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Registration number: 5266343

The Sittingbourne Road, Maidstone Management Company Limited

(A company limited by guarantee)

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

The Sittingbourne Road, Maidstone Management Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

Accountants' Report

6

 

The Sittingbourne Road, Maidstone Management Company Limited

Company Information

Directors

Miss Penelope Jane Bull

Andrew Ryder McGill

Company secretary

DMG Property Management Limited

Registered office

Suite 7 Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ

Bankers

NatWest Maidstone
3 High Street
Maidstone
Kent
ME14 1HJ

Accountants

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

 

The Sittingbourne Road, Maidstone Management Company Limited

(Registration number: 5266343)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

60,901

56,184

Creditors: Amounts falling due within one year

5

(25,877)

(16,252)

Net assets

 

35,024

39,932

Reserves

 

Retained earnings

35,024

39,932

Surplus

 

35,024

39,932

For the financial year ending 31 October 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 February 2025 and signed on its behalf by:
 

.........................................
Andrew Ryder McGill
Director

 

The Sittingbourne Road, Maidstone Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, 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:
Suite 7 Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ
England

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

The Sittingbourne Road, Maidstone Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Service charges in arrears

Service charges in arrears are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Service charges in arrears are recognised at the transaction price, less provision for impairment. A provision for the impairment of service charges in arrears is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Service charges paid in advance

Service charges paid in advance are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Service charges paid in advance are recognised at the transaction price.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

The Sittingbourne Road, Maidstone Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

4

Debtors

2024
£

2023
£

Service charges in arrears

13,868

17,618

Prepayments

2,516

-

Other debtors

44,517

38,566

60,901

56,184

Other debtors includes a sum of £44,517 (2023 - £38,566) held in the name of the company in a client account of the appointed agent for the leaseholders.

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Service charges paid in advance

13,201

15,250

Accruals and deferred income

7,663

-

Other creditors

5,013

1,002

25,877

16,252

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Sittingbourne Road, Maidstone Management Company Limited
for the Year Ended 31 October 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Sittingbourne Road, Maidstone Management Company Limited for the year ended 31 October 2024 as set out on pages 2 to 5 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 The Sittingbourne Road, Maidstone Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 30 November 2018. Our work has been undertaken solely to prepare for your approval the accounts of The Sittingbourne Road, Maidstone Management Company Limited and state those matters that we have agreed to state to the Board of Directors of The Sittingbourne Road, Maidstone Management Company Limited, 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 The Sittingbourne Road, Maidstone Management Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Sittingbourne Road, Maidstone Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of The Sittingbourne Road, Maidstone Management Company Limited. You consider that The Sittingbourne Road, Maidstone Management Company 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 accounts of The Sittingbourne Road, Maidstone Management Company 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 accounts.

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

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

11 February 2025