Registered number
05733199
Newark Avenue Block Management Limited
Filleted Accounts
31 December 2023
Newark Avenue Block Management Limited
Registered number: 05733199
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,606 2,227
Current assets
Debtors 4 1,210 810
Cash at bank and in hand 7,941 7,214
9,151 8,024
Creditors: amounts falling due within one year 5 (516) (510)
Net current assets 8,635 7,514
Net assets 10,241 9,741
Capital and reserves
Subsidence reserve 6 8,644 7,944
Profit and loss account 1,597 1,797
Shareholders' funds 10,241 9,741
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 M Bean
Director
Approved by the board on 31 July 2024
Newark Avenue Block Management Limited
Notes to the Accounts
for the year ended 31 December 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).
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 3,701
At 31 December 2023 3,701
Depreciation
At 1 January 2023 1,474
Charge for the year 621
At 31 December 2023 2,095
Net book value
At 31 December 2023 1,606
At 31 December 2022 2,227
4 Debtors 2023 2022
£ £
Trade debtors 1,210 810
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 516 510
6 Subsidence reserve 2023 2022
£ £
At 1 January 2023 7,944 7,278
Movement on reserves 700 666
At 31 December 2023 8,644 7,944
Members had previously agreed that with effect from 2018 additional contributions would be made to the subsidence reserve to make good the effect of annual inflation since inception. This has been increased annually in line with the Retail Prices Index since then. During 2023 additional contirbutions of £300 were made from the income reserves to achieve the annual instalment of this aim.
7 Controlling party
The Company is limited by guarantee, and as such has no issued share capital. There is one member per flat so that each flat has equal voting rights. There is therefore no controlling party.
8 Other information
Newark Avenue Block Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
17a Newark Avenue
Peterborough
PE1 4NH
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