FARINGTON_ACRES_LIMITED - Accounts

The principal activity of the company continued to be managing the property, of which the company owns the freehold, at Farington Acres, Vale Road, Weybridge, Surrey for the mutual benefit of shareholders, who are Leaseholders.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Farington Acres Limited for the year ended 30 June 2014 set out on pages 3 to 5 from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made to the Company's Board of Directors, as a body, in accordance with the terms of engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Board of Directors as a body, for our work or for this report.

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The company, which contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts, has no income or expenditure in its own right. All transactions in the year relate to maintenance of the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts except for accountancy fee, company secretarial and directors and officers Insurance for the property that do not form part of the annual statutory accounts of the company that are filed at Companies House. All service charge monies received from leaseholders are held on trust for the leaseholders.

The company, which contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts, has no income or expenditure in its own right. All transactions in the year relate to maintenance of the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown in separate service charge accounts except for accountancy fee, company secretarial and directors and officers Insurance for the property that do not form part of the annual statutory accounts of the company that are filed at Companies House. All service charge monies received from leaseholders are held on trust for the leaseholders.

Turnover represents the shareholder service charge receivable during the year.