LAUREL_PARK_MANAGEMENT_CO - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 January 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Laurel Park Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 34 Laurel Park, Kenton Lane, Harrow, Middlesex, HA3 6AU.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention.The principal accounting policies adopted are set out below.

As stated in note 6, the directors have considered the effect of the Covid-19 outbreak. The directors consider that the outbreak is unlikely to cause significant disruption to the company's business and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.true

Turnover represents service charges receivable from residential property management.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks.

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value, with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The directors have considered the effect of the Covid-19 outbreak, that has been spreading throughout the world in early 2020, on the company’s activities. The outbreak is unlikely to cause significant disruption to the company's business, at the date of approval of these financial statements, the company has remained fully operational and the directors have a reasonable expectation that the company will continue to do so throughout the pandemic.