REGISTERED NUMBER: |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
REGISTERED NUMBER: |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01870515) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
t/a Findlay Wetherfield Scott & Co., |
Chartered Accountants |
137, Station Road, |
Chingford, |
London |
E4 6AG |
BANKERS: |
9 Nelson Street |
Bradford |
West Yorkshire |
BD1 5AN |
MANAGING AGENTS: |
22 Courtland Avenue, |
North Chingford, |
London, |
E4 6DU |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01870515) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
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 |
Retained earnings |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01870515) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Chestnut Court Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
The company exists as the formal owner of freehold ground on which leasehold flats are erected, and to maintain the property's communal parts and fabric. The company is non-profit making, and derives its income from charges made to the occupying leaseholders. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
The company's only tangible fixed asset is the freehold land on which the flats are erected, and is stated at cost. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Owed by lessees for |
service charges levied |
Prepayments |
CHESTNUT COURT |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01870515) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Excess received from lessees |
for service charges levied | 2,440 | 753 |
Held by company |
in Trust for lessees | 767 | 2,546 |
Accrued expenses |
7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
Each director is also a shareholder and lessee of the property. Service and other charges were levied under the terms of the leases and the charges whilst a director and the balances due to or from each director as at the balance sheet date if a director at that date, are as shown below. |
2024 | 2023 |
£ | £ |
S.G. Routledge | Services and other charges | 1,321 | 2,856 |
Balance due to (from) the director | 30 | 30 |
D.I. Reese | Services and other charges | 2,642 | 2,468 |
Balance due to (from) the director | 89 | 1 |
Service charges and supplementary service charges shown above only relate to the period each individual was a director. None of these transactions are with the company directly but they are with the company acting as agent on behalf of the lessees. |
8. | RELATED PARTY DISCLOSURES |
There is no overall controlling party. Each lessee owns 1 ordinary issued share in the company. |