REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24TH MARCH 2024 |
FOR |
THE MALTINGS RTM COMPANY LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24TH MARCH 2024 |
FOR |
THE MALTINGS RTM COMPANY LIMITED |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24TH MARCH 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 5 |
THE MALTINGS RTM COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 24TH MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Sutherland House |
1759 London Road |
Leigh on Sea |
Essex |
SS9 2RZ |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 24TH MARCH 2024 |
The directors present their report with the financial statements of the company for the year ended 24th March 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of of the administration of variable service charges as agents of the statutory trust for the residents of Old Maltings, New Maltings and Hazards House. |
In accordance with guidance contained in ICAEW publication Tech 3/11 and FRC UITF publication 92 (withdrawn) the company have recorded transactions where it may be deemed to have been acting as a principal or undisclosed agent to purchase goods and services on behalf of the service charge. |
Balances in the financial statements also relate to amounts due to or from the service charge. |
Lessees can obtain the full set of information about service charges in separately prepared service charge accounts. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 25th March 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
INCOME STATEMENT |
FOR THE YEAR ENDED 24TH MARCH 2024 |
2024 | 2023 |
£ | £ |
TURNOVER |
Administrative expenses |
(226,427 | ) | (154,496 | ) |
Other operating income |
OPERATING PROFIT |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
BALANCE SHEET |
24TH MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
RESERVES |
Retained earnings | ( |
) |
( |
) |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 24TH MARCH 2024 |
1. | STATUTORY INFORMATION |
The Maltings RTM Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | SERVICE CHARGE BALANCES |
Service Charge funds are held in trust at Barclays Bank. |
At the balance sheet date balances reflected in the separate service charge accounts were: |
Unpaid service charges due £308,991 (2023 £289,098) |
Managing agent's Barclays client account £15,452 (2023 £18,018) |
Barclays Reserve account £9,221 (2023 £24,685) |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 25th March 2023 |
and 24th March 2024 |
DEPRECIATION |
At 25th March 2023 |
and 24th March 2024 |
NET BOOK VALUE |
At 24th March 2024 |
THE MALTINGS RTM COMPANY LIMITED (REGISTERED NUMBER: 05746481) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 24TH MARCH 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security | ( |
) | ( |
) |
Other creditors |
8. | CONTINGENT LIABILITIES |
Following litigation and mediation with a leaseholder during the period 2015/2016, on legal advice, a claim for recovery of unpaid service charges totalling £14,072 was abandoned. The directors recognise that the company may have a liability to make good the shortfall, but this would be subject to the outcome of any future legal opinion sought, and the mitigating effect of any possible counterclaims. |