Company registration number 02195563 (England and Wales)
ALBANY GARDENS MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ALBANY GARDENS MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ALBANY GARDENS MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
25 DECEMBER 2023
25 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Property, plant and equipment
3
1
1
Current assets
Debtors
4
1,493
1,698
Cash at bank and in hand
92,233
87,512
93,726
89,210
Creditors: amounts falling due within one year
5
(71,416)
(69,408)
Net current assets
22,310
19,802
Net assets
22,311
19,803
Capital and reserves
Called up share capital
51
51
Property maintenance reserve fund
22,260
19,752
Total equity
22,311
19,803
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 25 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 4 April 2024 and are signed on its behalf by:
Mrs S Cox
Director
Company Registration No. 02195563
ALBANY GARDENS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Albany Gardens Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Drury lane, Solihull, West Midlands, United Kingdom, B91 3BD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Income
Service charges receivable represent amounts due to the company from the provision of services, which fall within the company's ordinary activities. The company is not registered for value added tax.
1.3
Residents contributions
Residents contributions are credited to the members balances account from which transfers of service charges are made in accordance with the accounting policy above
1.4
Tangible fixed assets
Since the freehold interest in land is shown at a notional value, no depreciation for the year is charged.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
ALBANY GARDENS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 DECEMBER 2023
- 3 -
3
Tangible fixed assets
Land and buildings
£
Cost
At 26 December 2022 and 25 December 2023
14,500
Depreciation and impairment
At 26 December 2022 and 25 December 2023
14,499
Carrying amount
At 25 December 2023
1
At 25 December 2022
1
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,493
1,698
5
Creditors: amounts falling due within one year
2023
2022
£
£
Service charges in advance
69,616
67,608
Accruals and deferred income
1,800
1,800
71,416
69,408