The Point at Sleaford Management Co Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 05617101 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2018

FOR

THE POINT AT SLEAFORD MANAGEMENT

COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

D E Hugill

R Pryor

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

05617101 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 30th September 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st October 2017 to the date of this report.

D E Hugill

R Pryor

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D E Hugill - Director

26th April 2019

TURNOVER

22,443

19,572

Service Charge Expenditure

22,443

19,572

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

3

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Debtors

4

5,345

4,526

Cash at bank

19,402

19,317

24,747

23,843

CREDITORS

Amounts falling due within one year

5

23,747

22,843

NET CURRENT ASSETS

1,000

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000

CAPITAL AND RESERVES

Called up share capital

6

1,000

SHAREHOLDERS' FUNDS

1,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each
financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395
and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as
applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26th April 2019 and were signed on its behalf by:

D E Hugill - Director

1.	STATUTORY INFORMATION

The Point at Sleaford Management Company Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Contributions receivable

Turnover comprises service charge contributions receivable for the year. This includes any recoverable service charge

deficits that arise during the year. Contributions are receivable from the leaseholders in specified proportions based on the

budget prepared by the managing agents and in accordance with the provisions of each lease.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent

that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively

enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in

which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted

or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Reserve fund

The Reserve Fund is held on trust on behalf of the leaseholders and is intended to contribute towards the cost of future

non-annual expenditure.

Presentation of the income statement

The presentation of the income statement on page 3 has been modified from the prescribed format for company accounts in

order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the

management of the property, and the way in which surpluses and deficits are dealt with.

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 30th September 2018 nor for the year ended

30th September 2017.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

Trade debtors

3,996

3,526

Other debtors

1,000

VAT

27

-

Prepayments

322

-

5,345

4,526

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/9/18

30/9/17

£

Payments on account

10,309

9,615

Trade creditors

1,848

1,550

VAT

-

478

Reserve Fund

10,000

Accrued expenses

1,590

1,200

23,747

22,843

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/18

30/9/17

value:

£

1,000

Ordinary

£1

1,000

7.

RESERVES

Retained

earnings

£

Profit for the year

-

At 30th September 2018

-

8.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 30th September 2018 (2017 - Nil).

9.	CAPITAL COMMITMENTS

30/9/18

30/9/17

£

Contracted but not provided for in the

financial statements

-

10.	ULTIMATE CONTROLLING PARTY

NHS Property Services Ltd held 679 ordinary shares in the company at 30th September 2018 (2017 - 679).