REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
THE KNOLL MANAGEMENT LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
THE KNOLL MANAGEMENT LIMITED |
THE KNOLL MANAGEMENT LIMITED (REGISTERED NUMBER: 02216789) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
THE KNOLL MANAGEMENT LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
9 High Street |
Woburn Sands |
Milton Keynes |
MK17 8RF |
THE KNOLL MANAGEMENT LIMITED (REGISTERED NUMBER: 02216789) |
STATEMENT OF FINANCIAL POSITION |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Freehold acquisition reserve |
Property maintenance reserve |
SHAREHOLDERS' FUNDS |
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 KNOLL MANAGEMENT LIMITED (REGISTERED NUMBER: 02216789) |
STATEMENT OF FINANCIAL POSITION - continued |
31ST DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE KNOLL MANAGEMENT LIMITED (REGISTERED NUMBER: 02216789) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
The Knoll Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Taxation |
No liability to UK corporation tax arose on ordinary activities for the period ended 31st December 2022 nor for the year ended 30th June 2021. |
Under current tax regulations, the company is not liable to corporation tax on income generated from the services charges receivable. |
The company would normally be liable to corporation tax on any other source of income, including bank interest. However, HMRC has granted a concession exempting the company from liability to tax a long as these sources of income remain relatively insignificant. |
Maintenance fund |
The reserves consist of a maintenance fund that is budgeted by the company, to equalise annually the cost to the property owners of anticipated cyclical maintenance of the property, particularly where this expenditure occurs less frequently than annually. The budget is calculated to cover routine costs as well as large non-regular repair and maintenance work, where these costs can be reasonably forseen and quantified The present level of the fund is sufficient to meet budgeted expenditure in the forthcoming year without being significantly reduced by the year end. |
Service charges |
Service charge monies received are held in trust at Cater Allen Private Bank under the title The Knoll Management Limited. |
Freehold property |
The company acquired the freehold title to the site occupied by the properties. Because the title was acquired on a 'not for investment' basis, the cost value stated in the financial statements,will not be annually reviewed unless the directors believe the value to have been permanently diminished. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
THE KNOLL MANAGEMENT LIMITED (REGISTERED NUMBER: 02216789) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
7. | RELATED PARTY DISCLOSURES |
There is no controlling or ultimate controlling party. Each resident owns a property and by virtue of such ownership is entitled to hold a £10 share in the company. |