Woodridge Court Management Company Limited |
Registered number: |
04820157 |
Balance Sheet |
as at 23 June 2023 |
|
Notes |
|
|
2023 |
|
|
2022 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
96,613 |
|
|
96,613 |
|
Current assets |
Debtors |
4 |
|
142,315 |
|
|
170,241 |
|
Creditors: amounts falling due within one year |
5 |
|
(25,939) |
|
|
(43,964) |
|
Net current assets |
|
|
|
116,376 |
|
|
126,277 |
|
Net assets |
|
|
|
212,989 |
|
|
222,890 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
1,004 |
|
|
1,004 |
Share premium |
|
|
|
95,609 |
|
|
95,609 |
Profit and loss account |
7 |
|
|
116,376 |
|
|
126,277 |
|
Shareholders' funds |
|
|
|
212,989 |
|
|
222,890 |
|
|
|
|
|
|
|
|
The directors are 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 directors acknowledge their 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. |
|
|
|
|
Mr R J Morris |
Director |
Approved by the board on 12 March 2024 |
|
Woodridge Court Management Company Limited |
Notes to the Accounts |
for the year ended 23 June 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). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents ground rent, maintenance fees receivable and administrative charges levied on the leaseholders of Woodridge Court. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Fixed assets comprise the freehold land on which Woodridge Court stands. Depreciation is not provided on the freehold land. |
|
|
|
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 |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 24 June 2022 |
96,613 |
|
At 23 June 2023 |
96,613 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 23 June 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 23 June 2023 |
96,613 |
|
At 23 June 2022 |
96,613 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
158 |
|
158 |
|
Other debtors |
142,157 |
|
170,083 |
|
|
|
|
|
|
142,315 |
|
170,241 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Taxation and social security costs |
281 |
|
148 |
|
Other creditors |
25,658 |
|
43,816 |
|
|
|
|
|
|
25,939 |
|
43,964 |
|
|
|
|
|
|
|
|
|
|
6 |
Property management arrangements |
|
|
The company has engaged the property management services of RJ Chartered Surveyors and delegated to that entity the responsibility for the collection of income and payment of liabilities. |
|
|
As a result our bank account is no longer an account under the company's direct control. It is held, as a client account, and operated by RJ Chartered Surveyors. This has been done in order to integrate into RJ Chartered Surveyors' work order and payment system. RJ Chartered Surveyors is the trading name of ‘The JWT Partnership Limited’. From an accounting view point, our bank account balance remains a current asset but is no longer described as ‘Cash at bank and in hand’ and is included under the heading of ‘Other debtors’. |
|
|
7 |
Profit and loss account reserves |
|
|
The company's recurring maintenance, management and governance costs incurred in each financial year are met from the service charges levied in that year. The directors are of the opinion that the whole of the accumulated profit and loss account reserves at the balance sheet date are available to defray on future major repair expenditure. |
|
|
8 |
Controlling party |
|
|
The ultimate controlling parties are any combination of the company’s shareholders who together would form a voting majority. |
|
|
9 |
Other information |
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|
Woodridge Court Management Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: |
|
19 Alexandra Road |
|
Gorseinon |
|
Swansea |
|
SA4 4NW |