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 |