NV Buildings (Salford Quays) Management Limited. Unaudited Service Charge Accounts and Report. 30 June 2010

Transcription

1 Registered number Unaudited Service Charge Accounts and Report 30 June 2010

2 Registered number: Directors' Report The directors present their report and accounts. Principal activities The company's principal activity during the year continued to be a Residents' Management Company. Directors The following persons served as directors during the year: Heather Coulter David James Political and charitable donations During the year, the company made no political contribution or charitable donations. Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 7 December 2010 and signed on its behalf. David James Director 1

3 Accountants' Report Accountants' report to the directors of You consider that the company is exempt from an audit. You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year. In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us. We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts. Affordable Accounts Group Chartered Management Accountants 9 King Street Westhoughton Bolton BL5 3AX 7 December

4 Profit and Loss Account Notes Service Charge Income 453, ,165 Over/under spend on service charges 611 (92,180) Gross profit 454, ,985 Expenditure (534,318) (400,837) Other income 20,154 32,679 Loss (59,617) (5,173) Income from insurance 59,478 2,874 Interest receivable 139 2,299 Profit on ordinary activities before taxation - - Tax on profit on ordinary activities - - Profit for the financial year - - 3

5 Balance Sheet as at 30 June 2010 Notes Current assets Debtors 2 68, ,751 Cash at bank and in hand 234, , , ,224 Creditors: amounts falling due within one year 3 (123,514) (69,008) Net current assets 180, ,216 Total assets less current liabilities 180, ,216 Creditors: amounts falling due after more than one year (47,739) Net assets 180, ,477 Capital and reserves Additional Funds 8 6,222 - Reserve Fund 5 174, , , ,477 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. David James Director Approved by the board on 7 December

6 Notes to the Accounts 1 Accounting policies Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Service Charges Income Service Charge Income represents the amount of service charges payable by each lessee. 2 Debtors Service Charges Owing 66, ,751 Prepayments 1,725-68, ,751 3 Creditors: amounts falling due within one year Trade creditors 52,276 56,825 Service Charges Prepaid 71,238 6,461 Other creditors (Countryside) (See notes 7) - 5, ,514 69,008 4 Creditors: amounts falling due after one year Service charges over/under spend (611) 47,739 5 Reserve Fund 2010 At 1 July ,477 Surplus from annual Reserve budget allocation 6,922 At 30 June ,399 5

7 Notes to the Accounts Accumulated 2010 Spend Allocated 2,009 to date Budget fot 6 Reserves Reserve fund Internal Decoration/Repairs 4 Years 6,688 (17,164) 5,000 18,852 External Decoration/Repairs 6 Years 64,086 (470) 8,000 56,556 Roof Reserve 19,048 (1,210) 1,500 18,758 Lift Reserve Electrical /Maintenance 19,852-1,000 18,852 - Fabric Maintenance 64,725 (4,233) 14,500 54,458 Totals 174,399 (23,077) 30, ,477 7 Prior Period Adjustment 2,010 2,009 The outstanding debt to Countryside which has been carried forward from previous years, has now been written off. - 5,722 8 Additional Funds This consists of income from filming and the non payment to countryside. 6

8 Profit and Loss Account for the information of the directors only Service Charge Income 453, ,165 Over/under spend on service charges 611 (92,180) Gross profit 454, ,985 Expenditure (534,318) (400,837) Other income 20,154 32,679 Loss (59,617) (5,173) Income from insurance 59,478 2,874 Interest receivable 139 2,299 Profit before tax - - 7

9 Schedule to the Profit and Loss Account for the information of the directors only Service Charge Income Service Charge Income 453, ,165 Over/under spend on service charges (611) 92,180 Electrical/lighting costs 9,023 3,044 Cleaning and concierge costs 157, ,951 Maintenance and groundworks 42,491 38,608 Consumables 7,608 6, , ,288 Utilities 41,298 30,519 Improvements 2,515 - Telephones 1,945 - Postage Decoration Allocation to the Reserve Fund 30,000 - Fire Alarms 7,194 4,296 Bank charges Buildings/lift insurance 110,319 99,729 CCTV/Security 412 2,102 AGM Room Hire Miscellaneous Insurance works 56,710 - Gardening/Landscaping 3,402 2, , ,197 Prior period adjustment - (4,688) Accountancy fees 3,450 3,450 Solicitors fees 6,787 9,759 Management fees 39,525 44,175 Other legal and professional 13,251 9,656 63,013 62, , ,837 Other income Legal/other/admin income 20,154 32,679 8