Company Registration No. 13233693 (England and Wales)
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1
1
Current assets
Cash at bank and in hand
2,512
2,390
Creditors: amounts falling due within one year
4
(520)
(500)
Net current assets
1,992
1,890
Net assets
1,993
1,891
Reserves
Sinking Fund Reserve
1,993
1,891
Members' funds
1,993
1,891
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the financial year ended 28 February 2024 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 financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the board of directors and authorised for issue on 9 April 2024 and are signed on its behalf by:
Mr H Dixon
Director
Company registration number 13233693
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information
97 Winchester Street Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Building Farm, Tetchill, Ellesmere, Shropshire, SY12 9HJ.
1.1
Accounting convention
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
Basis of Preparation:
The financial statements are prepared in sterling, which is the functional currency of the entity.
As a Residential Management company, a statutory trust exists over service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and that the company accts as a trustee in this capacity.
For similar reasons, the closing balance of cash and other assets are held in trust by the company and include:
o Bank balance
1.2
Turnover
Turnover represents income from property service charges.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 and 28 February 2024
1
Depreciation and impairment
At 1 March 2023 and 28 February 2024
Carrying amount
At 28 February 2024
1
At 28 February 2023
1
97 WINCHESTER STREET MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
520
500
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
6
Sinking Fund Reserve
2024
2023
£
£
Opening balance
1,891
-
Transfer from the Income and Expenditure Account
102
1,891
Closing balance
1,993
1,891