ACCOUNTS - Final Accounts

BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED - Company Information

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Registered number: 04812215

BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 04812215

BALANCE SHEET

AS AT 25 DECEMBER 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	1,032		905
Cash at bank and in hand		22,803		20,731
		23,835		21,636
Creditors: amounts falling due within one year	5	(977)		(1,037)
Net current assets			22,858		20,599
Total assets less current liabilities			22,858		20,599

Net assets			22,858		20,599

Capital and reserves
Profit and loss account	22,858	20,599
	22,858	20,599

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 statement of income and retained earnings 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 on 16 March 2020.

P H German

Director

The notes on pages 2 to 4 form part of these financial statements.

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BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

1.	General information

Birkdale Court Residents Management Company Limited is a private company limited by guarantee, incorporated in England and Wales (registered number: 04812215). Its registered office is 2 Ashgate Road, Chesterfield, Derbyshire, S40 4AA. The principal activity of the company throughout the year continued to be that of a property management company.

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 company’s functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

2.Accounting policies (continued)

2.3

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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BIRKDALE COURT RESIDENTS MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 25 DECEMBER 2019

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Debtors

					2019	2018
					£	£


Trade debtors	134	69
Prepayments and accrued income	898	836
	1,032	905

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Corporation tax	80	80
Accruals and deferred income	897	957
	977	1,037


6.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

7.	Auditors' information

The auditors' report on the financial statements for the year ended 25 December 2019 was unqualified.

The audit report was signed on 16 March 2020 by Howard Freeman (Senior Statutory Auditor) on behalf of Shorts.

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