Albion Court (Norwich) Management Company Limited 12827058 false 2022-09-01 2023-12-31 2023-12-31 The principal activity of the company is that of property management services. Digita Accounts Production Advanced 6.30.9574.0 true 12827058 2022-09-01 2023-12-31 12827058 2023-12-31 12827058 core:CurrentFinancialInstruments 2023-12-31 12827058 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 12827058 bus:SmallEntities 2022-09-01 2023-12-31 12827058 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-12-31 12827058 bus:FullAccounts 2022-09-01 2023-12-31 12827058 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-12-31 12827058 bus:RegisteredOffice 2022-09-01 2023-12-31 12827058 bus:Director1 2022-09-01 2023-12-31 12827058 bus:Director2 2022-09-01 2023-12-31 12827058 bus:Director3 2022-09-01 2023-12-31 12827058 bus:Director4 2022-09-01 2023-12-31 12827058 bus:CompanyLimitedByGuarantee 2022-09-01 2023-12-31 12827058 1 2022-09-01 2023-12-31 12827058 countries:EnglandWales 2022-09-01 2023-12-31 12827058 2022-08-31 12827058 2021-09-01 2022-08-31 12827058 2022-08-31 12827058 core:CurrentFinancialInstruments 2022-08-31 12827058 core:CurrentFinancialInstruments core:WithinOneYear 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 12827058

Albion Court (Norwich) Management Company Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2022 to 31 December 2023

 

Albion Court (Norwich) Management Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Albion Court (Norwich) Management Company Limited

Company Information

Directors

Mr R W Kay

Ms S C Connor

Mrs E L Green

Mr G A P Beck

Registered office

Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

Accountants

Perk Accounting Ltd
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Albion Court (Norwich) Management Company Limited

(Registration number: 12827058)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

53,349

53,349

Current assets

 

Debtors

5

-

3,121

Cash at bank and in hand

 

8,160

4,766

 

8,160

7,887

Creditors: Amounts falling due within one year

6

(60,781)

(60,993)

Net current liabilities

 

(52,621)

(53,106)

Net assets

 

728

243

Reserves

 

Retained earnings

728

243

Surplus

 

728

243

For the financial period ending 31 December 2023 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 August 2024 and signed on its behalf by:
 

.........................................
Mr R W Kay
Director

 

Albion Court (Norwich) Management Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

These financial statements were authorised for issue by the Board on 28 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The company has extended it's accounting period from August to December, for increased clarity to coincide with the service charge period invoiced to each leaseholder of the properties it manages. The accounts therefore show a period of 16 months compared to the prior period of 12 months and therefore the comparative amounts presented are not entirely comparable.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Albion Court (Norwich) Management Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 4 (2022 - 4).

4

Investment properties

2023
£

At 1 September

53,349

At 31 December

53,349

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2023
£

2022
£

Other debtors

-

3,121

 

Albion Court (Norwich) Management Company Limited

Notes to the Unaudited Financial Statements for the Period from 1 September 2022 to 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

171

57

Accruals and deferred income

-

4,728

Other creditors

60,610

56,208

60,781

60,993