Company Registration No. 13466677 (England and Wales)
PRS70 MANAGEMENT COMPANY LIMITED
Unaudited accounts
for the year ended 30 June 2024
PRS70 MANAGEMENT COMPANY LIMITED
Unaudited accounts
Contents
PRS70 MANAGEMENT COMPANY LIMITED
Company Information
for the year ended 30 June 2024
Directors
Professor Michael John McNamee
Carol Patricia Duff
Cheryl McNamee-Brittain
Stuart Philip Duff
Company Number
13466677 (England and Wales)
Registered Office
25 TAIR ONEN
COWBRIDGE
CF71 7UA
WALES
Accountants
Edmil Accountants UK Ltd
146 Broadway
Didcot
Oxfordshire
OX11 8SH
PRS70 MANAGEMENT COMPANY LIMITED
Statement of financial position
as at 30 June 2024
Cash at bank and in hand
419
965
Creditors: amounts falling due within one year
(4,934)
(1,810)
Net current liabilities
(4,021)
(351)
Net liabilities
(4,021)
(351)
Profit and loss account
(4,021)
(351)
Members' funds
(4,021)
(351)
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by
Professor Michael John McNamee
Director
Company Registration No. 13466677
PRS70 MANAGEMENT COMPANY LIMITED
Notes to the Accounts
for the year ended 30 June 2024
PRS70 MANAGEMENT COMPANY LIMITED is a private company, limited by guarantee, registered in England and Wales, registration number 13466677. The registered office is 25 TAIR ONEN, COWBRIDGE, CF71 7UA, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Loans from directors
3,674
262
Included in Creditors is an Accrual of £1,260 for Accountancy fees to be paid post Balance Sheet.
6
Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Included in Debtors is an amount of £494 due to tenants for Deposits received.
PRS70 MANAGEMENT COMPANY LIMITED
Notes to the Accounts
for the year ended 30 June 2024
8
Transactions with related parties
At year end, the following amount were paid to Guarantors in the form of Management fees:
Cheryl McNamee-Brittain -£5,925 FY:2023- £ 9,550
Michael McNamee -£5,925 FY:2023- £ 9,550
Carol Patricia Duff -£11,850 FY:2023-£19,100
Stuart Philip Duff -£11,850 FY:2023-£19,100
At year end, the company owed the the following amount to the Guarantors in the form of Guarantors loan:
Cheryl McNamee-Brittain -£602 FY:2023- £ 0.00
Michael McNamee -£602 FY:2023- £ 0.00
Carol Patricia Duff -£1,264 FY:2023-£0.00
Stuart Philip Duff -£1,206 FY:2023-£0.00
9
Average number of employees
During the year the average number of employees was 0 (2023: 0).