REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 |
FOR |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Suite 1, Aireside House |
Royd Ings Avenue |
Keighley |
West Yorkshire |
BD21 4BZ |
BANKERS: |
Bradford Broadway Branch |
1 Market Street |
Bradford |
West Yorkshire |
BD1 1EG |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
BALANCE SHEET |
31 DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Revaluation reserve | 8 |
Other reserves |
SHAREHOLDERS' FUNDS |
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 |
(b) | 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. |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
BALANCE SHEET - continued |
31 DECEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Bolton Court Estate Management Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
TURNOVER |
This represents service charges, ground rents and levies receivable equally from the members together with garage rents receivable for the year. |
INVESTMENT PROPERTY |
Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. |
TAXATION |
The company is carrying on a mutual business for the benefit of its members and therefore any surplus arising from members' contributions will not be assessable to Corporation Tax. Any investment income received may be assessable to Corporation Tax in the normal manner depending on the amount of income received. |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
GOING CONCERN |
The financial statements have been prepared on a going concern basis. |
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and for a period of at least 12 months from the date of approval of these financial statements. |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
OTHER RESERVES - MAINTENANCE RESERVE |
Repair costs are written off as expenditure is incurred. |
Any surplus of income over expenditure is required to be carried forward as maintenance reserve for use towards future repair costs, however such reserve is not necessarily intended to be sufficient to cover actual major items of repair expenditure which may have to be incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2020 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2021 |
and 31 December 2021 |
NET BOOK VALUE |
At 31 December 2021 |
At 31 December 2020 |
Investment property comprises garages available for rent by the residents of Bolton Court. The value of the investment property has been arrived at on the basis of a previous valuation carried out by Mr J S Oddy, the former Company Secretary and a Chartered Surveyor at £13,000 (2020: £13,000). The valuation was made on an open market value basis and is still considered to represent fair value. |
The cost to the company of its investment property is £Nil (2020: £Nil). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
BOLTON COURT ESTATE MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 02427002) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2021 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade creditors |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
Ordinary | 1 | 40 | 40 |
8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 January 2021 |
and 31 December 2021 |
The revaluation reserve represents the surplus arising on the revaluation of freehold land and buildings less a provision for deferred tax. The deferred tax provision on the surplus on revaluation of the company's investment property amounts to £2,470 (2020: £2,470). |