COLLINGWOOD_(2)_MANAGEMEN - Accounts

The director presents her report and financial statements for the year ended 30 June 2016.

The principal activity of the company continued to be the maintenance and management of the property 35-52 Collingwood Place, Walton upon Thames, Surrey for the mutual benefit of the lessees, each of whom is a shareholder. The Company has no income and expenditure in its own right, all transactions in the year being related to the maintenance of the common parts in accordance with the lease. Service Charges collected are held on trust for the purpose of the meeting the relevant cost in relation to the property in accordance with the provision of section 42 of the Landlord and Tenant Act 1987.

The Company has no income and expenditure in its own right, all transactions in the year being related to the maintenance of the common parts in accordance with the lease. Service Charges collected are held on trust for the purpose of the meeting the relevant cost in relation to the property in accordance with the provision of section 42 of the Landlord and Tenant Act 1987.

The directors are responsible for preparing the Directors' Report 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 profit or loss 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Collingwood (2) Management Company (Walton) Limited for the year ended 30 June 2016 set out on pages 3 to 7 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 http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Collingwood (2) Management Company (Walton) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Collingwood (2) Management Company (Walton) Limited and state those matters that we have agreed to state to the Board of Directors of Collingwood (2) Management Company (Walton) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Collingwood (2) Management Company (Walton) Limited and its 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 related to the 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 for the property that do not form part of the annual statutory accounts of the company and are not filed at Companies House. All service charge monies received from individual leaseholders are held on trust for the leaseholders, as a body.

The company, which contracts with third parties in its own name for the supply of services related to the 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 for the property that do not form part of the annual statutory accounts of the company and are not filed at Companies House. All service charge monies received from individual leaseholders are held on trust for the leaseholders, as a body.

The company is controlled by the Lessees of Collingwood Place, Walton upon Thames, Surrey, each of whom are shareholders. Each shareholder is a Lessee and contributes service charges on the same basis as other Lessees.