The Wickets (Marton) Management Co Ltd - Limited company accounts 11.4

REGISTERED NUMBER: 04278784 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2013

FOR

THE WICKETS (MARTON) MANAGEMENT CO LTD

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

3

Profit and Loss Account

5

Balance Sheet

6

Notes to the Financial Statements

7

DIRECTORS:

M E Burton

P Griffin

N V Munkley

D A Lennie

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)

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 2013.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2013 to the date of this

report.

M E Burton

P Griffin

N V Munkley

D A Lennie

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

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 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.

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 ought to have taken

as a director in order to make himself 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 special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

N V Munkley - Director

4th July 2014

We have audited the financial statements of The Wickets (Marton) Management Co Ltd for the year ended

31st December 2013 on pages five 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 April 2008) (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 eleven 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 2013 and of its loss 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

28th July 2014

INCOME

45,029

43,246

Service charge expenditure

44,635

46,804

OPERATING PROFIT/(LOSS)

2

394

(3,558

)

Interest receivable and similar income

14

16

408

(3,542

)

Interest payable and similar charges

1,056

1,290

LOSS ON ORDINARY ACTIVITIES
BEFORE TAXATION

(648

)

(4,832

)

Tax on loss on ordinary activities

3

253

238

LOSS FOR THE FINANCIAL YEAR

(901

)

(5,070

)

FIXED ASSETS

Tangible assets

4

30,341

CURRENT ASSETS

Debtors

5

28,477

26,385

CREDITORS

Amounts falling due within one year

6

59,053

57,237

NET CURRENT LIABILITIES

(30,576

)

(30,852

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(235

)

(511

)

RESERVES

Profit and loss account

7

(235

)

(511

)

(235

)

(511

)

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 4th July 2014 and were signed on its behalf by:

N V Munkley - 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 April 2008).

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 profit and loss account & balance sheet

The presentation of the Profit and Loss Account on page 5 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 6, the Service Charge

surplus and the Reserve Fund are held on trust to the credit of lessees.

2.	OPERATING PROFIT/(LOSS)

The operating profit (2012 - operating loss) is stated after charging:

31/12/13

31/12/12

£

Auditors' remuneration (including accountancy)

1,128

1,098

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the loss on ordinary activities for the year was as follows:

31/12/13

31/12/12

£

Current tax:

UK corporation tax

253

238

Tax on loss on ordinary activities

253

238

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1st January 2013

and 31st December 2013

30,341

NET BOOK VALUE

At 31st December 2013

30,341

At 31st December 2012

30,341

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/13

31/12/12

£

Trade debtors

387

1,668

Other debtors

28,090

24,717

28,477

26,385

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/13

31/12/12

£

Trade creditors

33,030

34,136

Taxation and social security

250

235

Other creditors

25,773

22,866

59,053

57,237

7.

RESERVES

Profit

and loss

account

£

At 1st January 2013

(511

)

Deficit for the year

(901

)

Transfer from Service Charge
Account

1,177

At 31st December 2013

(235

)

8.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2013 (2012 - None).

9.	CAPITAL COMMITMENTS

31/12/13

31/12/12

£

Contracted but not provided for in the

financial statements

-

10.	RELATED PARTY DISCLOSURES

During the year the Company paid to Mr N V Munkley, a director of the Company, £1,320 gross (2012 -

£1,290 gross) 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 required to

be disclosed under the Financial Reporting Standard for Smaller Entities.

11.	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.