Registered number
02270000
Millbrook (Chigwell) Management Company Ltd
Filleted Accounts
31 December 2024
Millbrook (Chigwell) Management Company Ltd
Registered number: 02270000
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 28,858 32,425
Current assets
Debtors 4 - (1,018)
Cash at bank and in hand 12,793 45,251
12,793 44,233
Creditors: amounts falling due within one year 5 (22,287) (21,910)
Net current (liabilities)/assets (9,494) 22,323
Net assets 19,364 54,748
Capital and reserves
Called up share capital 70 70
Other reserves 6 11,445 42,022
Profit and loss account 7,849 12,656
Shareholders' funds 19,364 54,748
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr H Sattar
Director
Approved by the board on 6 March 2025
Millbrook (Chigwell) Management Company Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of service charges and is recognised by reference to period to which it relates.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property 2% on cost
Freehold improvements straight line over 30 years
Plant and machinery 15% reducing balance
Fixtures and fittings 25% on cost
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
Where it is due, a current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Where it arises, deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Other reserves
Other reserves is a contingency fund of monies put aside for large, unforseen or unexpected costs.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 January 2024 31,352 67,899 99,251
At 31 December 2024 31,352 67,899 99,251
Depreciation
At 1 January 2024 9,063 57,763 66,826
Charge for the year 817 2,750 3,567
At 31 December 2024 9,880 60,513 70,393
Net book value
At 31 December 2024 21,472 7,386 28,858
At 31 December 2023 22,289 10,136 32,425
4 Debtors 2024 2023
£ £
Trade debtors - (1,018)
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 22,287 21,910
6 Other reserves 2024 2023
£ £
At 1 January 2024 42,022 37,762
Transfer from retained earnings (30,577) 4,260
At 31 December 2024 11,445 42,022
Other reserves is the balance standing on the reserve account at 31 December.
7 Related party transactions
Mr H Sattar and Mr M Cohen are considered to be key management personnel being the two directors of the company.
8 Other information
Millbrook (Chigwell) Management Company Ltd is a private company limited by shares and incorporated in England. Its registered office is:
11 Millbrook
164 Manor Road
Chigwell
Essex
IG7 5PT
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