Mica House Management Company Limited 02971688 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property management of the freehold property known as Mica House, Barnsbury Square, London, N1 1RN Digita Accounts Production Advanced 6.30.9574.0 true 02971688 2023-01-01 2023-12-31 02971688 2023-12-31 02971688 core:ShareCapital 2023-12-31 02971688 core:CurrentFinancialInstruments 2023-12-31 02971688 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02971688 bus:SmallEntities 2023-01-01 2023-12-31 02971688 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02971688 bus:FilletedAccounts 2023-01-01 2023-12-31 02971688 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02971688 bus:RegisteredOffice 2023-01-01 2023-12-31 02971688 bus:Director1 2023-01-01 2023-12-31 02971688 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02971688 bus:Agent1 2023-01-01 2023-12-31 02971688 countries:EnglandWales 2023-01-01 2023-12-31 02971688 2022-01-01 2022-12-31 02971688 2022-12-31 02971688 core:ShareCapital 2022-12-31 02971688 core:CurrentFinancialInstruments 2022-12-31 02971688 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02971688

Mica House Management Company Limited

Unaudited Financial Statements

(Companies House version)

for the Year Ended 31 December 2023

 

Mica House Management Company Limited

Contents

Accountants' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Mica House Management Company Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Mica House Management Company Limited for the year ended 31 December 2023 as set out on pages 2 to 5 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Mica House Management Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Mica House Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Mica House Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Mica House 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 Mica House Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Mica House Management Company Limited. You consider that Mica House 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 accounts of Mica House 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 accounts.

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

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

23 September 2024

 

Mica House Management Company Limited

(Registration number: 02971688)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

198,342

117,355

Creditors: Amounts falling due within one year

5

(40,849)

(8,612)

Total assets less current liabilities

 

157,493

108,743

Provisions for liabilities

(157,484)

(108,734)

Net assets

 

9

9

Capital and reserves

 

Called up share capital

9

9

Shareholders' funds

 

9

9

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

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 Profit and Loss Account.

Approved and authorised by the Board on 23 September 2024 and signed on its behalf by:
 

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

Mr S Nichols
Director

 

Mica House Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

These financial statements were authorised for issue by the Board on 23 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 financial statements are presented in Sterling (£) which is the functional currency of the company.

The company reflects all income and expenditure equally in the statutory accounts whether received as company transactions or incurred on trust on behalf of tenants.

Revenue recognition

The turnover shown in the income and expenditure account represents the recovery from the tenants of service charges, interest on delinquent service charge payments and other costs invoiced during the year on trust by the company.

Trade debtors

Trade debtors are amounts due from members for service charges.

 

Mica House Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade creditors

Trade creditors 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions, (also referred to as Sinking Fund or Reserve Fund), represent amounts set aside in accordance with Clause 17 of Schedule 3 of the leases and Clause 25 of the Company's Articles of Association, as a provision for future costs and should not be regarded as a sum required to meet future costs in full, but merely as a contribution to such costs. (See note 7)

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

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

4

Debtors

Current

2023
£

2022
£

Trade debtors

30,996

5,185

Prepayments

9,266

10,186

Other debtors

158,080

101,984

 

198,342

117,355

 

Mica House Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Trade creditors

 

522

447

Service charge surplus to be refunded to leaseholders

 

6,653

3,826

Accruals

 

4,736

4,339

Deferred income

 

28,938

-

 

40,849

8,612

6

Control

From June 2021 to April 2023 the company's transactions were managed by MLM Property Management, and from April 2023 managed by MIH Property Management. Ultimate control of the company is considered to be with the directors.

7

Sinking fund/Reserve fund provision

2023
£

2022
£

Balance as at 1 January

74,482

59,482

Additions during the year

15,000

15,000

Balance as at 31 December

89,482

74,482

Provisions represent amounts set aside in accordance with Clause 17 of Schedule 3 of the leases and Clause 25 of the Companys Articles of Association, as a provision for future costs and should not be regarded as a sum required to meet future costs in full, but merely as a contribution to such costs.