The Point at Sleaford Management Co Ltd - Limited company accounts 18.2

The Point at Sleaford Management Co Ltd - Limited company accounts 18.2


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REGISTERED NUMBER: 05617101 (England and Wales)















REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2017

FOR

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30th September 2017




Page

Company Information 1

Report of the Directors 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 5


THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED

COMPANY INFORMATION
for the Year Ended 30th September 2017







DIRECTORS: D E Hugill
R Pryor





REGISTERED OFFICE: Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX





REGISTERED NUMBER: 05617101 (England and Wales)





ACCOUNTANTS: Stephenson Nuttall & Co
Chartered Accountants
Ossington Chambers
6-8 Castle Gate
Newark
Nottinghamshire
NG24 1AX

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

REPORT OF THE DIRECTORS
for the Year Ended 30th September 2017

The directors present their report with the financial statements of the company for the year ended 30th September 2017.

DIRECTORS
The directors who have held office during the period from 1st October 2016 to the date of this report are as follows:

P J R Barker - resigned 3rd February 2017
D E Hugill - appointed 12th October 2016
R Pryor - appointed 12th October 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:





D E Hugill - Director


23rd July 2018

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

INCOME STATEMENT
for the Year Ended 30th September 2017

30/9/17 30/9/16
Notes £    £   

TURNOVER 19,572 20,419

Service Charge Expenditure 19,572 20,419
OPERATING PROFIT and
PROFIT BEFORE TAXATION - -

Tax on profit 3 - -
PROFIT FOR THE FINANCIAL YEAR - -

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

BALANCE SHEET
30th September 2017

30/9/17 30/9/16
Notes £    £   
CURRENT ASSETS
Debtors 4 4,526 1,754
Cash at bank 19,317 21,973
23,843 23,727
CREDITORS
Amounts falling due within one year 5 22,843 22,727
NET CURRENT ASSETS 1,000 1,000
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,000

1,000

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
SHAREHOLDERS' FUNDS 1,000 1,000

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 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 profit or loss 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.

The financial statements were approved by the Board of Directors on 23rd July 2018 and were signed on its behalf by:





D E Hugill - Director


THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30th September 2017

1. STATUTORY INFORMATION

The Point at Sleaford Management Company Limited is a private company, limited by shares , registered in
England and Wales. The company's registered number and registered office address can be found on the
Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Contributions receivable
Turnover comprises service charge contributions receivable for the year. This includes any recoverable service
charge deficits that arise during the year. Contributions are receivable from the leaseholders in specified
proportions based on the budget prepared by the managing agents and in accordance with the provisions of each
lease.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the
timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Reserve fund
The Reserve Fund is held on trust on behalf of the leaseholders and is intended to contribute towards the cost of
future non-annual expenditure.

Presentation of the income statement
The presentation of the income statement on page 3 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, and the way in which surpluses and deficits are dealt
with.

3. TAXATION

Analysis of the tax charge
No liability to UK corporation tax arose for the year ended 30th September 2017 nor for the year ended
30th September 2016.

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th September 2017

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/17 30/9/16
£    £   
Trade debtors 3,526 504
Other debtors 1,000 1,000
Prepayments - 250
4,526 1,754

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/17 30/9/16
£    £   
Payments on account 9,615 10,093
Trade creditors 1,550 712
VAT 478 922
Reserve Fund 10,000 10,000
Accrued expenses 1,200 1,000
22,843 22,727

6. CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:
Number: Class: Nominal 30/9/17 30/9/16
value: £    £   
1,000 Ordinary £1 1,000 1,000

7. RESERVES
Retained
earnings
£   

Profit for the year -
At 30th September 2017 -

8. CONTINGENT LIABILITIES

The company had no contingent liabilities at 30th September 2017 (2016 - Nil).

9. CAPITAL COMMITMENTS
30/9/17 30/9/16
£    £   
Contracted but not provided for in the
financial statements - -

10. ULTIMATE CONTROLLING PARTY

NHS Property Services Ltd held 679 ordinary shares in the company at 30th September 2017 (2016 - 679).

THE POINT AT SLEAFORD MANAGEMENT
COMPANY LIMITED (REGISTERED NUMBER: 05617101)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30th September 2017

11. FIRST TIME ADOPTION OF FINANCIAL REPORTING STANDARD 102

These financial statements are the first which the company has prepared in accordance with the provisions of
Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The
transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative
period at 1st October 2015, the income statement for the comparative period ended 30th September 2016 or the
closing balance sheet of the comparative period at 30th September 2016.