Registered number
07541587
Willoughby Court RTM Company Limited
Directors Report and Unaudited Financial Statements
For the year ended
31 December 2023
(A company limited by guarantee)
Willoughby Court RTM Company Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Accountants' report 3
Profit and loss account 4
Balance sheet 5
Statement of changes in equity 6
Notes to the accounts 7 to 8
Willoughby Court RTM Company Limited
Company Information
Directors
Mrs Freda Lloyd
Mr Brendan Rice
Secretary
MDA Property Management (Midlands) Ltd
Accountants
MD Associates
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
Bankers
Barclays Bank plc
Registered office
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
Registered number
07541587
Willoughby Court RTM Company Limited
Registered number: 07541587
Directors' Report
The directors present their report and accounts for the year ended 31 December 2023.
Principal activities
The company's principal activity during the year continued to be that of residents property management of the development at Willoughby Court, Springfield Road, Sutton Coldfield B76 2SH.
Directors
The following persons served as directors during the year:
Mrs Freda Lloyd
Mr Brendan Rice
Status of the company
The company is limited by guarantee without a share capital. The guarantee of the members is limited to a contribution of £1 each in the event of the company being wound up. The company currently has 9 members.
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 11 September 2024 and signed on its behalf.
Mr Brendan Rice
Director
Willoughby Court RTM Company Limited
Accountants' Report
Accountants' report to the directors of
Willoughby Court RTM Company 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.
MD Associates
Accountants & Tax Advisers
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
11 September 2024
Willoughby Court RTM Company Limited
Profit and Loss Account
for the year ended 31 December 2023
2023 2022
£ £
Turnover 13,708 12,001
Administrative expenses (13,737) (11,802)
Operating (loss)/profit (29) 199
Interest receivable 170 6
Profit before taxation 141 205
Tax on profit - -
Profit for the financial year 141 205
Willoughby Court RTM Company Limited
Registered number: 07541587
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 374 -
Cash at bank and in hand 24,879 22,939
25,253 22,939
Creditors: amounts falling due within one year 4 (2,899) (726)
Net current assets 22,354 22,213
Net assets 22,354 22,213
Capital and reserves
Profit and loss account 22,354 22,213
Members' funds 22,354 22,213
The directors are 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 directors acknowledge their 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.
Mr Brendan Rice
Director
Approved by the board on 11 September 2024
Willoughby Court RTM Company Limited
Statement of Changes in Equity
for the year ended 31 December 2023
Share Share Re- Profit Total
capital premium valuation and loss
reserve account
£ £ £ £ £
At 1 January 2022 - - - 22,008 22,008
Profit for the financial year - - - 205 205
At 31 December 2022 - - - 22,213 22,213
At 1 January 2023 - - - 22,213 22,213
Profit for the financial year - - - 141 141
At 31 December 2023 - - - 22,354 22,354
Willoughby Court RTM Company 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.
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 374 -
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 2,899 726
5 Other information
Willoughby Court RTM Company Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
Sapphire Heights Courtyard
31 Tenby Street North
Birmingham
West Midlands
B1 3ES
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