Registered number
03231814
The Water Gardens (Blocks N, P and Q) Management Limited
Filleted Accounts
31 March 2023
The Water Gardens (Blocks N, P and Q) Management Limited
(Limited by Guarantee)
Registered number: 03231814
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 10,900 8,344
Cash at bank and in hand 35,861 39,998
46,761 48,342
Creditors: amounts falling due within one year 4 (46,761) (48,342)
Net current assets - -
Net assets - -
Capital and reserves
- -
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Miss D. Lewis
Director
Approved by the board on 20 November 2023
The Water Gardens (Blocks N, P and Q) Management Limited
(Limited by Guarantee)
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The company operates on a mutual trading basis and is not liable to corporation tax. Funds held by the company on behalf of the residents are deemed to be a trust under Section 43 of the Landlord & Tenant Act 1987 and liable to taxation on the interest received.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Debtors 2023 2022
£ £
Tenants' contributions 4,098 2,105
Prepayments 3,900 3,337
Other debtors 2,902 2,902
10,900 8,344
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 74 4,218
Tenants' contributions received in advance 2,984 4,256
Accruals 612 1,176
Other creditors (see below) 43,091 38,692
46,761 48,342
Other creditors is the balance on the service charge account, which represents the amounts held on account of future expenditure. Excess service charge monies are held in trust by the company and do not form part of the company's reserves.
5 Other information
The Water Gardens (Blocks N, P and Q) Management Limited is a company limited by guarantee and not having a share capital and is incorporated in England. Each member of the company is liable for the amount of the guarantee, not exceeding £10 to the company's assets if it should be wound up while he/she is a member or within one year after ceasing to be a member.
The company is responsible for the communal areas and building insurance cover in respect of the properties at Nos. 50 - 114 Evens and 53 - 89 Odds New Road, Hackbridge, Surrey. The company has appointed Regency Estate Management as Managing Agents. Its registered office is:
The Beechwood Centre
40 Lower Gravel Road
Bromley
Kent
BR2 8GP
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