REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
ASHA HOUSE MANAGEMENT COMPANY LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
FOR |
ASHA HOUSE MANAGEMENT COMPANY LTD |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ASHA HOUSE MANAGEMENT COMPANY LTD |
COMPANY INFORMATION |
for the Year Ended 31st August 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ossington Chambers |
6-8 Castle Gate |
Newark |
Nottinghamshire |
NG24 1AX |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
BALANCE SHEET |
31st August 2023 |
31/8/23 | 31/8/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
RESERVES |
Income and expenditure account | 9 |
The director acknowledges his 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. |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
BALANCE SHEET - continued |
31st August 2023 |
The financial statements were approved by the director and authorised for issue on |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st August 2023 |
1. | STATUTORY INFORMATION |
Asha House Management Company Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents service charge contributions receivable in the period. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Computer equipment | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in surplus or deficit. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Presentation of the income statement |
The presentation of the Income Statement on page 3 has been modified from the prescribed format for company accounts in order to provide more information to leaseholders and other parties who may be interested in the expenditure incurred in the management of the property. |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Computer |
machinery | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st September 2022 |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st August 2023 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st September 2022 |
Disposals | ( |
) |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Other debtors |
Prepayments |
ASHA HOUSE MANAGEMENT COMPANY LTD (REGISTERED NUMBER: 06222618) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st August 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Other creditors |
Service Charge Surplus | 220,586 | - |
Deferred income |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/8/23 | 31/8/22 |
£ | £ |
Bank loans |
9. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1st September 2022 |
Surplus for the year |
Transfer to Service Charge Surplus | (220,586 | ) |
At 31st August 2023 |
10. | RELATED PARTY DISCLOSURES |
During the year, the company was charged management fees of £78,000 (2022 - £76,500) by Birkin Homes Ltd. Mr B S Smith-Hilliard is the sole director and sole shareholder of Birkin Homes Ltd. |
11. | LIMIT OF MEMBERS LIABILITY |
The liability of the members of the company is limited by guarantee to £1 each. |