Barnes Amenity Area No 2 Management Company Limited 03372177 false 2022-12-25 2023-12-24 2023-12-24 The principal activity of the company is the management of the external communal areas known as Barnes Amenity Area 2 at 44-50 Trinity Church Road, SW13 Digita Accounts Production Advanced 6.30.9574.0 true true 03372177 2022-12-25 2023-12-24 03372177 2023-12-24 03372177 core:RetainedEarningsAccumulatedLosses 2023-12-24 03372177 core:CurrentFinancialInstruments 2023-12-24 03372177 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-24 03372177 core:LandBuildings 2023-12-24 03372177 bus:SmallEntities 2022-12-25 2023-12-24 03372177 bus:Audited 2022-12-25 2023-12-24 03372177 bus:FullAccounts 2022-12-25 2023-12-24 03372177 bus:SmallCompaniesRegimeForAccounts 2022-12-25 2023-12-24 03372177 bus:RegisteredOffice 2022-12-25 2023-12-24 03372177 bus:CompanySecretary1 2022-12-25 2023-12-24 03372177 bus:Director2 2022-12-25 2023-12-24 03372177 bus:Director3 2022-12-25 2023-12-24 03372177 bus:Director5 2022-12-25 2023-12-24 03372177 bus:Director6 2022-12-25 2023-12-24 03372177 bus:CompanyLimitedByGuarantee 2022-12-25 2023-12-24 03372177 core:UKTax 2022-12-25 2023-12-24 03372177 countries:EnglandWales 2022-12-25 2023-12-24 03372177 core:LandBuildings 2022-12-24 03372177 2021-12-25 2022-12-24 03372177 2022-12-24 03372177 core:RetainedEarningsAccumulatedLosses 2022-12-24 03372177 core:CurrentFinancialInstruments 2022-12-24 03372177 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-24 03372177 core:LandBuildings 2022-12-24 03372177 core:UKTax 2021-12-25 2022-12-24 iso4217:GBP xbrli:pure

Registration number: 03372177

Barnes Amenity Area No 2 Management Company Limited (A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 24 December 2023

 

Barnes Amenity Area No 2 Management Company Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 8

 

Barnes Amenity Area No 2 Management Company Limited

Company Information

Directors

P C Challis

T H Elliott

S K Hardy

H C Hunot-George

Company secretary

Willmotts (Ealing) Limited

Registered office

Willmott House
12 Blacks Road
Hammersmith
London
W6 9EU

Independent Auditor

Shaw Gibbs (Audit) Limited
Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

Barnes Amenity Area No 2 Management Company Limited

(Registration number: 03372177)
Statement of Financial Position as at 24 December 2023

Note

2023
 £

2022
 £

Non-current assets

 

Property, plant and equipment

5

1

1

Current assets

 

Receivables

6

4,897

4,080

Cash at bank

7

70,208

68,225

 

75,105

72,305

Payables: Amounts falling due within one year

8

(14,893)

(20,513)

Net current assets

 

60,212

51,792

Net assets

 

60,213

51,793

Equity

 

General reserve

9

60,213

51,793

Total equity

 

60,213

51,793

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 Barnes Amenity Area No 2 Management Company Limited were approved and authorised for issue by the Board on 25 September 2024 and signed on its behalf by:
 

.........................................

P C Challis
Director

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023

1

General information

Barnes Amenity Area No 2 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.

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.

Judgements

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)

2

Accounting policies (continued)

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 the property at Barnes Amenity Area 2, Trinity Church Road, Barnes, London, SW13. In consequence, service charge income and service charge 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

Property, plant and equipment comprises the freehold land ascribed to Barnes Amenity Area 2, Trinity Church Road, Barnes, London, SW13 which is stated at a nominal value of £1. No depreciation is provided on this.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank 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. Accounts payable 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

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)

4

Taxation

2023
£

2022
£

Income tax on interest received

133

-

The company acts as trustee in respect of funds held to manage Barnes Amenity Area 2, 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.

5

Property, plant and equipment

Freehold land
£

Cost

At 25 December 2022

1

At 24 December 2023

1

Carrying amount

At 24 December 2023

1

At 24 December 2022

1

6

Receivables

2023
£

2022
£

Service charge arrears

2,090

1,327

General reserve arrears

361

174

Other receivables

1,255

2,074

Prepayments and accrued income

1,191

505

4,897

4,080

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)

7

Cash and cash equivalents

2023
 £

2022
 £

Cash at bank - client account

25,677

24,647

Cash at bank - NatWest deposit account

44,531

43,578

70,208

68,225

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 Barnes Amenity Area No 2 Management Company Limited.

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)

8

Payables

2023
£

2022
£

Due within one year

Service charge expense creditors

-

76

Income tax liability

133

-

Service charge and reserve fund receipts in advance

8,722

10,395

Other creditors

3,358

2,882

Accruals and deferred income

2,680

7,160

14,893

20,513

9

Reserves

General reserve

£

£

At 25 December 2022

51,793

Service charge surplus

600

Reserve fund annual contribution

7,000

Reserve fund expenditure

-

Gross interest receivable

953

Tax on interest receivable

(133)

Total deficit for the year

8,420

At 24 December 2023

60,213


Reserves

The general reserve represents cumulative surpluses or deficits and reserve fund contributions net of reserve fund expenditure.

10

Related party transactions

There were no other related party transactions to disclose.

 

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2023 (continued)

11

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 25 September 2024 was Ransford Agyei-Boamah, who signed for and on behalf of Shaw Gibbs (Audit) Limited.