Mayfield (Washington) MCL - Limited company accounts 16.1

REGISTERED NUMBER: 03409761 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2015

FOR

MAYFIELD (WASHINGTON) MANAGEMENT

COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income and Expenditure Account

6

Balance Sheet

7

Notes to the Financial Statements

8

DIRECTORS:

N W Judson

Mrs E H Mekkawy

Dr E Mekkawy

SECRETARY:

Town & City Secretaries Ltd

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

03409761 (England and Wales)

AUDITORS:

Stephenson Nuttall & Co

Statutory Auditor

Chartered Accountants

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 2015.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2015 to the date of this

report.

N W Judson

Mrs E H Mekkawy

Dr E Mekkawy

Other changes in directors holding office are as follows:

J A Fleetham - resigned 13th August 2015

The company is limited by guarantee and has no share capital.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with

applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors

have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not

approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the

company and of the surplus or deficit of the company for that period. In preparing these financial statements, the

directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act

2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have

taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the

company's auditors are aware of that information.

AUDITORS

The auditors, Stephenson Nuttall & Co, will be proposed for re-appointment at the forthcoming Annual General

Meeting.

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:

Mrs E H Mekkawy - Director

20th June 2016

We have audited the financial statements of Mayfield (Washington) Management Company Limited for the year ended

31st December 2015 on pages six to nine. The financial reporting framework that has been applied in their preparation is

applicable law and the Financial Reporting Standard for Smaller Entities (effective January 2015) (United Kingdom

Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors 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

members as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of directors and auditors

As explained more fully in the Statement of Directors' Responsibilities set out on page two, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's (APB's) Ethical Standards for Auditors, including "APB Ethical Standard - Provisions Available for Small Entities (Revised)", in the circumstances set out in note ten to the financial statements.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give

reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error.

This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and

have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by

the directors; and the overall presentation of the financial statements. In addition, we read all the financial and

non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial

statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent

with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material

misstatements or inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31st December 2015 and of its deficit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the Report of the Directors for the financial year for which the financial

statements are prepared is consistent with the financial statements.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you

if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Sir Peter Parker Bt FCA (Senior Statutory Auditor)

for and on behalf of Stephenson Nuttall & Co

Statutory Auditor

Chartered Accountants

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

1st July 2016

INCOME

18,658

18,633

Service charge expenditure

19,018

18,261

OPERATING (DEFICIT)/SURPLUS

2

(360

)

372

Interest receivable and similar income

6

5

(DEFICIT)/SURPLUS ON ORDINARY
ACTIVITIES BEFORE TAXATION

(354

)

377

Tax on (deficit)/surplus on ordinary
activities

3

1

(DEFICIT)/SURPLUS FOR THE
FINANCIAL YEAR

(355

)

376

CURRENT ASSETS

Debtors

4

13,421

12,512

CREDITORS

Amounts falling due within one year

5

13,421

12,512

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

RESERVES

-

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The financial statements were approved by the Board of Directors on 20th June 2016 and were signed on its behalf by:

Mrs E H Mekkawy - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Income

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

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

Presentation of the profit and loss account

The presentation of the Profit and Loss Account on page 6 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.

2.	OPERATING (DEFICIT)/SURPLUS

The operating deficit (2014 - operating surplus) is stated after charging:

31/12/15

31/12/14

£

Auditors' remuneration

936

912

Directors' remuneration and other benefits etc

-

3.

TAXATION

It is considered that the company operates as a mutual concern and that no corporation tax liability arises in

respect of transactions with members of the company.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/15

31/12/14

£

Trade debtors

1,652

1,631

Other debtors

11,769

10,881

13,421

12,512

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/15

31/12/14

£

Trade creditors

3,238

273

Other creditors

10,183

12,239

13,421

12,512

6.

RESERVES

Income

and

expenditure

account

£

Deficit for the year

(355

)

Transfer (to)/from Service Charge
Account

355

At 31st December 2015

-

7.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2015 (2014 - none).

8.	CAPITAL COMMITMENTS

31/12/15

31/12/14

£

Contracted but not provided for in the

financial statements

-

9.	RELATED PARTY DISCLOSURES

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

residents, some of whom 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 required to

be disclosed under the Financial Reporting Standard for Smaller Entities.

10.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

11.	LIMIT OF MEMBERS LIABILITY

The liability of the members of the company is limited by guarantee to £1 each.