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    Flat Living
    Home » FAQ – What are our assets?

    FAQ – What are our assets?

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    By Flat Living on January 1, 2015 FAQ, Self-Manage

    Companies House publish leaflets for management companies such as you describe.

    Providing you do not collect ground rents or make any capital sales (eg, lease extensions) it is possible that, if you follow the right procedures, you could make dormant company returns. 

    It is possible that the share capital is the only asset to be shown, subject to you not having had to purchase the freehold interest in the first place by enfranchisement or other process. 

    You should not therefore have to provide standard company accounts (merely a simplified balance sheet) and for management purposes, need merely provide an income and expenditure statement to the lessees.  It is good practice to include a balance sheet demonstrating that all income, less all expenditure, matches up with the money held at the bank. 

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