The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The company acts as a Residential Management Company and as such is deemed a disclosed agent. In accordance with the Landlord and Tenants Act, the company acts as trustee in relation to service charges. As a result, all service charge income, expenditure, assets and liabilities are excluded from the financial statements of the company.