021 (continued)
Receivables |
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2020 |
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Trade receivables |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2020 |
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Due within one year |
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Trade payable |
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Other payables |
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Accruals |
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Service charges in advance |
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Share capital |
Allotted, called up and fully paid shares
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2020 |
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No. |
£ |
No. |
£ |
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2,400 |
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2,400 |
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1 |
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1 |
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