ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

DIRFT III MANAGEMENT COMPANY LIMITED - Company Information

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Caseware UK (AP4) 2018.0.111 2018.0.111 2019-05-312019-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseNo description of principal activityfalse2018-06-01 09588414 2018-06-01 2019-05-31 09588414 2019-05-31 09588414 2018-05-31 09588414 c:Director1 2018-06-01 2019-05-31 09588414 d:CurrentFinancialInstruments 2019-05-31 09588414 d:CurrentFinancialInstruments 2018-05-31 09588414 d:CurrentFinancialInstruments d:WithinOneYear 2019-05-31 09588414 d:CurrentFinancialInstruments d:WithinOneYear 2018-05-31 09588414 d:ShareCapital 2019-05-31 09588414 d:ShareCapital 2018-05-31 09588414 c:OrdinaryShareClass1 2018-06-01 2019-05-31 09588414 c:OrdinaryShareClass1 2019-05-31 09588414 c:OrdinaryShareClass1 2018-05-31 09588414 c:FRS102 2018-06-01 2019-05-31 09588414 c:AuditExempt-NoAccountantsReport 2018-06-01 2019-05-31 09588414 c:FullAccounts 2018-06-01 2019-05-31 09588414 c:PrivateLimitedCompanyLtd 2018-06-01 2019-05-31 09588414 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-06-01 2019-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09588414









DIRFT III MANAGEMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2019
 
DIRFT III MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 09588414

BALANCE SHEET
AS AT 31 MAY 2019

2019
2018
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
364,967
120,549

Bank and cash balances
  
85,457
6,891

  
450,424
127,440

Creditors: amounts falling due within one year
 5 
(450,423)
(127,439)

Net current assets
  
 
 
1
 
 
1

Total assets less current liabilities
  
1
1

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
  
1
1

  
1
1


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




N D M Smith
Director

Date: 26 November 2019

The notes on pages 2 to 3 form part of these financial statements.

Page 1
 
DIRFT III MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

1.


General information

Dirft III Management Company Limited is a limited liability company incorporated and domiciled in England. The registered office is shown on the Company Information page.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are prepared for the year ended 31 May 2019 (2018: year ended 31 May 2018).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Service charge income

Service charge income represents maintenance, management and administration costs recoverable from owners or occupiers ofunits on the site, exclusive of Value Added Tax. Amounts are charged quarterly on account and any surplus or deficit are refunded or recharged to the relevant parties.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2018 -3).

Page 2
 
DIRFT III MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2019

4.


Debtors

2019
2018
£
£


Trade debtors
71,801
-

Other debtors
289,550
17,390

Prepayments
3,616
3,955

Accrued income
-
99,204

364,967
120,549



5.


Creditors: Amounts falling due within one year

2019
2018
£
£

Trade creditors
61,901
10,557

Other creditors
366,364
110,000

Accruals and deferred income
22,158
6,882

450,423
127,439



6.


Share capital

2019
2018
£
£
Allotted, called up and fully paid



1 (2018 -1) Ordinary share of £1.00
1
1

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