ACCOUNTS - Final Accounts

CHIMNEYS LODGE MANAGEMENT COMPANY LIMITED - Company Information

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Registered number: 06712941

CHIMNEYS LODGE MANAGEMENT COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2020

CHIMNEYS LODGE MANAGEMENT COMPANY LIMITED

REGISTERED NUMBER: 06712941

BALANCE SHEET

AS AT 31 OCTOBER 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	1,591		-
Cash at bank and in hand	5	423		1,280
		2,014		1,280
Creditors: amounts falling due within one year	6	(2,000)		(1,266)
Net current assets			14		14
Total assets less current liabilities			14		14

Net assets			14		14

Capital and reserves
Called up share capital	14	14
	14	14

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 July 2021.

J E Dray

Director

The notes on pages 2 to 3 form part of these financial statements.

Page 1

CHIMNEYS LODGE MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

1.	General information

Chimneys Lodge Management Company Limited ("the Company") is a private company, limited by shares, registered in England and Wales, registration number 06712941. The registered office is Union Works, Farmer Road, Leyton, London, E10 5DJ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

CHIMNEYS LODGE MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2020

2.Accounting policies (continued)

2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

Debtors

					2020	2019
					£	£


Trade debtors	1,591	-
	1,591	-

5.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	423	1,280
	423	1,280

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Trade creditors	-	266
Other creditors	1,000	1,000
Accruals and deferred income	1,000	-
	2,000	1,266

7.	Controlling party

J E Dray, a director, is the ultimate controlling party.

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