Mulberry Management Limited - Accounts to registrar (filleted) - small 18.2
Mulberry Management Limited - Accounts to registrar (filleted) - small 18.2
MULBERRY MANAGEMENT LIMITED |
Financial Statements |
for the Year Ended 31 October 2019 |
MULBERRY MANAGEMENT LIMITED (REGISTERED NUMBER: 01872085) |
Contents of the Financial Statements |
for the year ended 31 October 2019 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
MULBERRY MANAGEMENT LIMITED |
Company Information |
for the year ended 31 October 2019 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
MULBERRY MANAGEMENT LIMITED (REGISTERED NUMBER: 01872085) |
Statement of Financial Position |
31 October 2019 |
2019 | 2018 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
Total assets less current liabilities |
Capital and reserves |
Called up share capital | 5 |
Shareholders' funds |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on signed on its behalf by: |
MULBERRY MANAGEMENT LIMITED (REGISTERED NUMBER: 01872085) |
Notes to the Financial Statements |
for the year ended 31 October 2019 |
1. | Statutory information |
Mulberry Management Limited is a |
company's registered number and registered office address can be found on the Company Information page. |
2. | Accounting policies |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
including expectations of future events that are believed to be reasonable under the circumstances. |
(a) Critical judgements in applying the Company's accounting policies |
The Company makes a number of assessments which require judgement in preparing the accounts and can |
have a significant effect upon the financial statements. However due to the straight forward nature of the |
Company's business, management does not believe that there are any judgements that have a significant risk of |
causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. |
(b) Key accounting estimates and assumptions |
The Company makes estimates and assumptions concerning the future. The resulting accounting estimates |
will, by definition, seldom equal the related actual results. However due to the straight forward nature of the |
Company's business, management does not believe that there are any estimates and assumptions that have a |
significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the |
next financial year. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
Compliance with uitf draft abstract 92 (formerly 49) on residential managem |
For the years ended 31 October 2010 and prior, the company's financial statements reflected the activities of |
managing Jamestown Harbour residences. |
UITF 49 was adopted for the years ended 31 October 2011 and post, where the activities of Jamestown Harbour |
residences are now reflected outside these financial statements in separate service charge accounts - |
comprising the Profit and Loss Account and Balance Sheet respectively. |
MULBERRY MANAGEMENT LIMITED (REGISTERED NUMBER: 01872085) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2019 |
2. | Accounting policies - continued |
Financial instruments |
(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances and investments in |
commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing |
transaction, where the transaction is measured at the present value of the future receipts discounted at a market |
rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans, and preference shares that are |
classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future receipts discounted at a |
market rate of interest. |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year |
or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at |
transaction price and subsequently measured at amortised cost using the effective interest method. |
(iii) Company financial instruments |
The Company has not issued and is not in receipt of any compound financial instruments. |
(iv) Offsetting |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there |
is a legally 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. |
Going concern |
These financial statements have been prepared on a going concern basis. |
The current economic conditions present increased risks for all businesses. In response to such conditions, the |
directors have carefully considered these risks including an assessment on uncertainty on future trading |
projection for a period of at least 12 months from the date of signing the financial statements, and the extent |
to which they might affect the preparation of the financial statements on a going concern basis. |
Based on assessment, the directors consider that the Company maintains an appropriate level of liquidity, |
sufficient to meet the demands of the business including any capita and servicing obligations and external debt |
liabilities. |
In addition, the Company's assets are assessed for recoverability on a regular basis, and the directors consider |
that the Company is not exposed to losses on these assets which would affect their decision to adopt the going |
concern basis. |
The directors have a reasonable expectation that the Company has adequate resources to continue in |
operational existence for the foreseeable future and that there are no material uncertainties that lead to |
significant doubts upon the Company's ability to continue as a going concern. Thus the directors have |
continued to adopt the going concern basis of accounting in preparing these financial statements. |
MULBERRY MANAGEMENT LIMITED (REGISTERED NUMBER: 01872085) |
Notes to the Financial Statements - continued |
for the year ended 31 October 2019 |
3. | Employees and directors |
The average number of employees during the year was NIL (2018 - NIL). |
4. | Debtors: amounts falling due within one year |
2019 | 2018 |
£ | £ |
Other debtors |
Outside the company there are net assets of £350,103. |
5. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
Ordinary A shares | 2 | 146 | 146 |
Ordinary B shares | 0.05 | 21 | 21 |
167 | 167 |
6. | Reserves |
Retained |
earnings |
£ |
Profit for the year |
At 31 October 2019 |