Petworth Management Company Limited - Accounts to registrar (filleted) - small 18.2

Petworth Management Company Limited - Accounts to registrar (filleted) - small 18.2

PETWORTH MANAGEMENT COMPANY LIMITED - Company Information

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UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

PETWORTH MANAGEMENT COMPANY LIMITED
Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT








PETWORTH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03397895)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PETWORTH MANAGEMENT COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2020







DIRECTORS: T W Cole
J L Pindell





SECRETARY: A R Jadzevics





REGISTERED OFFICE: C/o Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT





REGISTERED NUMBER: 03397895 (England and Wales)





ACCOUNTANTS: Evans Weir
The Victoria
25 St Pancras
Chichester
West Sussex
PO19 7LT
Page 1
PETWORTH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03397895)

BALANCE SHEET
31ST DECEMBER 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 157,178 166,308

CURRENT ASSETS
Debtors 5 5,980 4,823
Cash at bank and in hand 229,104 182,916
235,084 187,739
CREDITORS
Amounts falling due within one year 6 116,127 77,912
NET CURRENT ASSETS 118,957 109,827
TOTAL ASSETS LESS CURRENT
LIABILITIES
276,135
276,135

RESERVES
Sinking Fund 276,135 276,135
276,135 276,135

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2020 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th February 2021 and were signed on its behalf by:





T W Cole - Director


The notes form part of these financial statements

Page 2
PETWORTH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03397895)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2020

1. STATUTORY INFORMATION

Petworth Management Company Limited is a private company, limited by guarantee , registered in England and Wales. The 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Taxation
Taxation for the year comprises current year tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

Page 3 continued...
PETWORTH MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 03397895)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2020

4. TANGIBLE FIXED ASSETS
Plant and
Freehold machinery
Land etc Totals
£    £    £   
COST
At 1st January 2020 144,649 44,341 188,990
Additions - 875 875
At 31st December 2020 144,649 45,216 189,865
DEPRECIATION
At 1st January 2020 - 22,682 22,682
Charge for year - 10,005 10,005
At 31st December 2020 - 32,687 32,687
NET BOOK VALUE
At 31st December 2020 144,649 12,529 157,178
At 31st December 2019 144,649 21,659 166,308

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 3,795 2,772
Other debtors 2,185 2,051
5,980 4,823

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade creditors 4,149 2,602
Taxation and social security 1,040 1,073
Other creditors 110,938 74,237
116,127 77,912

Other creditors shown above include the amount of £10,365 which is held by the company in respect of the Lodge Green Tennis Court maintenance fund.

7. SINKING FUND

Black Pond Total
Communal Acquisition
£ £ £
Balance at 31 December 2019 131,486 144,649 276,135
Year end transfer 0 0 0
Balance at 31 December 2020 131,486 144,649 276,135

Page 4