Graves Mill Estate Management Company Limited (The) Filleted accounts for Companies House (small and micro)

Graves Mill Estate Management Company Limited (The) Filleted accounts for Companies House (small and micro)

GRAVES MILL ESTATE MANAGEMENT COMPANY LIMITED(THE) - Company Information

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COMPANY REGISTRATION NUMBER: 01714796
GRAVES MILL ESTATE MANAGEMENT COMPANY LIMITED (THE)
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 September 2018
GRAVES MILL ESTATE MANAGEMENT COMPANY LIMITED (THE)
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 September 2018
2018
2017
Note
£
£
£
Current assets
Debtors
5
1,760
3,240
Cash at bank and in hand
7,413
8,771
--------
---------
9,173
12,011
Creditors: amounts falling due within one year
6
359
359
--------
---------
Net current assets
8,814
11,652
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---------
Total assets less current liabilities
8,814
11,652
Provisions
Other provisions
7
7,500
7,500
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---------
Net assets
1,314
4,152
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---------
Capital and reserves
Profit and loss account
1,314
4,152
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--------
Members funds
1,314
4,152
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 September 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
GRAVES MILL ESTATE MANAGEMENT COMPANY LIMITED (THE)
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
30 September 2018
These financial statements were approved by the board of directors and authorised for issue on 26 November 2018 , and are signed on behalf of the board by:
K Little
Director
Company registration number: 01714796
GRAVES MILL ESTATE MANAGEMENT COMPANY LIMITED (THE)
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
Year ended 30 September 2018
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Unit 3a Lakeland Business Park, Lamplugh Road, Cockermouth, CA13 0QT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for ground rent and service charges.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Company limited by guarantee
The company is limited by guarantee and does not have a share capital.
5. Debtors
2018
2017
£
£
Other debtors
1,760
3,240
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--------
6. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
359
359
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7. Provisions
Contingency fund
£
At 1 October 2017 and 30 September 2018
7,500
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