Company Registration No. 13233693 (England and Wales)
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
PAGES FOR FILING WITH REGISTRAR
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Statement of financial position
2
Notes to the financial statements
3 - 4
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED FOR THE YEAR ENDED 28 FEBRUARY 2023
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 97 Winchester Street Management Company Limited for the year ended 28 February 2023 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
UHY Hacker Young
1 November 2023
Chartered Accountants
St Johns Chambers
Love Street
Chester
Cheshire
CH1 1QN
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2023
28 February 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1
1
Current assets
Debtors
4
1,292
Cash at bank and in hand
2,390
1,740
2,390
3,032
Creditors: amounts falling due within one year
5
(500)
(3,033)
Net current assets/(liabilities)
1,890
(1)
Net assets
1,891
Reserves
Sinking Fund Reserve
1,891
Members' funds
1,891
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
These financial statements have been prepared 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'.
For the financial year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the board of directors and authorised for issue on 1 November 2023 and are signed on its behalf by:
Mr H Dixon
Director
Company registration number 13233693
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023
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1
Accounting policies
Company information
97 Winchester Street Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Building Farm, Tetchill, Ellesmere, Shropshire, SY12 9HJ.
1.1
Accounting convention
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'.
Basis of Preparation:
The financial statements are prepared in sterling, which is the functional currency of the entity.
As a Residential Management company, a statutory trust exists over service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and that the company accts as a trustee in this capacity.
For similar reasons, the closing balance of cash and other assets are held in trust by the company and include:
o Bank balance
o Debtors
1.2
Turnover
Turnover represents income from property service charges.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
3
3
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2022 and 28 February 2023
1
Depreciation and impairment
At 1 March 2022 and 28 February 2023
Carrying amount
At 28 February 2023
1
At 28 February 2022
1
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2023
- 4 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,292
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
500
3,033
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
7
Sinking Fund Reserve
2023
2022
£
£
Opening balance
-
-
Transfer from the Income and Expenditure Account
1,891
-
Closing balance
1,891
-
8
Directors' transactions
Interest free loans have been granted by the directors to the company as follows:
Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Henry Dixon
-
2,553
(2,553)
-
2,553
(2,553)
-