REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 02808434) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Lloyds Bank Chambers |
Hustlergate |
Bradford |
BD1 1UQ |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 02808434) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Reserve fund | 7 |
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 |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 02808434) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Cremorne Mansions Residents Association Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Income |
Income comprises service charges and other fees receivable from leaseholders for the year to cover current and future expenditure of the company. Income designated to cover specific future expenditure is deferred and recognised when such expenditure is incurred. Income held to meet other future expenditure is transferred to a reserve fund. |
Fixed assets |
Freehold property is stated at cost. |
Repairs, maintenance and redecoration |
Repairs, maintenance and redecoration costs are charged in the income statement in the period in which the expenses are incurred. |
Tenants' trust |
The company and the managing agent operate bank accounts on behalf of leaseholders under a statutory trust in accordance with Section 42 of the Landlord and Tenant Act 1987 and accordingly the monies held in these accounts are held by or for the company as trustee. The balance on the accounts and amounts due by and to leaseholders at the balance sheet date are together shown in the accounts as "Amount owed by tenants' trust". |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Freehold of Cremorne Mansions, London, SW10. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amount owed by tenants' trust | 23,277 | 17,247 |
Accrued leaseholders' |
contributions |
Prepaid expenses |
CREMORNE MANSIONS RESIDENTS ASSOCIATION |
LIMITED (REGISTERED NUMBER: 02808434) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Amount owed by tenants' trust |
This represents amounts payable from the statutory trust bank accounts in respect of service charge expenditure incurred but unpaid at the balance sheet date and amounts received and due by and to leaseholders on account of service charge expenditure to be made in the future. The balance comprises: |
2024 | 2023 |
£ | £ |
Statutory trust bank accounts | 18,552 | 8,936 |
Amounts owed by leaseholders | 12,413 | 12,490 |
Payments by leaseholders in advance | (7,688 | ) | (4,179 | ) |
23,277 | 17,247 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Corporation tax |
Accrued expenses |
7. | RESERVES |
Retained | Reserve |
income/(deficit) | fund | Totals |
£ | £ | £ |
At 1 April 2023 | 20,172 |
Profit for the year |
Transfer to reserve fund | (5,887 | ) | 5,887 | - |
At 31 March 2024 | 26,059 |
The reserve fund is held to meet future property expenditure. |