Quayside (Weymouth) Management Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03584160

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Quayside (Weymouth) Management Co Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M T Figg

C. Fryer

C Clifford

S P Burke

REGISTERED OFFICE:

14a Albany Road

Weymouth

Dorset

DT4 9TH

REGISTERED NUMBER:

03584160

ACCOUNTANTS:

Advoco

Chartered Certified Accountants

Chartered Tax Advisers

14a Albany Road

Weymouth

Dorset

DT4 9TH

FIXED ASSETS

Tangible assets

4

504

592

CURRENT ASSETS

Debtors

11,264

7,642

Cash at bank and in hand

122,761

160,727

134,025

168,369

CREDITORS

Amounts falling due within one year

14,870

1,218

NET CURRENT ASSETS

119,155

167,151

TOTAL ASSETS LESS CURRENT LIABILITIES

119,659

167,743

RESERVES

Retained earnings

119,659

167,743

119,659

167,743

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 6 May 2022 and were signed on its behalf by:

M T Figg - Director

1.	STATUTORY INFORMATION

Quayside (Weymouth) Management Co Ltd is a private company, limited by shares , registered in Not specified/Other. 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

-

15% on reducing balance

Taxation

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

Current or deferred 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

and 31 December 2021

15,635

DEPRECIATION

At 1 January 2021

15,043

Charge for year

88

At 31 December 2021

15,131

NET BOOK VALUE

At 31 December 2021

504

At 31 December 2020

592

The Company owns the freehold of 1 - 37 Quayside Court and 10 - 22 West Street Weymouth which it aquired at nil value.

5.	OTHER FINANCIAL COMMITMENTS

The reserves at the end of the financial year were £119,659

£31,979 is held in reserves for the external redecoration.

A further £34,229 is held in reserve as a longer term sinking fund.

The remaining £53,451 is a general reserve.

The bank balance at the year end was £122,697. The Directors consider that this will cover any forthcoming expenditure over the next year.