02262424falsemaintaining and servicing the properties comprising Palmerston Court2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:CompanySecretary12022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director12022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director22022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director32022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director42022-07-012023-06-30http://www.companieshouse.gov.uk/cd:RegisteredOffice2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director52022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director62022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director72022-07-012023-06-30http://www.companieshouse.gov.uk/cd:AuditExemptWithAccountantsReport2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:Director82022-07-012023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2023-06-30http://www.companieshouse.gov.uk/pt:CurrentFinancialInstruments2022-06-30http://www.companieshouse.gov.uk/2021-07-012022-06-30http://www.companieshouse.gov.uk/2022-07-012023-06-30http://www.companieshouse.gov.uk/2022-06-30http://www.companieshouse.gov.uk/cd:FRS1022022-07-012023-06-30http://www.companieshouse.gov.uk/2023-06-30http://www.companieshouse.gov.uk/cd:FullAccounts2022-07-012023-06-30http://www.companieshouse.gov.uk/cd:PrivateLimitedCompanyLtd2022-07-012023-06-30iso4217:GBPxbrli:sharesxbrli:pure
Registered number: 02262424
PALMERSTON COURT MANAGEMENT LIMITED
REPORT AND ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
Prepared By:
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
PALMERSTON COURT MANAGEMENT LIMITED
ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
DIRECTORS
CP Sheeter
A Aranha
M Walsh
F Kormendy
CD Jiggins
DF Samuels
S Matin (from 27/02/2023)
W Driver (from 01/07/2022)
SECRETARY
Wilson Hawkins Property Management Ltd
REGISTERED OFFICE
33-35 High Street
Harrow on the Hill
Middlesex
HA1 3HT
COMPANY DETAILS
Private company limited by guarantee registered in EW - England and Wales, registered number 02262424
ACCOUNTANTS
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
PALMERSTON COURT MANAGEMENT LIMITED
ACCOUNTS
FOR THEYEARENDED30 JUNE 2023
CONTENTS
Page
Directors' Report3
Accountants' Report4
Statement Of Comprehensive Income5
Balance Sheet6
Notes To The Accounts7
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-
PALMERSTON COURT MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THEYEARENDED30 June 2023
The directors present their report and accounts for theyearended30 June 2023
DIRECTORS
The directors who served during theyearwere as follows:
CP Sheeter
A Aranha
M Walsh
F Kormendy
CD Jiggins
DF Samuels
S Matin (from 27/02/2023)
W Driver (from 01/07/2022)
STATEMENT OF DIRECTORS RESPONSIBILITIES
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulation.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements the directors are required to:
- Select suitable accounting policies and then apply them consistently;
- Make judgements and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report of the directors has been prepared in accordance with the special provisions within Part 15 of the Companies Act 2006.
This report was approved by the board on19 February 2024
CP Sheeter
Director
PALMERSTON COURT MANAGEMENT LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE UNAUDITED ACCOUNTS
OF PALMERSTON COURT MANAGEMENT LIMITED, FOR THE YEAR ENDED 30 JUNE 2023
In order to assist you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the accounts of Palmerston Court Management Limited for the year ended 30 June 2023 as set out on pages 5 to (1) from the company's accounting records and from information and explanations you have given us.
As a practising member of the Institute of Chartered Accountants in England & Wales, we are subject to its ethical and other professional requirements which are detailed on their website.
This report is made solely to the Board of Directors of Palmerston Court Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Palmerston Court Management Limited and state those matters that we have agreed to state to the Board of Directors of Palmerston Court Management Limited, as a body, in this report, in accordance with the requirements of the Institute of Chartered Accountants in England & Wales as detailed on their website. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Palmerston Court Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Palmerston Court Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profitability of Palmerston Court Management Limited. You consider that Palmerston Court Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Palmerston Court Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Reed-Ransted
Chartered Accountants
2 Burhill Grove
Pinner
Middlesex
HA5 3DW
19 February 2024
PALMERSTON COURT MANAGEMENT LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THEYEARENDED30 June 2023
Notes20232022
££
TURNOVER67,31660,982
GROSS PROFIT67,31660,982
Administrative expenses(65,010)(60,013)
OPERATING PROFIT2,306969
Interest receivable and similar income952
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION2,401971
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION2,401971
PALMERSTON COURT MANAGEMENT LIMITED
BALANCE SHEET AT30 June 2023
Registered number: 02262424ilableforSmallEntities
20232022
Notes££
CURRENT ASSETS
Debtors314,65919,941
Cash at bank and in hand9,20816,123
23,86736,064
CREDITORS: Amounts falling due within one year47,48822,086
NET CURRENT ASSETS16,37913,978
TOTAL ASSETS LESS CURRENT LIABILITIES16,37913,978
CAPITAL AND RESERVES
Profit and loss account516,37913,978
SHAREHOLDERS' FUNDS16,37913,978
For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board on19 February 2024and signed on their behalf by
.............................
CP Sheeter
Director
PALMERSTON COURT MANAGEMENT LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Turnover
Turnover represents the invoiced value of service charges rendered to property owners by the company.
2. EMPLOYEES
20232022
No.No.
Average number of employees/officers87
3. DEBTORS 20232022
££
Amounts falling due within one year
Service charges due6,80915,734
Prepayments7,8504,207
14,65919,941
4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Trade creditors4,6311,783
Other creditors-16,860
Due to related companies1,8301,830
Accruals1,0271,613
7,48822,086
PALMERSTON COURT MANAGEMENT LIMITED
5. PROFIT AND LOSS RESERVE 20232022
££
Opening balance13,97813,007
Profit for the year2,401971
16,37913,978
6. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS 20232022
££
Opening shareholders' funds13,97813,007
Profit for the year2,401971
Closing shareholders' funds16,37913,978
7. RELATED PARTY TRANSACTIONS
The directors of the company are also directors of Harvestway Limited, the company which owns the freehold of the properties comprising Palmerston Court. Other creditors includes an amount of £1,830 (2022: £1,830) due to Harvestway Limited which is interest free.
8. GUARANTEE
The company is limited by guarantee. There are 20 members, each of whose liability in the event of the company being wound up is limited to £1.
9. CONTROLLING PARTY
The company is controlled by the twenty guarantors.