Registered number
02586414
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Service Charge Accounts
for the year ended
31 December 2023
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Report and accounts
Contents
Page
Company information 1
Director's report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Notes to the accounts 6
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Company Information
Director
R Pitt
Accountants
Enigma Accounting and Consulting Limited
421 Tonbridge Road
Maidstone
Kent
ME16 8NJ
Bankers
Barclays Bank plc
Starling Bank
Registered office
15 Bournewood Close
Downswood
Maidstone
Kent
ME15 8TJ
Registered number
02586414
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Registered number: 02586414
Director's Report
The director presents his report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be the collection of service charges and ground rent and the expenditure thereof.
Directors
The following persons served as directors during the year:
R Pitt
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 31 August 2024 and signed on its behalf.
R Pitt
Director
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Accountants' Report
Accountants' report to the director of
MODELMOVE RESIDENTS ASSOCIATION LIMITED
You consider that the company is exempt from an audit for the year ended 31 December 2023. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Enigma Accounting and Consulting Limited
Accountants
421 Tonbridge Road
Maidstone
Kent
ME16 8NJ
31 August 2024
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Service Charges Account - Income and Expenditure
for the year ended 31 December 2023
2023 2022
£ £
Income
Service charges demanded 9,519 5,917
Insurance claim received 1,305
Management Pack Fee 160
Ground Rent Demanded 600 600
11,584 6,517
Expenditure
Ground rent 600 600
Buildings and officers insurance 2,254 1,382
Communal light and heat - 289
Communal repairs and maintenance 4,005 2,895
Communal gardening 1,342 1,320
Communal cleaning 630 695
Accountancy fees 350 350
Bank charges 76 101
Support management fee 1,078 335
Companies House - Annual return 13 13
10,348 7,980
Surplus /(Deficit) 1,236 (1,463)
Breakdown of expenditure
£ £
Commual repairs and maintenance 4,005 2,895
Roof vent tiles above flat 4 340
Cleaing gutters 01/06/2023 95
Cleaing gutters 06/06/2023 95
Painting external masonary and woodwork 2,980
Window cleaner 495 225
Repair communal lighting 102
Insurance claim - Window replacement 1,670
Roof repairs 860
Drainage works 38
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Registered number: 02586414
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 273 965
Cash at bank and in hand 5,095 3,308
5,368 4,273
Creditors: amounts falling due within one year 4 (522) (663)
Net current assets 4,846 3,610
Capital and reserves
Called up share capital 6 6
Profit and loss account 4,840 3,604
Shareholders' funds 4,846 3,610
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
R Pitt
Director
Approved by the board on 31 August 2024
MODELMOVE RESIDENTS ASSOCIATION LIMITED
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
The Company holds exemption from Corporation Tax.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2023 2022
£ £
Trade debtors - 422
Other debtors 273 543
273 965
4 Creditors: amounts falling due within one year 2023 2022
£ £
Non-equity preference shares 152 300
Other creditors 370 363
522 663
5 Related party transactions
R Pitt is a related party as a director and shareholders. There are no transactions between R Pitt and the Company.
6 Controlling party
There is no one party the controls the Company. All 6 shareholders hold an equal amount of shares.
7 Other information
MODELMOVE RESIDENTS ASSOCIATION LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
15 Bournewood Close
Downswood
Maidstone
Kent
ME15 8TJ
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