REGISTERED NUMBER: |
LANGLAND COURT |
MANAGEMENT LIMITED |
A COMPANY LIMITED BY GUARANTEE |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
REGISTERED NUMBER: |
LANGLAND COURT |
MANAGEMENT LIMITED |
A COMPANY LIMITED BY GUARANTEE |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
LANGLAND COURT |
MANAGEMENT LIMITED (REGISTERED NUMBER: 08977294) |
A COMPANY LIMITED BY GUARANTEE |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 5 |
LANGLAND COURT |
MANAGEMENT LIMITED |
A COMPANY LIMITED BY GUARANTEE |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
MHA House |
Charter Court |
Swansea Enterprise Park |
Swansea |
SA7 9FS |
LANGLAND COURT |
MANAGEMENT LIMITED (REGISTERED NUMBER: 08977294) |
A COMPANY LIMITED BY GUARANTEE |
BALANCE SHEET |
30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Other reserves | 7 |
MEMBERS' FUNDS |
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 surplus or deficit 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
LANGLAND COURT |
MANAGEMENT LIMITED (REGISTERED NUMBER: 08977294) |
A COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
Langland Court Management Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
The financial statements are presented to the nearest pound. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
The directors are confident that the company will have sufficient financial resources to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. |
Accordingly they continue to prepare the financial statements on a going concern basis. |
Turnover and revenue recognition |
Turnover represents service charge income. Revenue is recognised in the period to which it relates. |
Financial instruments |
Basic financial assets, which include other debtors and cash and bank balances, are initially measured at transaction price unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. |
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 |
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. |
LANGLAND COURT |
MANAGEMENT LIMITED (REGISTERED NUMBER: 08977294) |
A COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
2. | ACCOUNTING POLICIES - continued |
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 (2022 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts due from residents | - | 600 |
5. | CASH AT BANK |
2023 | 2022 |
£ | £ |
Bank current account | 2,525 | 762 |
Section 42 of the Landlord and Tenant Act 1987 (the holding of funds) requires that any service charge monies collected by the company are held on trust for the payment of service charge expenditure. |
Cash at bank balance as at the balance sheet date is in respect of these monies collected. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Accruals |
LANGLAND COURT |
MANAGEMENT LIMITED (REGISTERED NUMBER: 08977294) |
A COMPANY LIMITED BY GUARANTEE |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
7. | RESERVES |
Income |
and |
expenditure | Other |
account | reserves | Totals |
£ | £ | £ |
At 1 May 2022 |
Surplus for the year |
Transfer | - | 1,113 | 1,113 |
At 30 April 2023 | 2,175 |
Other reserves relate to a sinking fund provision. |
8. | LIMITED BY GUARANTEE |
The company is limited by guarantee and, as such, has no share capital. All members of the company have guaranteed to contribute, in the event of winding up, an amount not exceeding £1 each. |