REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 11767985) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
6 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 11767985) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 11767985) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Beechwood Freehold Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover in the profit and loss account represents ground rents demanded during the year. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
The original cost of the freehold interest was £79,312. Six flats have now participated and the value of the company's interest has been written down to the proportion in respect of the one non-participating flat. |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 11767985) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Due to service charge accounts |
Accruals and deferred income |
6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
The monies for the purchase of the whole freehold were provided by Mr and Mrs Lloyd Davies, of Flat 1 as a loan to the company. Shares in the company have subsequently been purchased by six flat owners, the one non-participating share being held by Mrs Lloyd Davies. The loan to the company has not been fully repaid, and will be outstanding until the one remaining share is sold. The full proceeds plus any profit (if any), will be paid to Mrs Lloyd Davies in order to repay the outstanding company loan. Certain expenses and costs have been incurred by Mr and Mrs Lloyd Davies subsequent to the purchase of the freehold. Until such time as the freehold intended for flat 6 is sold by Mr & Mrs Lloyd-Davies, the ground rent received from flat 6 will be paid to them in its entirety. |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | 1 | 7 | 7 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 December 2023 | ( |
) |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beechwood Freehold Management Company Limited for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Beechwood Freehold Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beechwood Freehold Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Beechwood Freehold Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beechwood Freehold Management Company Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Beechwood Freehold Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Beechwood Freehold Management Company Limited. You consider that Beechwood Freehold Management Company Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Beechwood Freehold Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
BEECHWOOD FREEHOLD MANAGEMENT COMPANY |
LIMITED |