ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

COOLHURST PROPERTY MANAGEMENT LIMITED - Company Information

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Caseware UK (AP4) 2020.0.247 2020.0.247 2020-03-01trueNo description of principal activityfalse910trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03026692 2020-03-01 2021-02-28 03026692 2019-03-01 2020-02-29 03026692 2021-02-28 03026692 2020-02-29 03026692 c:Director10 2020-03-01 2021-02-28 03026692 c:Director11 2020-03-01 2021-02-28 03026692 d:CurrentFinancialInstruments 2021-02-28 03026692 d:CurrentFinancialInstruments 2020-02-29 03026692 d:CurrentFinancialInstruments d:WithinOneYear 2021-02-28 03026692 d:CurrentFinancialInstruments d:WithinOneYear 2020-02-29 03026692 d:OtherMiscellaneousReserve 2021-02-28 03026692 d:OtherMiscellaneousReserve 2020-02-29 03026692 d:RetainedEarningsAccumulatedLosses 2021-02-28 03026692 d:RetainedEarningsAccumulatedLosses 2020-02-29 03026692 c:FRS102 2020-03-01 2021-02-28 03026692 c:AuditExemptWithAccountantsReport 2020-03-01 2021-02-28 03026692 c:FullAccounts 2020-03-01 2021-02-28 03026692 c:CompanyLimitedByGuarantee 2020-03-01 2021-02-28 iso4217:GBP xbrli:pure

Registered number: 03026692










Coolhurst Property Management Limited
(A Company Limited by Guarantee)








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 28 February 2021




 
Coolhurst Property Management Limited
 
(A Company Limited by Guarantee)
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Coolhurst Property Management Limited for the Year Ended 28 February 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Coolhurst Property Management Limited for the year ended 28 February 2021 which comprise  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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Coolhurst Property Management Limited, as a body, in accordance with the terms of our engagement letter dated 2 July 2020. Our work has been undertaken solely to prepare for your approval the financial statements of Coolhurst Property Management Limited  and state those matters that we have agreed to state to the Board of Directors of Coolhurst Property Management Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Coolhurst Property Management Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Coolhurst Property Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Coolhurst Property Management Limited. You consider that Coolhurst Property Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Coolhurst Property Management 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 statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
29 November 2021
Page 1
 
Coolhurst Property Management Limited
 
(A Company Limited by Guarantee)
Registered number: 03026692

Balance Sheet
As at 28 February 2021

28 February
29 February
2021
2020
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
1,708
-

Cash at bank and in hand
  
13,066
7,930

  
14,774
7,930

Creditors: amounts falling due within one year
 5 
(383)
(383)

Net current assets
  
 
 
14,391
 
 
7,547

Total assets less current liabilities
  
14,391
7,547

  

Net assets
  
14,391
7,547


Capital and reserves
  

Other reserves
  
7,000
7,000

Profit and loss account
  
7,391
547

  
14,391
7,547


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 profit and loss account 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 by: 


................................................
S Whapshott
................................................
I F Spreadbury
Director
Director


Date: 24 November 2021

The notes on pages 3 to 4 form part of these financial statements.

Page 2
 
Coolhurst Property Management Limited

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2021

1.


General information

The company is a private company limited by guarantee incorporated in England and Wales. The registered office is Pitch Corner, Manor Lane, Horsham, West Sussex, RH13 6PL.

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.

These financial statements are presented in sterling and are rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Income

Subscription income represents amounts receivable from the members during the financial year for the purpose of providing monies to fund anticipated maintenance costs relating to common areas of the former St John's College, Coolhurst, West Sussex, as set out in the company's Memorandum and Articles of Association. The subscription income was derived from the company's principal activity which was carried out entirely in the UK.

  
2.3

Direct costs

Direct costs are the maintenance costs incurred during the financial year.

  
2.4

Manor Lane and Copperfields reserve

The directors consider that it is appropriate to make transfers to a designated reserve to reflect the likely future liabilities for maintenance of Manor Lane and Copperfields.

 
2.5

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.

 
2.6

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 3
 
Coolhurst Property Management Limited

(A Company Limited by Guarantee)
 

 
Notes to the Financial Statements
For the Year Ended 28 February 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2020 - 10).


4.


Debtors

28 February
29 February
2021
2020
£
£


Trade debtors
1,708
-

1,708
-



5.


Creditors: Amounts falling due within one year

28 February
29 February
2021
2020
£
£

Accruals and deferred income
383
383

383
383




6.


Company status

The company is a private company limited by guarantee 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.


Page 4