Silverfin false false 31/12/2023 01/01/2023 31/12/2023 Mark Martin 04/04/2017 12 April 2024 The principal activity continues to be that of a residents property management company. 10707802 2023-12-31 10707802 bus:Director1 2023-12-31 10707802 core:CurrentFinancialInstruments 2023-12-31 10707802 core:CurrentFinancialInstruments 2022-12-31 10707802 2022-12-31 10707802 core:RetainedEarningsAccumulatedLosses 2023-12-31 10707802 core:RetainedEarningsAccumulatedLosses 2022-12-31 10707802 2023-01-01 2023-12-31 10707802 bus:FilletedAccounts 2023-01-01 2023-12-31 10707802 bus:SmallEntities 2023-01-01 2023-12-31 10707802 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 10707802 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 10707802 bus:Director1 2023-01-01 2023-12-31 10707802 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 10707802 (England and Wales)

LYSNOWETH HOUSE MANAGEMENT LIMITED

(A company limited by guarantee)

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

LYSNOWETH HOUSE MANAGEMENT LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

LYSNOWETH HOUSE MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2023
LYSNOWETH HOUSE MANAGEMENT LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2023
2023 2022
£ £
Current assets
Debtors 3 3,261 2,505
Cash at bank and in hand 1,964 10,754
5,225 13,259
Creditors: amounts falling due within one year 4 ( 10,304) ( 12,859)
Net current (liabilities)/assets (5,079) 400
Total assets less current liabilities (5,079) 400
Net (liabilities)/assets ( 5,079) 400
Reserves
Profit and loss account ( 5,079 ) 400
Total reserves ( 5,079) 400

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Lysnoweth House Management Limited (registered number: 10707802) were approved and authorised for issue by the Director on 12 April 2024. They were signed on its behalf by:

Mark Martin
Director
LYSNOWETH HOUSE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
LYSNOWETH HOUSE MANAGEMENT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lysnoweth House Management Limited (the Company) is a private company, limited by guarantee, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £5,079. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Taxation

The company operates on a mutual trading basis and is not carrying on a business for the purposes of making a profit so is not liable to corporation tax.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 0 0

3. Debtors

2023 2022
£ £
Trade debtors 3,147 2,505
Other debtors 114 0
3,261 2,505

4. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 5,464 3,983
Accruals and deferred income 1,858 8,623
Payments received on account 2,982 0
Other creditors 0 253
10,304 12,859

5. Liability of members

The members of the Lysnoweth House Management Limited have undertaken to contribute a sum not exceeding £1 each to meet the liabilities of the Company if it should be wound up.