The Wickets (Marton) Management Co Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 04278784 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

THE WICKETS (MARTON) MANAGEMENT CO LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

M E Burton

N V Munkley

D A Lennie

G Freary

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)

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 31st December 2017.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2017 to the date of this

report.

M E Burton

N V Munkley

D A Lennie

Other changes in directors holding office are as follows:

P Griffin - resigned 7th August 2017

G Freary - appointed 16th June 2017

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

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:

N V Munkley - Director

5th September 2018

INCOME

40,607

43,526

Service charge expenditure

40,305

43,218

OPERATING PROFIT

302

308

Interest receivable and similar income

3

23

305

331

Interest payable and similar expenses

1,320

1,056

LOSS BEFORE TAXATION

(1,015

)

(725

)

Tax on loss

3

-

283

LOSS FOR THE FINANCIAL YEAR

(1,015

)

(1,008

)

FIXED ASSETS

Tangible assets

4

30,341

CURRENT ASSETS

Debtors

5

21,863

45,560

CREDITORS

Amounts falling due within one year

6

52,187

74,811

NET CURRENT LIABILITIES

(30,324

)

(29,251

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

17

1,090

RESERVES

Retained earnings

7

17

1,090

17

1,090

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 4th September 2018 and were signed on its behalf
by:

N V Munkley - Director

1.	STATUTORY INFORMATION

The Wickets (Marton) Management Co Ltd 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.

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 income statement & balance sheet

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. Within the Balance Sheet on page 4, the Service Charge

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

3.

TAXATION

Analysis of the tax charge

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

31/12/17

31/12/16

£

Current tax:

UK corporation tax

-

283

Tax on loss

-

283

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1st January 2017

and 31st December 2017

30,341

NET BOOK VALUE

At 31st December 2017

30,341

At 31st December 2016

30,341

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

Trade debtors

1,003

179

Other debtors

20,860

45,381

21,863

45,560

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/17

31/12/16

£

Trade creditors

34,257

43,814

Taxation and social security

1,320

278

Other creditors

16,610

30,719

52,187

74,811

7.

RESERVES

Retained

earnings

£

At 1st January 2017

1,090

Deficit for the year

(1,015

)

Transfer from Service Charge
Account

(58

)

At 31st December 2017

17

8.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2017 (2016 - None)..

9.	CAPITAL COMMITMENTS

31/12/17

31/12/16

£

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 -- £1,056 net,,

(2016 - £1,320 gross - £1,056 net) 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 are

required to be disclosed under the FRS 102.