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Registration number: 01035748

Sunningdale (Spring Grove) Management Limited
 

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 24 June 2023

 

Sunningdale (Spring Grove) Management Limited

(Registration number: 01035748)
Statement of Financial Position as at 24 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

311

311

Current assets

 

Debtors

5

-

12,535

Cash at bank and in hand

 

-

11,044

 

-

23,579

Creditors: Amounts falling due within one year

6

-

(1,681)

Net current assets

 

-

21,898

Net assets

 

311

22,209

Capital and reserves

 

Capital reserve

311

311

Other reserves

-

20,227

Income and expenditure account

-

1,671

Total equity

 

311

22,209

For the financial year ending 24 June 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 7 March 2024 and signed on its behalf by:
 

.........................................
Mr A H Poray
Director

 

Sunningdale (Spring Grove) Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is: Building 4 Dares Farm Business Park Farnham Road, Ewshot, Farnham, GU10 5BB. England.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Changes in accounting policy

New standards, interpretations and amendments effective

The following have been applied for the first time from 25 June 2022 and have had an effect on the financial statements:

The company acts as trustee of a statutory trust in respect of service charge monies collected for the maintenance of Flats 1 - 5 Spring Grove, Charters Road, Ascot.

The company has changed its accounting policy to exclude these funds from the company's accounts as separate
service charge accounts are prepared and certified.

Revenue recognition

Turnover represents the service charges receivable from the residents for the year in question and is derived wholly within the UK.

The company is responsible for the management of Flats 1-5 Spring Grove, Charters Road, Ascot and collects service charges from lessees in order to fund expenditure incurred in the management of the property.
These service charge funds are held in trust for the lessees as required by the Landlord and Tenant Act 1987.
Transactions relating to the management of the property are reported separately to the lessees and are excluded from the company's financial statements.
 

 

Sunningdale (Spring Grove) Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2023

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

The value of the freehold property represents the cost of obtaining the reversionary interest in the land and has therefore not been depreciated.

Asset class

Depreciation method and rate

Freehold land

Nil

Maintenance contributions receivable

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

Due to the nature of the company's activities there were no employees in the current or previous year.

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 25 June 2022

311

311

At 24 June 2023

311

311

Depreciation

Carrying amount

At 24 June 2023

311

311

At 24 June 2022

311

311

 

Sunningdale (Spring Grove) Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 24 June 2023

5

Debtors

2023
£

2022
£

Maintenance contributions receivable

-

9,832

Other debtors

-

1,247

Prepayments

-

1,456

-

12,535

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Accruals and deferred income

-

1,681