REGISTERED NUMBER: |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
REGISTERED NUMBER: |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 12259004) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 5 |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 12259004) |
BALANCE SHEET |
31 DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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 surplus or deficit 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. |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 12259004) |
BALANCE SHEET - continued |
31 DECEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 12259004) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Homesteads (Hunstanton) Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents invoiced and accrued service charges and other reimbursed expenses. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
The Investment Property consists of the freehold known as The Homestead which contains 7 flats each of which have been granted a 999 year lease of which there is still 986 years to run at the balance sheet date. |
The directors consider the market value of the Investment Property being the freehold reversionary interest to be of negligible value and hence consider the fair value to be equivalent to the original cost of £30 as at 31 December 2021. |
HOMESTEADS (HUNSTANTON) MANAGEMENT |
LIMITED (REGISTERED NUMBER: 12259004) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments in advance |
Accruals |
6. | GENERAL INFORMATION |
Residential Management Company Status |
The service charges received by the company are solely derived from the tenants who are also members of the company. |
Under Section 42 Landlord and Tenant Act 1987 funds received from tenants as variable service charges are held under a statutory trust, and, accordingly, these funds, being held for the benefit of the tenants, are held by the company in the company's bank account. |
In the opinion of the directors, the company's activities are fully mutual, and for this reason, it is considered that there is no requirement for a separate bank account, outside the company, to be set up in which to hold surplus funds. |
7. | GUARANTORS |
The company is limited by guarantee. The liability of each member as per the Memorandum and Articles of Association is limited to £1 . |