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COMPANY REGISTRATION NUMBER: 11332471
DISPENSARY WALK FLAT MANAGEMENT COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
DISPENSARY WALK FLAT MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
DISPENSARY WALK FLAT MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
CURRENT ASSETS
Cash at bank and in hand
2,088
2,097
CREDITORS: amounts falling due within one year
5
1,021
1,036
--------
--------
NET CURRENT ASSETS
1,067
1,061
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
1,067
1,061
--------
--------
NET ASSETS
1,067
1,061
--------
--------
DISPENSARY WALK FLAT MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
2024
2023
Note
£
£
£
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
1,065
1,059
--------
--------
SHAREHOLDERS FUNDS
1,067
1,061
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 January 2025 , and are signed on behalf of the board by:
Mr C M Jagger
Director
Company registration number: 11332471
DISPENSARY WALK FLAT MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Income
Income represents contributions received or receivable from dwelling holders towards the maintenance of common areas, stated net of discounts and of Value Added Tax.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Current and deferred tax
Service charge monies are held on trust in accordance with section 42, Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit and ground rents are taxable at the basic rate of income tax. The rate of tax applied during the year was 19%.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. CASH AT BANK
2024
2023
£
£
Cash at bank
2,088
2,097
--------
--------
Service charge monies are held in trust at Halifax Bank, Bank Street, Bradford in the bank account entitled "Mr Craig Jagger".
The directors were unable to open a company bank account during the COVID 19 pandemic due to restrictions placed on the opening of new corporate accounts by banks particularly for flat management companies. The bank account that has been opened is used exclusively for the purposes of the company and the holding in trust of service charge monies received.
5. CREDITORS: amounts falling due within one year
2024
2023
£
£
Other creditors
1,021
1,036
--------
--------
6. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the current year. The loan is repayable on demand and no interest is charged.