Waterside Village (Lancaster) Management Company Limited - Period Ending 2021-09-30

Waterside Village (Lancaster) Management Company Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 5

Waterside Village (Lancaster) Management Company Limited

Company Information

Directors

Mr D Bradbury Mr N R S Lambert Mr D Ashman

Company secretary

Leasecare Limited

Registered office

Black Beck View Middleton Via Carnforth LA6 2NQ

Accountants

Harrison Salmon Associates Chartered Accountants 7 Towngate Leyland Lancashire PR25 2EN

Waterside Village (Lancaster) Management Company Limited

(Registration number: 04286660)
Balance Sheet as at 30 September 2021

	Note	2021 £	2020 £
Current assets
Debtors	4	22,815	16,559
Cash at bank and in hand		42,595	37,703
		65,410	54,262
Creditors: Amounts falling due within one year	5	(16,930)	(6,865)
Net assets		48,480	47,397
Capital and reserves
Profit and loss account		48,480	47,397
Shareholders' funds		48,480	47,397

For the financial year ending 30 September 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 29 June 2022 and signed on its behalf by:
 

.........................................

Mr D Ashman
Director

Waterside Village (Lancaster) Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
Black Beck View
Middleton
Via Carnforth
LA6 2NQ
Lancashire

The principal place of business is:
Waterside Village
Water Street
Lancaster
LA1 1AY

These financial statements were authorised for issue by the Board on 29 June 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The potential impacts of the Coronavirus pandemic have been considered and the Directors believe that the company's principle activity, investment choices and liquidity shelter it from much of the expected economic downturn and so continue to aopt the going concern basis of preperation.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Waterside Village (Lancaster) Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
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	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).

4

Debtors

	2021 £	2020 £
Trade debtors	20,602	13,321
Prepayments	2,213	3,238
	22,815	16,559

Waterside Village (Lancaster) Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2021

5

Creditors

Creditors: amounts falling due within one year

	2021 £	2020 £
Due within one year
Trade creditors	16,515	6,469
Accruals and deferred income	415	396
	16,930	6,865