The Wickets (Marton) Management Co Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 04278784 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2018

FOR

THE WICKETS (MARTON) MANAGEMENT CO LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

M E Burton

N V Munkley

D A Lennie

Ms Y Fell

G Freary

SECRETARY:

Town & City Secretaries Ltd

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark on Trent

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

04278784 (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 31st December 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2018 to the date of this report.

M E Burton

N V Munkley

D A Lennie

G Freary

Other changes in directors holding office are as follows:

Ms Y Fell - appointed 14th March 2018

The Company is limited by guarantee and has no share capital. The liability of each member is limited to £1.

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:

N V Munkley - Director

30th August 2019

INCOME

39,703

40,607

Service charge expenditure

39,987

40,305

OPERATING (DEFICIT)/SURPLUS

(284

)

302

Interest receivable and similar income

53

3

(231

)

305

Interest payable and similar expenses

2,376

1,320

DEFICIT BEFORE TAXATION

(2,607

)

(1,015

)

Tax on deficit

3

209

-

DEFICIT FOR THE FINANCIAL YEAR

(2,816

)

(1,015

)

FIXED ASSETS

Tangible assets

4

30,341

CURRENT ASSETS

Debtors

5

32,562

21,863

CREDITORS

Amounts falling due within one year

6

63,816

52,187

NET CURRENT LIABILITIES

(31,254

)

(30,324

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(913

)

17

RESERVES

Income and expenditure account

7

(913

)

17

(913

)

17

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 surplus or deficit 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 30th August 2019 and were signed on its behalf by:

N V Munkley - Director

1.	STATUTORY INFORMATION

The Wickets (Marton) Management Co Ltd is a private company, limited by guarantee , 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.

Income

During the year the company received monies from lessees, as agents, in respect of service charges and related

income,which are held on trust and do not constitute turnover.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

The Company owns the Freehold of the property known as The Wickets, Memorial Drive, Marton, Middlesbrough. The

cost of the property is not depreciated because in the opinion of the directors it's continuing value is underwritten by the

value of ground rents receivable.

Presentation of the income statement & balance sheet

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. Within the Balance Sheet on page 4, the Service Charge surplus and the Reserve Fund are

held on trust to the credit of lessees.

3.

TAXATION

Analysis of the tax charge

The tax charge on the deficit for the year was as follows:

31/12/18

31/12/17

£

Current tax:

UK corporation tax

209

-

Tax on deficit

209

-

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1st January 2018

and 31st December 2018

30,341

NET BOOK VALUE

At 31st December 2018

30,341

At 31st December 2017

30,341

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

Trade debtors

722

1,003

Other debtors

31,840

20,860

32,562

21,863

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

Trade creditors

42,540

34,257

Taxation and social security

-

1,320

Other creditors

21,276

16,610

63,816

52,187

7.

RESERVES

Income

and

expenditure

account

£

At 1st January 2018

17

Deficit for the year

(2,816

)

Transfer from Service Charge Account

1,886

At 31st December 2018

(913

)

8.	RELATED PARTY DISCLOSURES

During the year the Company paid to Mr N V Munkley, a director of the Company, £1,320 gross - £1,056 net, (2017 -

£1,320 gross - £1,056 net) in respect of interest on a loan of £12,000 made by him to the Company to assist with the

purchase of the freehold of the property in 2011. Interest on this loan is charged at 11% gross, which equates to the ground

rent passing on 24 units at £55 per unit per annum, relating to the 24 lessees who did not participate in the loan scheme to

purchase the freehold interest in the property.

The company is a mutual trading company and as such received income in the form of service charge from residents, some

of who are directors of the company. Service charges payable by the directors are on the same basis as for all the other

residents. No other transactions with related parties were undertaken such as are required to be disclosed under the FRS

102.