Palace Court Rushden Management Company Limited Filleted accounts for Companies House (small and micro)

PALACE COURT RUSHDEN MANAGEMENT COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 06082969

PALACE COURT RUSHDEN MANAGEMENT COMPANY LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

28 February 2019

PALACE COURT RUSHDEN MANAGEMENT COMPANY LIMITED

STATEMENT OF FINANCIAL POSITION

28 February 2019

	2019		2018
Note	£	£	£	£

CURRENT ASSETS

Debtors	4	3,268	2,185
Cash at bank and in hand		369	1,093
		-------	-------
		3,637	3,278

CREDITORS: amounts falling due within one year	5	3,537		3,178
		-------		-------
NET CURRENT ASSETS			100		100
			----		----
TOTAL ASSETS LESS CURRENT LIABILITIES			100		100
			----		----
NET ASSETS			100		100
			----		----

CAPITAL AND RESERVES

Called up share capital	100	100
	----	----
SHAREHOLDERS FUNDS	100	100
	----	----

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 28 February 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 9 October 2019 , and are signed on behalf of the board by:

Mr L C Freilich
Director

Company registration number: 06082969

PALACE COURT RUSHDEN MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 28 FEBRUARY 2019

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Sentinel Square, Hendon, London, NW4 2EL, United Kingdom.

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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

4. DEBTORS

	2019	2018
	£	£
Trade debtors	2,138	1,268
Other debtors	1,130	917
	-------	-------
	3,268	2,185
	-------	-------

5. CREDITORS: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	–	102
Other creditors	3,537	3,076
	-------	-------
	3,537	3,178
	-------	-------