REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Century House (Shrewsbury) Management |
Company Limited |
REGISTERED NUMBER: |
Report of the Directors and |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
Century House (Shrewsbury) Management |
Company Limited |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Contents of the Financial Statements |
for the year ended 31 December 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Statement of Financial Position | 5 |
Statement of Changes in Equity | 7 |
Notes to the Financial Statements | 8 |
Century House (Shrewsbury) Management |
Company Limited |
Company Information |
for the year ended 31 December 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Report of the Directors |
for the year ended 31 December 2023 |
The directors present their report with the financial statements of the company for the year ended 31 December 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 January 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: |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Century House (Shrewsbury) Management |
Company Limited |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Century House (Shrewsbury) Management Company Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Century House (Shrewsbury) Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 11 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Century House (Shrewsbury) Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Century House (Shrewsbury) Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Century House (Shrewsbury) Management Company Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Century House (Shrewsbury) Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Century House (Shrewsbury) Management Company Limited. You consider that Century House (Shrewsbury) Management Company Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Century House (Shrewsbury) Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
Belmont House |
Shrewsbury Business Park |
Shrewsbury |
Shropshire |
SY2 6LG |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Income Statement |
for the year ended 31 December 2023 |
2023 | 2022 |
£ | £ |
REVENUE |
Administrative expenses |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Statement of Financial Position |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Sinking fund: Internal decoration | 6 |
Sinking fund: External decoration | 6 |
Sinking fund: Lift | 6 |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Statement of Financial Position - continued |
31 December 2023 |
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 |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Statement of Changes in Equity |
for the year ended 31 December 2023 |
Sinking |
Called up | fund: |
share | Retained | Internal |
capital | earnings | decoration |
£ | £ | £ |
Balance at 1 January 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) |
Balance at 31 December 2022 |
Changes in equity |
Total comprehensive income | - | ( |
) |
Balance at 31 December 2023 |
Sinking |
fund: | Sinking |
External | fund: | Total |
decoration | Lift | equity |
£ | £ | £ |
Balance at 1 January 2022 |
Changes in equity |
Total comprehensive income |
Balance at 31 December 2022 |
Changes in equity |
Total comprehensive income |
Balance at 31 December 2023 |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Notes to the Financial Statements |
for the year ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Century House (Shrewsbury) Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents service charges to residents. |
Financial instruments |
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. |
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss. |
Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
Century House (Shrewsbury) Management |
Company Limited (Registered number: 06003656) |
Notes to the Financial Statements - continued |
for the year ended 31 December 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
6. | RESERVES |
Sinking | Sinking |
fund: | fund: | Sinking |
Retained | Internal | External | fund: |
earnings | decoration | decoration | Lift | Totals |
£ | £ | £ | £ | £ |
At 1 January 2023 | 34,364 |
Profit for the year |
Transfer for repairs | - | (1,794 | ) | - | - | (1,794 | ) |
Transfers in the year | 600 | 1,100 | 10,138 | 1,000 | 12,838 |
At 31 December 2023 | 45,408 |
The reserve funds have been established to accumulate funds in order to pay for cyclical and long term maintenance and repair costs which are expected to arise in the future. |
The reserves are accumulated via an annual contribution included within the service charges paid by the leaseholders each year. Funds are accumulated for specific named matters and for un-named general matters. Balances accumulated and held against named matters are not ring fenced for that specific purpose. |
Any shortfall in funds that might arise when works are carried out will be charged to the Profit and Loss in that year. |