REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 January 2024 |
for |
RAVENWORKS MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 January 2024 |
for |
RAVENWORKS MANAGEMENT COMPANY LIMITED |
RAVENWORKS MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02180413) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
RAVENWORKS MANAGEMENT COMPANY LIMITED |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
RAVENWORKS MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02180413) |
Balance Sheet |
31 January 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 | 7 |
Property maintenance reserve | 8 |
Property reserve | 8 |
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 |
RAVENWORKS MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02180413) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Ravenworks Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income and expenditure |
Income represents contributions payable by members, which are designed to meet the company's expenditure for the year concerned together with an annual contribution to accruing major repairs. Expenditure on major repairs covered by past contributions held in the property maintenance reserve is not therefore included in the income and expenditure account. |
Expenditure is incurred as principal and not as an agent of members. |
Freehold property |
Freehold property is stated at cost. |
Property maintenance |
Part of members' annual contributions is set aside on a systematic basis in a property maintenance reserve to cover accrued major repairs, maintenance and redecoration. Expenditure on major repairs is charged to the property maintenance reserve when incurred. |
Incidental repairs and maintenance are charged to the income and expenditure account in the period in which the expenditure is incurred. |
Bank account |
The company is an exempt landlord as defined by Section 58 of the Landlord and Tenant Act 1987 and contributions received from members are not held in a statutory trust bank account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
This represents the freehold of the former Ravenworks site stated at cost. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Contributions receivable from members |
Accrued members' contributions |
Prepayments |
Contributions receivable from members represent amounts to be received in the future in respect of expenditure on the lift in the property. |
RAVENWORKS MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 02180413) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Members' loans | 30,256 | 30,256 |
Corporation tax |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
"A" shares | £1 | 29 | 29 |
"B" shares | £1 | 104 | 104 |
133 | 133 |
8. | RESERVES |
Property |
Retained | maintenance | Property |
earnings | reserve | reserve | Totals |
£ | £ | £ | £ |
At 1 February 2023 | 25,034 |
Profit for the year |
Transfer to property |
maintenance reserve | (6,000 | ) | 6,000 | - | - |
At 31 January 2024 | 31,034 |
The property reserve represents past contributions by members set aside to purchase the freehold of the property. |