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REGISTERED NUMBER: 02184884 (England and Wales)













REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2024

FOR

TERMSAFE RESIDENTS MANAGEMENT LIMITED

TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


TERMSAFE RESIDENTS MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2024







DIRECTORS: M A Panzavecchia
A L Cobden
A M G Mungall





SECRETARY: M A Panzavecchia





REGISTERED OFFICE: c/o M Panzavecchia
11 Southfields court
Albert Drive
London
SW19 6LJ





REGISTERED NUMBER: 02184884 (England and Wales)





ACCOUNTANTS: Platt Rushton LLP
Chartered Accountants
Sutherland House
1759 London Road
Leigh on Sea
Essex
SS9 2RZ

TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31ST MARCH 2024

The directors present their report with the financial statements of the company for the year ended 31st March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of the administration of variable service charges as agents of the statutory trust for the residents of Southfields Court, Albert Drive, London, SW19.

The transactions in the year relate to maintenance of the common parts in accordance with the lease. Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. See note 5 for current balance.

Lessees can obtain detailed financial information concerning the service charges in separately prepared service charge accounts available from the directors of Termsafe Residents Management Limited.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st April 2023 to the date of this report.

M A Panzavecchia
A L Cobden
A M G Mungall

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M A Panzavecchia - Secretary


19th August 2024

TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)

INCOME STATEMENT
FOR THE YEAR ENDED 31ST MARCH 2024

2024 2023
£    £   

TURNOVER 106,364 89,158

Cost of sales 106,364 89,158
GROSS PROFIT - -

OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit - -
PROFIT FOR THE FINANCIAL YEAR - -

TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)

BALANCE SHEET
31ST MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 5 4,702 6,521

CREDITORS
Amounts falling due within one year 6 4,702 6,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

-

-

CAPITAL AND RESERVES
Called up share capital 36 36
Retained earnings (36 ) (36 )
SHAREHOLDERS' FUNDS - -

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 19th August 2024 and were signed on its behalf by:





M A Panzavecchia - Director


TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024

1. STATUTORY INFORMATION

Termsafe Residents Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. SERVICE CHARGE BALANCES

Service Charge funds are held at NatWest Bank.

At the balance sheet date balances reflected in the separate service charge accounts were:
Unpaid service charges due £5,649 (2023 £2,290)
NatWest account 41666518 £71,737 (2023 £81,315)
NatWest account 96454652 £36,041 (2023 £206)

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 4,702 6,521

TERMSAFE RESIDENTS MANAGEMENT LIMITED (REGISTERED NUMBER: 02184884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,063 5,205
Other creditors 3,639 1,316
4,702 6,521