Tweet
Little bit of help please on understanding what is meant by statements on the Companies house pages. Just lining ducks up for queries when my wife (or probably me!) becomes an executor of a friends estate, which looks as though it will be very soon as we have already brought into play the Power of Attorney.
The lady lives in a block of 4 flats and a company was set up for the lease and maintenance etc. and the directors are the owners of the flats. There are regular payments of £25 from each of the owners into the company, presumably to provide funds for insurance, maintenance etc. These funds seem to be building up but when repairs are needed the company comes back to the residents for a payment to share the costs. There is a reported reasonable sum in the bank account, rising year by year.
The company is listed on Companies House as "Private company limited by guarantee without share capital" and yet when I look at the latest filed accounts the balance sheet is showing Assets: Cash in Bank £X000 and then Liabilities: Shareholders funds £X000 giving total assets as £0.
My question is how can this be shareholders funds when there are no shareholders?
Just been told, via a message from the hospital, that the lady will now be receiving only palliative care. It's sad but she is 89, severely disabled and her family don't bother with her.
The lady lives in a block of 4 flats and a company was set up for the lease and maintenance etc. and the directors are the owners of the flats. There are regular payments of £25 from each of the owners into the company, presumably to provide funds for insurance, maintenance etc. These funds seem to be building up but when repairs are needed the company comes back to the residents for a payment to share the costs. There is a reported reasonable sum in the bank account, rising year by year.
The company is listed on Companies House as "Private company limited by guarantee without share capital" and yet when I look at the latest filed accounts the balance sheet is showing Assets: Cash in Bank £X000 and then Liabilities: Shareholders funds £X000 giving total assets as £0.
My question is how can this be shareholders funds when there are no shareholders?
Just been told, via a message from the hospital, that the lady will now be receiving only palliative care. It's sad but she is 89, severely disabled and her family don't bother with her.
Comment