REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
Princes Park Mansions Management Co. Ltd |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 May 2024 |
for |
Princes Park Mansions Management Co. Ltd |
Princes Park Mansions Management Co. Ltd (Registered number: 01768248) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Princes Park Mansions Management Co. Ltd |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Oriel House |
2-8 Oriel Road |
Bootle |
Liverpool |
Merseyside |
L20 7EP |
Princes Park Mansions Management Co. Ltd (Registered number: 01768248) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Maintenance Sinking Fund |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Princes Park Mansions Management Co. Ltd (Registered number: 01768248) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
Princes Park Mansions Management Co. Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
The tangible fixed assets includes Freehold property which has been valued at its historic cost of £1. |
Turnover |
Turnover represents the amounts receivable from Flat Leaseholders for service and administration performed during the year. |
Maintenance sinking fund |
Regular amounts are set aside each year out of the maintenance charges received by the company for future repair costs. The fund is utilised to cover the costs of abnormal repairs or long term expenditure. The allocation of such items is decided by the directors. The accounts show the amount transferred to the fund in the year and the amount transferred from the fund for the purposes described. |
Members contingency fund |
Amounts are set aside in a contingency fund which can only be applied for purposes specifically agreed upon by the members in general meeting. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Princes Park Mansions Management Co. Ltd (Registered number: 01768248) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | Plant and | and |
property | property | machinery | fittings | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 May 2024 |
DEPRECIATION |
At 1 June 2023 |
Charge for year |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted and issued: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
Ordinary share B | £1 | 44 | 44 |
Ordinary share A | £1 | 1 | 1 |
45 | 45 |
Princes Park Mansions Management Co. Ltd (Registered number: 01768248) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
8. | RELATED PARTY TRANSACTIONS |
The company owns the freehold of Princes Park Mansions, Croxteth Road, Liverpool, L8 3SA and has granted 999 year leases to the flat leaseholders who each hold 1 "B" Ordinary Share in the company and consequently control the company. |
The company is responsible for the maintenance of the flats leased by the shareholders, some of whom are also directors of the company.The total charges made by the company and the costs incurred are reflected in the profit and loss account. Any transactions with the directors as flat leaseholders have been conducted on the same basis as with the other shareholders. |