The Corney Reach Estate Management Compa - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03044227 (England and Wales)

Unaudited Financial Statements

for the Year Ended 29 June 2020

for

The Corney Reach Estate Management

Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D G Claridge

G Hunter

P Kierman

SECRETARY:

T Sworn

REGISTERED OFFICE:

Sworn & Co

194 Chiswick High Road

London

W4 1PD

REGISTERED NUMBER:

03044227 (England and Wales)

ACCOUNTANTS:

Ledger Sparks Limited

Airport House

Suite 43-45

Purley Way

Croydon

CR0 0XZ

FIXED ASSETS

Tangible assets

4

20,000

10,599

CURRENT ASSETS

Debtors

5

11,845

4,486

Cash at bank

89,762

93,037

101,607

97,523

CREDITORS

Amounts falling due within one year

6

(2,450

)

(2,426

)

NET CURRENT ASSETS

99,157

95,097

TOTAL ASSETS LESS CURRENT LIABILITIES

119,157

105,696

RESERVES

Revaluation reserve

7

9,401

-

Retained earnings

109,756

105,696

119,157

105,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 June 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 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.

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 Income and Expenditure Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2021 and were signed on its behalf by:

D G Claridge - Director

1.	STATUTORY INFORMATION

The Corney Reach Estate Management Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The principal activity of the company continued to be that of the management of the communal areas of the development at Corney Reach.

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

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.

TANGIBLE FIXED ASSETS

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:

Land and buildings Freehold Nil

FINANCIAL INSTRUMENTS

The company only enters into basic financial instrument transactions that results in the recognition of financial asset and liability such as trade and other debtors and creditors, loan from bank and other third parties, loan to related parties and investments in non puttable ordinary shares.

TAXATION

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

INCOME AND EXPENDITURE

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

GOING CONCERN

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST OR VALUATION

At 30 June 2019

10,599

Revaluations

9,401

At 29 June 2020

20,000

NET BOOK VALUE

At 29 June 2020

20,000

At 29 June 2019

10,599

Cost or valuation at 29 June 2020 is represented by:

Freehold

property

£

Valuation in 2020

20,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

10,370

3,030

Prepayments and accrued income

1,475

1,456

11,845

4,486

The directors consider the carrying value of trade and other receivables approximate to their fair values.

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Accruals and deferred income

2,450

2,426

The directors consider the carrying amounts of current liabilities approximate to their fair values.

7.

RESERVES

Revaluation

reserve

£

Revaluation reserve - PPE or

intangibles revaluation

9,401

At 29 June 2020

9,401

8.	POST BALANCE SHEET EVENTS

Since the year end, the Coronavirus (COVID-19) has emerged globally resulting in a significant impact on businesses worldwide. As a result some business operations have been restricted, however the company continues to operate using alternative methods and remote working. The directors are unable to evaluate the overall financial impact on the business at present. Hence financial statements do not include any adjustments that might result from the outcome of this uncertainty. The directors are continuing to monitor, assess and act to the current changing environment in order to position the company to ensure its future success.