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Correct treatment of accounting transactions?

Accounts of a property management company

I am about to prepare annual accounts of a management company which owns freehold for a block of flats and shareholders are the flat owners, each owner owning 1 share of £1 each. Previous accountants have drawn up dormant company accounts although the service charges are being collected and spent, all through the bank account of an agent. Is this correct? Should the monies and sinking fund not be in the name of the company?

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12th Feb 2019 01:53

Have a look at Tech 03/11 from the ICAEW

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12th Feb 2019 08:57

What does it say in the lease?

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