REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED |
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 |
FOR |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2023 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Notes to the Financial Statements | 6 |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED |
COMPANY INFORMATION |
for the Year Ended 31st December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Ossington Chambers |
6-8 Castle Gate |
Newark |
Nottinghamshire |
NG24 1AX |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
REPORT OF THE DIRECTORS |
for the Year Ended 31st December 2023 |
The directors present their report with the financial statements of the company for the year ended 31st December 2023. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st January 2023 to the date of this report. |
Other changes in directors holding office are as follows: |
The company is limited by guarantee and has no share capital. |
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: |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
INCOME STATEMENT |
for the Year Ended 31st December 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ |
INCOME |
Service charge expenditure |
OPERATING DEFICIT | ( |
) | ( |
) |
Interest receivable and similar income |
DEFICIT BEFORE TAXATION | ( |
) | ( |
) |
Tax on deficit | 4 |
DEFICIT FOR THE FINANCIAL YEAR | ( |
) | ( |
) |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
BALANCE SHEET |
31st December 2023 |
31/12/23 | 31/12/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
RESERVES |
Income and expenditure account | 9 |
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 surplus or deficit 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. |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
BALANCE SHEET - continued |
31st December 2023 |
The financial statements were approved by the Board of Directors and authorised for issue on |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31st December 2023 |
1. | STATUTORY INFORMATION |
Norton Hall (Norton Stockton) Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
During the year the company received monies from lessees, as agents, in respect of service charges and related income, which are held on trust and do not constitute turnover. |
Tangible fixed assets |
No depreciation is provided on the cost of the freehold reversionary interest acquired in 2010 as reflected in note 5 to the accounts. In the opinion of the directors, no depreciation is required because, due to the nature of the asset, its value should be preserved by virtue of its source of ground rent income. |
Presentation of the income statement |
The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company accounts in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the management of the property. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
31/12/23 | 31/12/22 |
£ | £ |
Directors' remuneration |
4. | TAXATION |
Analysis of the tax charge |
The tax charge on the deficit for the year was as follows: |
31/12/23 | 31/12/22 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on deficit |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Trade debtors |
Other debtors | 1,383 | 84 |
Bank Balance held by Managing Agents |
Service Charge Account Deficit | 40,758 | 28,328 |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Trade creditors |
Tax |
Service Charge Account | 27,083 | 35,473 |
Reserve Fund | 60,945 | 63,827 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31/12/23 | 31/12/22 |
£ | £ |
Other loans more 5yrs non-inst | 47,300 | 47,300 |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Other loans more 5yrs non-inst |
NORTON HALL (NORTON STOCKTON) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 04245785) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31st December 2023 |
9. | RESERVES |
Income |
and |
expenditure |
account |
£ |
At 1st January 2023 |
Deficit for the year | ( |
) |
Transfer (to)/from Service Charge Account |
15,791 |
At 31st December 2023 |
10. | RELATED PARTY DISCLOSURES |
The company is a mutual trading company and as such received income in the form of service charge from residents, some of whom are directors of the company. Service charges payable by the directors are on the same basis as for all of the other residents. |
11. | LIMIT OF MEMBERS LIABILITY |
The liability of the members of the company is limited by guarantee to £1 each. |