IRIS Accounts Production
v24.2.0.383
05136146
director
1.9.22
31.8.23
31.8.23
the management of the property known as The Junxion, Brayford Wharf East, Lincoln.
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REGISTERED NUMBER: 05136146 (England and Wales) |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
THE JUNXION MANAGEMENT COMPANY LIMITED |
Notes to the Financial Statements |
5 |
|
|
REGISTERED OFFICE: |
Ossington Chambers |
|
REGISTERED NUMBER: |
05136146 (England and Wales) |
|
ACCOUNTANTS: |
Stephenson Nuttall & Co |
The director presents his report with the financial statements of the company for the year ended 31st August 2023. |
R J L Philpott held office during the whole of the period from 1st September 2022 to the date of this report. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
R J L Philpott - Director |
TURNOVER |
1,679,720 |
|
2,022,752 |
|
|
Service charge expenditure |
1,638,038 |
|
2,025,000 |
|
|
Other operating income |
11,029 |
|
10,115 |
|
|
OPERATING PROFIT |
52,711 |
|
7,867 |
|
|
Interest receivable and similar income |
2,048 |
|
- |
|
|
PROFIT BEFORE TAXATION |
54,759 |
|
7,867 |
|
|
PROFIT FOR THE FINANCIAL YEAR |
54,370 |
|
7,867 |
|
|
Debtors |
5 |
378,652 |
|
474,913 |
|
|
Amounts falling due within one year |
6 |
378,553 |
|
474,814 |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
99 |
|
99 |
|
|
Called up share capital |
7 |
99 |
|
99 |
|
|
SHAREHOLDERS' FUNDS |
99 |
|
99 |
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006. |
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 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 director and authorised for issue on 29th August 2024 and were signed by: |
R J L Philpott - Director |
|
The Junxion Management Company 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. |
|
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 represents service charge contributions receivable in the period. |
| 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 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. |
|
Reserve Funds are held on trust on behalf of the leaseholders and are intended to contribute towards the costs of future non-annual maintenance. |
|
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. |
3. |
EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was 18 (2022 - 16 ) . |
|
Director's remuneration |
- |
|
- |
|
|
|
Analysis of the tax charge |
|
The tax charge on the profit for the year was as follows: |
5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade debtors |
31,362 |
|
20,737 |
|
|
|
Balances held by Managing Agent |
321,998 |
|
337,591 |
|
|
|
Student Investor Deficit |
- |
|
18,142 |
|
|
|
Prepayments |
25,292 |
|
98,443 |
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade creditors |
71,561 |
|
99,358 |
|
|
|
Student Investor Reserve Fund |
118,645 |
|
271,314 |
|
|
|
Estate Reserve Fund |
44,433 |
|
47,625 |
|
|
|
Estate Surplus |
2,264 |
|
3,065 |
|
|
|
Student Investor Surplus |
37,029 |
|
- |
|
|
|
Accrued expenses |
104,232 |
|
53,452 |
|
|
7. |
CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
|
Number: |
Class: |
Nominal |
31/8/23 |
|
31/8/22 |
|
Profit for the year |
54,370 |
|
|
|
Transfer to Student Investor Surplus |
(55,171 |
) |
|
|
Transfer to Estate Surplus |
801 |
|
|
9. |
RELATED PARTY DISCLOSURES |
|
During the year the company was charged an amount of £4,000 (2022 - £4,000) by Mr R J L Philpott for his services acting as a property consultant for the company. |