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THE MULBERRIES (NEWDIGATE ) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
Registered number: 04371774
Balance sheet
As at 31 December 2016
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 September 2017.
The notes on pages 3 to 4 form part of these financial statements.
Page 1
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THE MULBERRIES (NEWDIGATE ) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
Notes to the financial statements
For the Year Ended 31 December 2016
The Mulberries (Newdigate) Management Company Limited is a private limited company, limited by guarantee registered in England & Wales. The company's registered number and registered office address is shown on the Company Information page
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:
Turnover comprises management charges receivable from the residents during the year
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 3
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THE MULBERRIES (NEWDIGATE ) MANAGEMENT COMPANY LIMITED
(A company limited by guarantee)
Notes to the financial statements
For the Year Ended 31 December 2016
Other reserves
The other reserves are made up of funds kept in reserve for future expenditure on the Courtyard and other major items.
Profit & loss account
The reserves held on the profit and loss account are held so as to be able to fund any emergency expenditure that might be required on the properties and surrounding communual areas
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
Page 4
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