Leven Court Management Company Limited - Limited company accounts 16.3

REGISTERED NUMBER: 02829522 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH NOVEMBER 2016

FOR

LEVEN COURT MANAGEMENT COMPANY LIMITED

Page

Company Information

1

Report of the Directors

2

Income and Expenditure Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

D H Dawson

Mrs B Hellings

Mrs E Lewis

J P Muat

P J W Purvey

SECRETARY:

Kingston Property Services Limited

REGISTERED OFFICE:

Cheviot House, Beaminster Way East

Kingston Park

Newcastle upon Tyne

NE3 2ER

REGISTERED NUMBER:

02829522 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 30th November 2016.

DIRECTORS

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

report.

Mrs B Hellings

Mrs E Lewis

J P Muat

P J W Purvey

Other changes in directors holding office are as follows:

D H Dawson - appointed 29th February 2016

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:

J P Muat - Director

18th August 2017

INCOME

37,601

37,500

Service Charge Expenditure

38,917

38,848

(1,316

)

(1,348

)

Other operating income

1,500

OPERATING SURPLUS

2

184

152

Interest receivable and similar income

38

91

SURPLUS ON ORDINARY ACTIVITIES
BEFORE TAXATION

222

243

Tax on surplus on ordinary activities

3

222

243

SURPLUS FOR THE FINANCIAL YEAR

-

FIXED ASSETS

Tangible assets

4

9,588

9,870

CURRENT ASSETS

Debtors

5

8,003

14,926

Cash at bank

41,189

35,952

49,192

50,878

CREDITORS

Amounts falling due within one year

6

58,780

60,748

NET CURRENT LIABILITIES

(9,588

)

(9,870

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

RESERVES

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its surplus or deficit for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

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 19th July 2017 and were signed on its behalf by:

J P Muat - Director

D H Dawson - Director

Mrs E Lewis - 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

Income represents the amounts of service charges, ground rents and associated income invoiced to lessees in the

year, 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.

Freehold property

-

2% on cost

Presentation of the profit and loss account

The presentation of the Profit and Loss Account has been modified from the prescribed format for Company

accounts in order to provide more meaningful information to lessees and other parties who may be interested in

the income and expenditure relating to the management of the property.

2.	OPERATING SURPLUS

The operating surplus is stated after charging:

30/11/16

30/11/15

£

Depreciation - owned assets

282

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

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

30/11/16

30/11/15

£

Current tax:

UK corporation tax

222

243

Tax on surplus on ordinary activities

222

243

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1st December 2015

and 30th November 2016

14,100

DEPRECIATION

At 1st December 2015

4,230

Charge for year

282

At 30th November 2016

4,512

NET BOOK VALUE

At 30th November 2016

9,588

At 30th November 2015

9,870

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/16

30/11/15

£

Trade debtors

40

455

Other debtors

7,963

14,471

8,003

14,926

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/16

30/11/15

£

Trade creditors

4,057

7,687

Taxation and social security

214

243

Other creditors

54,509

52,818

58,780

60,748

7.

RESERVES

Income

and

expenditure

account

£

Surplus for the year

-

At 30th November 2016

-

8.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 30th November 2015 (2014 - none).

9.	RELATED PARTY DISCLOSURES

The company is a mutual trading company and as such receives income in the form of service charges and

associated income from residents, some of whom are directors of the company. Service charges payable by the

directors are on the same basis as for all of the other residents. .No other transactions with related parties were

undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities.

10.	LIMITED BY GUARANTEE

The liability of the members of the Company is limited by guarantee.