UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25TH DECEMBER 2024 |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 25TH DECEMBER 2024 |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 01631690) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 25TH DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 25TH DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Registered Auditors |
2 Villiers Court |
40 Upper Mulgrave Road |
Cheam |
Surrey |
SM2 7AJ |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 01631690) |
BALANCE SHEET |
25TH DECEMBER 2024 |
25.12.24 | 25.12.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Maintenance Reserve | 8 |
Retained earnings | 8 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 01631690) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 25TH DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Upper Mulgrave Road, Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover comprises the amounts received in respect of maintenance charges for the year and also administration charges levied in respect of solicitors costs, provision of replacement permits etc. |
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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
25.12.24 | 25.12.23 |
£ | £ |
Service charges in arrears |
Amounts owed by associates |
Prepayments |
5. | CASH AT BANK |
UPPER MULGRAVE ROAD, MANAGEMENT COMPANY |
LIMITED (REGISTERED NUMBER: 01631690) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 25TH DECEMBER 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
25.12.24 | 25.12.23 |
£ | £ |
Service charges in advance |
Tax |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 25.12.24 | 25.12.23 |
value: | £ | £ |
ordinary | £10 | 800 | 800 |
8. | RESERVES |
Retained | Maintenance |
earnings | Reserve | Totals |
£ | £ | £ |
At 26th December 2023 | 31,822 |
Profit for the year |
At 25th December 2024 | 33,003 |
The maintenance reserve fund has been established to provide funds to meet the costs of major repairs and scheduled works to the property. Any shortfall in these funds resulting from expenditure incurred will be charged to the Income and Expenditure account in that year. |
9. | CASH AT BANK AND IN HAND |
Monies shown under the heading "Cash at Bank and In Hand" represent the balance of service charge monies held on trust of lessees in accordance with s42 Landlord and Tenant Act 1987. The accounts represent a current and deposit account held with Metro bank. |