Leighton Hall Management Company Limited
Company limited by guarantee
Filleted accounts
31 August 2022
Company registration number:
05536488
Leighton Hall Management Company Limited
Company limited by guarantee
Directors and other information
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Directors |
P N Cook |
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H R Huntington |
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Company number |
05536488 |
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Registered office |
Hanborough House |
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5 Wallbrook Court |
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Botley |
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Oxford |
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OX2 0QS |
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Accountants |
Cox Hinkins & Co. Limited |
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Accountants and Taxation Advisors |
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The Old Dairy |
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12 Stephen Road |
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Headington |
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Oxford |
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OX3 9AY |
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Leighton Hall Management Company Limited
Company limited by guarantee
Balance sheet
31st August 2022
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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5 |
50,194 |
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35,034 |
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Cash at bank and in hand |
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369,598 |
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428,675 |
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_______ |
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_______ |
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419,792 |
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463,709 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
144,093) |
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(
151,760) |
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_______ |
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_______ |
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Net current assets |
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275,699 |
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311,949 |
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_______ |
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Net assets |
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275,699 |
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311,949 |
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_______ |
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_______ |
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Capital and reserves |
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Major repair reserve |
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7 |
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178,200 |
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118,800 |
Profit and loss account |
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97,499 |
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193,149 |
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_______ |
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_______ |
Members funds |
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275,699 |
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311,949 |
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_______ |
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_______ |
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For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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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 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 Income & expenditure account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
18 October 2023
, and are signed on behalf of the board by:
P N Cook
Director
Company registration number:
05536488
Leighton Hall Management Company Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31st August 2022
1.
General information
The company is a private company limited by guarantee, registered in England & Wales. The address of the registered office is Hanborough House, 5 Wallbrook Court, Botley, Oxford, OX2 0QS. There was no significant change in the company's principal activity during the year which continued to be
undertaking the management and administration of the halls of residence at Leighton Hall, Leighton Street, Preston.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The principal accounting policies are set out below. The financial statements are prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for amounts receoverable from the tenants of the properties. Turnover represents service charge income receivable in respect of the year under review.
Taxation
The company is a mutual trading company and is only liable to tax on income received from non-members and interest received. On the basis of these accounts, no charge to corporation tax arises. Deferred tax is also not applicable.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2021:
5
).
5.
Debtors
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2022 |
2021 |
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£ |
£ |
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Trade debtors |
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9,340 |
3,067 |
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Other debtors |
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40,854 |
31,967 |
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_______ |
_______ |
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50,194 |
35,034 |
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_______ |
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6.
Creditors: amounts falling due within one year
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2022 |
2021 |
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£ |
£ |
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Trade creditors |
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23,479 |
46,642 |
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Other creditors |
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120,614 |
105,118 |
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_______ |
_______ |
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144,093 |
151,760 |
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_______ |
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7.
Reserves
The major repair reserve has been established to provide funds in order to pay for major repairs which are expected to arise in the future. The present level of the fund may prove insufficient, given the uncertainty as to when such costs may arise. Any shortfall in these funds resulting from expenditure incurred will be charged to the income and expenditure account in that year.
Total
£
At 1st September 2021
118,800
Transfer from income & expenditure account
59,400
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At 31st August 2022
178,200
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