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Registration number: 06509866

Fitzwater Meadow Management Company Ltd

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 29 February 2024

 

Fitzwater Meadow Management Company Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Statement of Income and Retained Earnings

4

Balance Sheet

5

Notes to the Unaudited Financial Statements

6 to 7

Detailed Profit and Loss Account

8

 

Fitzwater Meadow Management Company Ltd

Company Information

Directors

Mr M Freeman

Mr N Wood

Ms A Johnson

Registered office

13 Scawen Road
London
SE8 5AG

Accountants

Batchelor Coop Ltd
Chartered Accountants
The New Barn
Mill Lane
Eastry
Kent
CT13 0JW

 

Fitzwater Meadow Management Company Ltd

Directors' Report for the Year Ended 29 February 2024

The directors present their report and the financial statements for the year ended 29 February 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr M Freeman

Mr N Wood

Ms A Johnson

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 26 October 2024 and signed on its behalf by:

.........................................
Mr M Freeman
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Fitzwater Meadow Management Company Ltd
for the Year Ended 29 February 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fitzwater Meadow Management Company Ltd for the year ended 29 February 2024 as set out on pages 4 to 7 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 at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fitzwater Meadow Management Company Ltd, as a body, in accordance with the terms of our engagement letter dated 3 July 2013. Our work has been undertaken solely to prepare for your approval the accounts of Fitzwater Meadow Management Company Ltd and state those matters that we have agreed to state to the Board of Directors of Fitzwater Meadow Management Company Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fitzwater Meadow Management Company Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fitzwater Meadow Management Company Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fitzwater Meadow Management Company Ltd. You consider that Fitzwater Meadow Management Company Ltd 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 accounts of Fitzwater Meadow Management Company Ltd. 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 accounts.

......................................

Batchelor Coop Ltd
Chartered Accountants
The New Barn
Mill Lane
Eastry
Kent
CT13 0JW

26 October 2024

 

Fitzwater Meadow Management Company Ltd

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 29 February 2024

Note

2024
£

2023
£

Revenue

 

2,540

2,400

Other expenses

 

(2,038)

(2,427)

Operating surplus/(deficit)

 

502

(27)

Other interest receivable and similar income

 

202

44

Surplus before tax

704

17

Surplus for the year

 

704

17

Retained earnings brought forward

 

7,969

7,952

Retained earnings carried forward

 

8,673

7,969

 

Fitzwater Meadow Management Company Ltd

(Registration number: 06509866)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

662

567

Cash at bank and in hand

 

13,534

12,865

 

14,196

13,432

Creditors: Amounts falling due within one year

6

(723)

(663)

Total assets less current liabilities

 

13,473

12,769

Provisions for liabilities

(4,800)

(4,800)

Net assets

 

8,673

7,969

Reserves

 

Retained earnings

8,673

7,969

Surplus

 

8,673

7,969

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 26 October 2024 and signed on its behalf by:
 

.........................................
Mr M Freeman
Director

.........................................
Mr N Wood
Director

.........................................
Ms A Johnson
Director

     
 

Fitzwater Meadow Management Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
13 Scawen Road
London
SE8 5AG
England

These financial statements were authorised for issue by the Board on 26 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Contributions from residents are recognised as they fall due, irrespective of the date of receipt. Administration fees payable by the purchaser of a property are due upon completion of the property purchase.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from residents at the financial year end.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Provisions

The company makes annual provisions to a dilapidations reserve to cover the estimated future cost of future large repair expenditure items.

 

Fitzwater Meadow Management Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Freehold of communal land

On 27 October 2010 the company acquired the freehold title to the "land at Fitzwalter's Meadow, Saddlers Hill, Goodnestone". This land was acquired at no cost to the company.

5

Debtors

Current

2024
£

2023
£

Trade debtors

531

440

Prepayments

131

127

 

662

567

6

Creditors

Note

2024
£

2023
£

Due within one year

 

Other creditors

 

723

663

 

Fitzwater Meadow Management Company Ltd

Detailed Profit and Loss Account for the Year Ended 29 February 2024

2024
£

2023
£

Revenue

Service charges due from residents

2,400

2,400

Administration fees charged to purchasers

140

-

2,540

2,400

Other expenses

Insurance

(573)

(553)

General maintenance

(680)

(240)

Printing, postage and stationery

(21)

-

Companies House filing fee

(13)

(13)

Accountancy fees

(690)

(600)

Legal and professional fees

-

(960)

Bank charges

(61)

(61)

(2,038)

(2,427)

Operating surplus/(deficit)

502

(27)

Other interest receivable and similar income

Bank interest receivable

202

44

Surplus before tax

704

17