Company registration number 04195737 (England and Wales)
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
CONTENTS
Page
Statement of financial position
1
Statement of changes in equity
2
Notes to the financial statements
3 - 5
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
4
11,235
7,050
Cash at bank and in hand
16,340
81,756
27,575
88,806
Creditors: amounts falling due within one year
5
(12,855)
(8,014)
Net current assets
14,720
80,792
Capital and reserves
Called up share capital
36
36
Profit and loss reserves
14,684
80,756
Total equity
14,720
80,792
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 16 June 2025 and are signed on its behalf by:
C R Barrow
Director
Company Registration No. 04195737
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
£
£
£
Balance at 1 October 2022
36
84,583
84,619
Period ended 30 September 2023:
Profit and total comprehensive income for the period
-
10,000
10,000
Expenditure from reserves
-
-
Lift maintenance
-
(11,127)
(11,127)
Legal and professional fees
-
(2,700)
(2,700)
Balance at 30 September 2023
36
80,756
80,792
Period ended 30 September 2024:
Profit and total comprehensive income for the period
-
10,000
10,000
Expenditure from reserves
-
-
Lift maintenance
-
(28,353)
(28,353)
Decorating
-
(47,719)
(47,719)
Balance at 30 September 2024
36
14,684
14,720
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information
Model Lodging House (Management) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Church Street, Eccles, Manchester, M30 ODF. The company registration number is 04195737.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charge balances due
1,475
763
Shortfall levy
6,451
2,877
Prepayments and accrued income
3,309
3,410
11,235
7,050
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,898
421
Service charges in advance
7,158
6,091
Other creditors
1,029
782
Accruals and deferred income
770
720
12,855
8,014
6
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
MODEL LODGING HOUSE (MANAGEMENT) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
7
Managing agents annual declaration
Management fees
During the year Manchester Residential Management, as appointed agent to manage the common areas of the development, received a fixed fee of £6,128.
Other legal and professional fees
During the year Manchester Residential Management, appointed to act as company secretary for the company, received fixed fees of £324.