42 - 47 Highgate Management Company Limited - Abbreviated accounts

42 - 47 HIGHGATE MANAGEMENT COMPANY LIMITED - Company Information

Registered number

05570050

42 - 47 Highgate Management Company Limited

Abbreviated Accounts

30 September 2014

42 - 47 Highgate Management Company Limited

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of 42 - 47 Highgate Management Company Limited for the year ended 30 September 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of 42 - 47 Highgate Management Company Limited for the year ended 30 September 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of 42 - 47 Highgate Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 24 December 2014. Our work has been undertaken solely to prepare for your approval the accounts of 42 - 47 Highgate Management Company Limited and state those matters that we have agreed to state to the Board of Directors of 42 - 47 Highgate Management Company Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 42 - 47 Highgate Management Company Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that 42 - 47 Highgate Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of 42 - 47 Highgate Management Company Limited. You consider that 42 - 47 Highgate Management Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of 42 - 47 Highgate Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the abbreviated accounts.

Eric Southwick & Co
Chartered Accountants
51 The Avenue
Seaham
Co Durham
SR7 8NS

2 February 2015

42 - 47 Highgate Management Company Limited
Registered number:	05570050
Abbreviated Balance Sheet
as at 30 September 2014

Notes		2014			2013
£			£
Current assets
Cash at bank and in hand	7,392			19,613

Creditors: amounts falling due within one year	(363)			(352)

Net current assets		7,029			19,261

Net assets		7,029			19,261

Capital and reserves
Profit and loss account		7,029			19,261

Shareholders' funds		7,029			19,261

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



G R Thrush
Director
Approved by the board on 21 January 2015

42 - 47 Highgate Management Company Limited
Notes to the Abbreviated Accounts
for the year ended 30 September 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery	20% straight line
	Motor vehicles	25% straight line

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Foreign currencies
	Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.