Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2024

1	General information

Barnes Amenity Area No 2 Management Company Limited (the 'company') is a company limited by guarantee, registered in England and Wales under the Companies Act, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2	Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Departures from Companies Act requirements

The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment adopted.

Judgements

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2024 (continued)

2	Accounting policies (continued)

Revenue recognition

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.

Service charge income represents variable service charges receivable from the members for the year. Reserve fund income represents contributions receivable from the members for the year.

Taxation

The company acts as a trustee in respect of funds held to manage the property at Barnes Amenity Area 2, Trinity Church Road, Barnes, London, SW13. In consequence, service charge income and service charge expenditure items are neither taxable nor allowable for corporation tax purposes. Income tax is provided on investment income at the current rate of tax when the income tax liability is greater than £100.00.

Property, plant and equipment

Property, plant and equipment comprises the freehold land ascribed to Barnes Amenity Area 2, Trinity Church Road, Barnes, London, SW13 which is stated at a nominal value of £1. No depreciation is provided on this.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and are subject to an insignificant risk of change in value.

Receivables

Service charge and reserve fund arrears are amounts due at the financial year end from the members.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2024 (continued)

4

Taxation

	2024 £	2023 £
Income tax on interest received	287	133

The company acts as trustee in respect of funds held to manage Barnes Amenity Area 2, Trinity Church Road, Barnes, London, SW13. Investment income is subject to income tax at the rate of tax of 20% (2023/24 - 20%). No liability to UK corporation tax arose on activities for the year ended 24 December 2024 nor for the year ended 24 December 2023.

5	Property, plant and equipment

	Freehold land £
Cost
At 25 December 2023	1
At 24 December 2024	1
Carrying amount
At 24 December 2024	1
At 24 December 2023	1

6	Receivables

	2024 £	2023 £
Service charge arrears	613	2,090
General reserve arrears	90	361
Other receivables	958	1,255
Prepayments and accrued income	1,286	1,191
	2,947	4,897

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2024 (continued)

7	Cash and cash equivalents

	2024 £	2023 £
Cash at bank - client account	25,786	25,677
Cash at bank - NatWest deposit account	45,964	44,531
	71,750	70,208

Funds are held in trust at National Westminster Bank Plc in a designated client account maintained by Willmotts (Ealing) Limited, the managing agents, and in a deposit account under the title Willmotts
(Ealing) Limited Clients Account Re Barnes Amenity Area No 2 Management Company Limited.

8

Payables

	Note	2024 £	2023 £
Due within one year
Supplier creditors		2,990	-
Service charge and reserve fund receipts in advance		2,384	8,722
Other creditors		4,236	3,358
Income tax liability		420	133
Accruals and deferred income		2,199	2,680
		12,229	14,893

9

Reserves

Reserves

The general reserve represents cumulative surpluses or deficits and reserve fund contributions net of reserve fund expenditure.

10	Related party transactions

There were no other related party transactions to disclose.

Barnes Amenity Area No 2 Management Company Limited

Notes to the Financial Statements
for the Year Ended 24 December 2024 (continued)

11	Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 September 2025 was Ransford Agyei-Boamah, who signed for and on behalf of Shaw Gibbs (Audit) Limited.