REGISTERED NUMBER: |
Fieldgate House Management Company |
(Kenilworth) Limited |
Unaudited Financial Statements |
for the Year Ended |
30 June 2023 |
REGISTERED NUMBER: |
Fieldgate House Management Company |
(Kenilworth) Limited |
Unaudited Financial Statements |
for the Year Ended |
30 June 2023 |
Fieldgate House Management Company |
(Kenilworth) Limited (Registered number: 02719582) |
Contents of the Financial Statements |
for the Year Ended 30 June 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Fieldgate House Management Company |
(Kenilworth) Limited |
Company Information |
for the Year Ended 30 June 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 Clarendon Place |
Leamington Spa |
Warwickshire |
CV32 5QL |
Fieldgate House Management Company |
(Kenilworth) Limited (Registered number: 02719582) |
Balance Sheet |
30 June 2023 |
30.6.23 | 30.6.22 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 6 |
Maintenance and Decoration Fund | 7 |
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. |
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 |
Fieldgate House Management Company |
(Kenilworth) Limited (Registered number: 02719582) |
Notes to the Financial Statements |
for the Year Ended 30 June 2023 |
1. | STATUTORY INFORMATION |
Fieldgate House Management Company (Kenilworth) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
The turnover is stated net of value added tax and is attributable to the principal activity of the company. Turnover represents contributions receivable in the year relating to expenditure within the year. With effect from 1 January 2014, it was agreed that the rate of contribution would increase to £1,200 per annum and that would continue to also include the annual buildings insurance. Any unusual expenditure attracts further special contributions which are paid once the budget for a project has been approved by all of the members. |
Sinking fund |
Contributions accrue and are collected from shareholders under the terms of five leases (at various dates 1994 to 1996) in respect of Flats 1 - 5 Fieldgate House and each with a term of 120 years commencing 24 June 1992. The rate of contribution has varied in amount by agreement of the shareholders in meetings convening same as the subject matter. The latest change has effect from 1 January 2014. |
Maintenance costs incurred in the relevant accounting period are allocated to each flat according to agreed shares. Any contributions paid in excess of such allocated amounts do not form part of the company's profit available for general purposes; covenants between lessee, lessor and Management Company under each lease state that each "Lessee shall … be credited in the books of the Management Company with any amount overpaid" (see 4. (iii)). Such amounts are aggregated in a sinking fund ('the Maintenance and Decoration Fund') which will be used to meet the building maintenance and periodic re-decoration obligations to be met by Fieldgate House Management Company (Kenilworth) Limited under the terms of the leases. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Other debtors |
Prepayments |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.6.23 | 30.6.22 |
£ | £ |
Accrued expenses |
Fieldgate House Management Company |
(Kenilworth) Limited (Registered number: 02719582) |
Notes to the Financial Statements - continued |
for the Year Ended 30 June 2023 |
6. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.6.23 | 30.6.22 |
value: | £ | £ |
Ordinary | £1 | 5 | 5 |
7. | RESERVES |
Maintenance |
and |
Retained | Decoration |
earnings | Fund | Totals |
£ | £ | £ |
At 1 July 2022 |
Profit for the year |
Transfer from profit and loss account |
- |
1,513 |
1,513 |
At 30 June 2023 | 2,078 |
8. | TAX STATUS OF THE COMPANY |
The company by definition collects contributions from the members for the sole purpose of maintaining and running common areas of the block of flats involved. The company does not therefore generate any taxable income and as such is dormant for tax purposes. The company has an agreement with H M Revenue and Customs that at the cessation of each 5 year spell, the company will have it's status reviewed by them to continue this way. The last such review was based on the 2016-17 year and accordingly had not required this aspect again until the cessation of the 2021-22 year. This was applied for by the accountants in January 2023 but as no response from HM Revenue and Customs has been received, this has been chased again in February 2024. |