Registration number:
Caldwell House Management Company Limited (A company limited by guarantee)
for the Year Ended 24 December 2023
Caldwell House Management Company Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Caldwell House Management Company Limited
Company Information
Directors |
S J Attenborough P C Challis B Murphy |
Company secretary |
Willmotts (Ealing) Limited |
Registered office |
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Independent Auditor |
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Caldwell House Management Company Limited
(Registration number: 03372213)
Statement of Financial Position as at 24 December 2023
Note |
2023 |
2022 |
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Non-current assets |
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Property, plant and equipment |
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Current assets |
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Receivables |
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Cash at bank |
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Payables: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Equity |
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General reserve |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.
The financial statements of Caldwell House Management Company Limited were approved and authorised for issue by the
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Director
Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023
General information |
Caldwell House Management Company Limited (the 'company') is a company limited by guarantee, registered in England and Wales under the Companies Act, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
Accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Departures from Companies Act requirements
The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment adopted. |
Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)
2 |
Accounting policies (continued) |
Judgements
There are no critical judgements made by the directors in the process of applying the company’s accounting policies which have the most significant effect on the amounts recognised in the financial statements. |
Revenue recognition
Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.
Service charge income represents variable service charges receivable from the members for the year. Reserve fund income represents contributions receivable from the members for the year.
Taxation
The company acts as a trustee in respect of funds held to manage 48 Trinity Church Road, Barnes, London, SW13. In consequence, service charge and reserve fund contributions and service charge and reserve fund expenditure items are neither taxable nor allowable for corporation tax purposes. Income tax is provided on investment income at the current rate of tax when the income tax liability is greater than £100.00.
Property, plant and equipment
Tangible fixed assets comprises the freehold land at Caldwell House, 48 Trinity Church Road, Barnes, London, SW13 8EJ, which is stated as a nominal value of £1. No depreciation is provided on this.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and are subject to an insignificant risk of change in value.
Receivables
Service charge and reserve fund arrears are amounts due at the financial year end from the members.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.Payables are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Financial instruments
Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Taxation |
2023 |
2022 |
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Income tax on interest received |
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The company acts as trustee in respect of funds held to manage 48 Trinity Church Road, Barnes, London, SW13. Investment income is subject to income tax at the rate of tax of 20% (2022/23 - 20%). No liability to UK corporation tax arose on activities for the year ended 24 December 2023 nor for the year ended 24 December 2022.
Property, plant and equipment |
Freehold land |
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Cost |
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At 25 December 2022 |
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At 24 December 2023 |
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Carrying amount |
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At 24 December 2023 |
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At 24 December 2022 |
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Receivables |
2023 |
2022 |
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Other debtors |
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Prepayments and accrued income |
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Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)
Cash and cash equivalents |
2023 |
2022 |
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Cash at bank - client account |
305,573 |
281,020 |
Cash at bank - NatWest deposit account |
93,731 |
91,725 |
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Funds are held in trust at National Westminster Bank Plc in a designated client account maintained by Willmotts (Ealing) Limited, the managing agents, and in a deposit account under the title Willmotts (Ealing) Limited Clients Account Re Caldwell House.
Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)
Payables |
Note |
2023 |
2022 |
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Due within one year |
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Service charge creditors - unpaid invoices |
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Service charge and reserve fund receipts in advance |
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Income tax liability |
459 |
- |
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Other creditors |
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Accruals and deferred income |
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Reserves |
General reserve |
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£ |
£ |
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At 25 December 2022 |
356,959 |
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Service charge deficit |
(1,905) |
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Reserve fund annual contribution |
30,000 |
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Reserve fund expenditure |
- |
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Gross interest received |
2,006 |
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Tax on interest received |
(459) |
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Total surplus for the year |
29,642 |
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At 24 December 2023 |
386,601 |
Reserves
The general reserve represents cumulative surpluses or deficits and reserve fund contributions net of reserve fund expenditure.
Related party transactions |
There were no related party transactions to disclose.
Caldwell House Management Company Limited
Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)
Audit report |