Company Registration No. 01849565 (England and Wales)
Chelsea Close Flat Management Limited
Unaudited accounts
for the year ended 31 December 2024
Chelsea Close Flat Management Limited
Unaudited accounts
Contents
Chelsea Close Flat Management Limited
Company Information
for the year ended 31 December 2024
Directors
Derek Mason
Peter Mills
Company Number
01849565 (England and Wales)
Registered Office
Roger Mcmillan Properties Limited
Oak House 5 Woodend Park
Cobham
Surrey
KT11 3BX
United Kingdom
Accountants
B McGarr & Co Ltd
C112 - 326-338 Molesey Road
Hersham
KT12 3PD
Chelsea Close Flat Management Limited
Statement of financial position
as at 31 December 2024
Called up share capital
24
24
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2025 and were signed on its behalf by
Peter Mills
Director
Company Registration No. 01849565
Chelsea Close Flat Management Limited
Notes to the Accounts
for the year ended 31 December 2024
Chelsea Close Flat Management Limited is a private company, limited by shares, registered in England and Wales, registration number 01849565. The registered office is Roger Mcmillan Properties Limited, Oak House 5 Woodend Park, Cobham, Surrey, KT11 3BX, United Kingdom.
2
Compliance with accounting standards
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. Monetary amounts in these financial statements are rounded to the nearest £.
The company was dormant throughout the current and prior year.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
At the balance sheet date the company bank accounts contained £20,424 (2023: £14,973) which is held on trust for the leaseholders under Section 42 of the Landlord and Tenant Act 1987.
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 balance sheet when the company becomes party to the contractual provisions of the instrument:
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets:-
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
The company contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts in accordance with the terms of the leases. At the year end the company had not entered into any non-cancellable commitments.
Chelsea Close Flat Management Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Allotted, called up and fully paid:
24 Ordinary shares of £1 each
24
24
6
Average number of employees
During the year the average number of employees was 2 (2023: 2).