REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01653582) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Chartered Accountants' Report | 3 |
Income Statement | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 6 |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
12 Melcombe Place |
London |
NW1 6JJ |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01653582) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 31 MARCH 2024 |
The directors present their report with the financial statements of the company for the year ended 31 March 2024. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2023 to the date of this report. |
QUALIFYING THIRD PARTY INDEMNITY PROVISIONS |
The company's Articles of Association provide, subject to the provisions of UK legislation, an indemnity for directors and officers of the company in respect of liabilities they may incur in defending certain proceedings against them. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
ON BEHALF OF THE BOARD: |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 15 Woodfield Avenue Streatham Management Company Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of 15 Woodfield Avenue Streatham Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 15 Woodfield Avenue Streatham Management Company Limited and state those matters that we have agreed to state to the Board of Directors of 15 Woodfield Avenue Streatham Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 15 Woodfield Avenue Streatham 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 15 Woodfield Avenue Streatham Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 15 Woodfield Avenue Streatham Management Company Limited. You consider that 15 Woodfield Avenue Streatham 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 financial statements of 15 Woodfield Avenue Streatham 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 financial statements. |
12 Melcombe Place |
London |
NW1 6JJ |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01653582) |
INCOME STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
SERVICE CHARGE CONTRIBUTIONS |
Service charge expenditure | ( |
) | ( |
) |
GROSS LOSS | ( |
) | ( |
) |
OPERATING LOSS | ( |
) | ( |
) |
Interest receivable and similar income |
PROFIT BEFORE TAXATION |
Tax on profit | 4 |
PROFIT FOR THE FINANCIAL YEAR |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01653582) |
BALANCE SHEET |
31 MARCH 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
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 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
15 WOODFIELD AVENUE STREATHAM |
MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 01653582) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
15 Woodfield Avenue Streatham Management Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Service charge contributions |
Service charge contributions comprise amounts recoverable from the tenants of 15 Woodfield Avenue, Streatham under the terms of their leases. |
Recognition of income |
Service charge contributions are recognised as income in the financial statements concurrently with the recognition of the service charge expenditure that is being funded. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
No director received any remuneration for their services (2023 - £Nil). |
4. | TAXATION |
Analysis of the tax charge |
No liability to UK corporation tax arose for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
5. | TANGIBLE FIXED ASSETS |
In 2006, a group of lessees acquired the freehold of 15 Woodfield Avenue, Streatham, with the freehold registered in the name of the company, as nominee. Lease extensions were granted to the participating lessees. |
Subsequently, other lessees have applied for lease extensions. Once all the lessees had acquired long leases the freehold reversion passed to the company in its own right. |
In the directors’ opinion the property does not qualify as an Investment Property as defined by the provisions of Section 16 of FRS102 as the property is held for administrative purposes and as no rentals are being earned. Therefore the property is held on the balance sheet at at £Nil, being the cost to the company of the freehold interest. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other creditors |