REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2025 |
for |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2025 |
for |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03150620) |
Contents of the Financial Statements |
for the year ended 31 January 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED |
Company Information |
for the year ended 31 January 2025 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Worton Park |
Cassington |
Witney |
Oxfordshire |
OX29 4SX |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03150620) |
Balance Sheet |
31 January 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
ASSETS |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
12,711 | 11,874 |
CAPITAL, RESERVES AND LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
Amounts falling due after more than one year |
7 |
8,055 | 7,218 |
The director acknowledges her 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 director and authorised for issue on |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03150620) |
Notes to the Financial Statements |
for the year ended 31 January 2025 |
1. | STATUTORY INFORMATION |
Studio Way (Borehamwood) Management Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents management charges receivable and is recognised when due. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2024 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments of £5,285 (2024 £4,968) represents buildings, directors and officers insurance paid in advance at 31st January 2025. |
The buildings insurance premium paid for the year 1 November 2024 to 31 October 2025 was £6,867 with £5,150 (2024 £4,875) paid in advance for the nine months to 31st October 2025. |
The directors and officers insurance paid for the year 24 April 2024 to 23 April 2025 was £411 with £135 (2024 £92) paid in advance for the three months to 23 April 2025. |
5. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2024 |
Profit for the year |
At 31 January 2025 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
STUDIO WAY (BOREHAMWOOD) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03150620) |
Notes to the Financial Statements - continued |
for the year ended 31 January 2025 |
8. | ADMINISTRATION EXPENSES |
The Company wishes to remind Members that the Company Secretary will be reimbursed for Administration Costs including, but not limited to, administrations costs involved in the sale and purchase transactions each time a flat changes hands or mortgage facility; as well as associated costs relating to any insurance claims. |
9. | PROPERTY MAINTENANCE |
It must be made clear to all shareholders that the Directors, of Studio Way (Borehamwood) Management Company Limited, have given advice, in the best interests of all shareholders, pointing out it is essential both properties are continually well maintained, and as the buildings age additional works will be required to ensure the properties continue to be kept in good order. |
The Directors cannot be held responsible, for the lack of maintenance on the properties, when shareholder/owner refuses to pay the necessary costs, in order to facilitate essential maintenance, and any additional costs incurred as a result of Owners refusing to financially support maintenance programmes. |
All owners have a responsibility to maintain their own properties, namely areas which are not part of the "common property", which includes, but is not limited to windows and window frames. For ground floor properties this includes doors, door frames and windows which give access to the outside of the property. |
The directors have a responsibility, to the Company, to pursue and where necessary, and will register any arrears in Service Charges with the appropriate bodies through the Courts. It is a requirement that all service charges are paid on the first of the month by Standing Order. |
The Monthly Maintenance fee will be reviewed annually, however, should unforeseen works need to be undertaken, then the Directors reserve the right to issue the appropriate levy to cover such costs and retain sufficient funds in Studio Way [Borehamwood] Management Company Ltd to cover general works. |