REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
FOR |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
FOR |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 07294397) |
BALANCE SHEET |
28 SEPTEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 07294397) |
BALANCE SHEET - continued |
28 SEPTEMBER 2024 |
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 |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 07294397) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
1. | STATUTORY INFORMATION |
Library Mews (Poole) Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents ground rents and parking space rents demanded for the period. |
Tangible fixed assets |
Fixed assets are initially recorded at cost. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 07294397) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 29 September 2023 |
Write down | ( |
) |
At 28 September 2024 |
NET BOOK VALUE |
At 28 September 2024 |
At 28 September 2023 |
The freehold property has been written down to a nil value in respect of the 13 flats (out of 18) that have either participated in the freehold purchase and/or been granted new long leases. The value in respect of those flats is in the long leases rather than the original cost to the company of acquiring the freehold. |
During the year one of the 4 remaining non participator extended their lease and the freehold value carried forward is equivalent to the remaining 3 non participators |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Rent arrears |
Sundry debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Corporation tax |
Sundry creditors and accruals |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 07294397) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 SEPTEMBER 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Members loans for freehold |
purchase |
The 11 original members provided funds for the company to acquire the freehold reversion of the property and for the right to extend their leases. Those members also loaned funds to the company in respect of the 7 non participators share. The loans are interest free and are repayable on demand. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 12 | 12 |
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
LIBRARY MEWS (POOLE) MANAGEMENT |
LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Library Mews (Poole) Management Limited for the year ended 28 September 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Library Mews (Poole) Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Library Mews (Poole) Management Limited and state those matters that we have agreed to state to the Board of Directors of Library Mews (Poole) Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Library Mews (Poole) Management Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Library Mews (Poole) Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Library Mews (Poole) Management Limited. You consider that Library Mews (Poole) Management Limited 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 financial statements of Library Mews (Poole) Management Limited. 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 financial statements. |
Chartered Accountants |
3 Durrant Road |
Bournemouth |
Dorset |
BH2 6NE |