| Pitt House Management Company Limited |
| Registered number: |
01915013 |
| Balance Sheet |
| as at 31 December 2019 |
|
| Notes |
|
|
2019 |
|
|
2018 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
17,916 |
|
|
17,916 |
|
| Current assets |
| Debtors |
4 |
|
500 |
|
|
300 |
| Cash at bank and in hand |
|
|
11,413 |
|
|
8,781 |
|
|
|
11,913 |
|
|
9,081 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,060) |
|
|
(1,060) |
|
| Net current assets |
|
|
|
10,853 |
|
|
8,021 |
|
| Net assets |
|
|
|
28,769 |
|
|
25,937 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Other reserves |
|
|
|
18,006 |
|
|
18,006 |
| Profit and loss account |
|
|
|
10,763 |
|
|
7,931 |
|
| Shareholders' funds |
|
|
|
28,769 |
|
|
25,937 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Mr G Russell |
|
| Approved by the board on 31 October 2020 |
|
| Pitt House Management Company Limited |
| Notes to the Accounts |
| for the year ended 31 December 2019 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents the value of the service charge contributions receivable during the year. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
The directors believe that the value of the freehold property is in excess of its cost and have not provided for any depreciation. |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
over 5 years |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
| 2 |
Employees |
2019 |
|
2018 |
| Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 January 2019 |
17,916 |
|
At 31 December 2019 |
17,916 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 December 2019 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2019 |
17,916 |
|
At 31 December 2018 |
17,916 |
|
|
|
The company acquired the freehold of Pitt House, Chudleigh, Devon in June 2011 for a total of £23,916. A lease for part of the property was granted on 16 June 2011, for the sum of £6,000, at a rent of one peppercorn per year if demanded. |
|
| 4 |
Debtors |
2019 |
|
2018 |
| £ |
£ |
|
|
Residents contributions |
500 |
|
300 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2019 |
|
2018 |
| £ |
£ |
|
|
Sundry creditors and accruals |
1,057 |
|
1,057 |
|
Amounts owed to directors |
3 |
|
3 |
|
|
|
|
|
|
1,060 |
|
1,060 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Loans |
2019 |
|
2018 |
| £ |
£ |
|
Creditors include: |
|
| 5 |
Share capital |
|
|
The company has no share capital as it is limited by guarantee. The extent of each member’s liability in the event of the company being wound up is limited to £1. |
|
|
| 6 |
Other reserves |
2019 |
|
2018 |
| £ |
£ |
|
|
Balance brought forward |
18,006 |
|
18,006 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Other information |
|
|
Pitt House Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
The Mill |
|
Kingsteignton Road |
|
Newton Abbot |
|
Devon |
|
TQ12 2QA |
