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Registered number: 05280080










COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
COMPANY INFORMATION


Directors
W J Jones 
S E Belham 




Company secretary
LRPM Limited



Registered number
05280080



Registered office
8 Hamilton Road

Cromer

Norfolk

NR27 9HL




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
 
(A Company Limited by Guarantee)
 

CONTENTS



Page
Accountants' Report
 
 
1
Balance Sheet
 
 
2
Notes to the Financial Statements
 
 
3 - 5


 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
 
(A Company Limited by Guarantee)
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
FOR THE YEAR ENDED 30 JUNE 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited for the year ended 30 June 2024 which comprise  the 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited, as a body, in accordance with the terms of our engagement letter dated December 2024Our work has been undertaken solely to prepare for your approval the financial statements of Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colney Reach (Bowthorpe 2) Flats No.2 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 Colney Reach (Bowthorpe 2) Flats No.2 Management Company 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 loss of Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited. You consider that Colney Reach (Bowthorpe 2) Flats No.2 Management Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Colney Reach (Bowthorpe 2) Flats No.2 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 financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
17 March 2025
Page 1

 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 05280080

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
12,551
3,996

  
12,551
3,996

Creditors: amounts falling due within one year
 5 
(13,395)
(4,762)

Net current liabilities
  
 
 
(844)
 
 
(766)

Total assets less current liabilities
  
(844)
(766)

  

Net liabilities
  
(844)
(766)


Capital and reserves
  

Profit and loss account
  
(844)
(766)

  
(844)
(766)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 March 2025.




W J Jones
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

The Company is a private company limited by guarantee with no share capital and is registered in England and Wales. The Company's registered office is 8 Hamilton Road, Cromer, Norfolk, NR27 9HL.
The Company's principal activities is that of residents property management.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Debtors

2024
2023
£
£


Trade debtors
11,441
3,066

Prepayments and accrued income
1,110
930

12,551
3,996



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
238

Other creditors
12,075
3,240

Accruals and deferred income
1,320
1,284

13,395
4,762


Page 4

 
COLNEY REACH (BOWTHORPE 2) FLATS NO.2 MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


6.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £25 towards the assets of the company in the event of liquidation.

 
Page 5