Sovereign Park (Harrogate) Management Co - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 03462071 (England and Wales)

SOVEREIGN PARK (HARROGATE) MANAGEMENT

COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R K Grange

Mr B J Madden

Mrs D Gaunt

Mr A S MacDonald

Mr G C Connolly

Mr M A Cooper

Mr R Rome

Mr M Thorne

SECRETARY:

DSC

REGISTERED OFFICE:

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

REGISTERED NUMBER:

03462071 (England and Wales)

ACCOUNTANTS:

DSC

Chartered Accountants

Tattersall House

East Parade

Harrogate

North Yorkshire

HG1 5LT

BANKERS:

HSBC Bank Plc

7 Prospect Crescent

Harrogate

North Yorkshire

HG1 1RN

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Debtors

5

1,626

122

Cash at bank

125,944

116,633

127,570

116,755

CREDITORS

Amounts falling due within one year

6

10,102

19,773

NET CURRENT ASSETS

117,468

96,982

TOTAL ASSETS LESS CURRENT LIABILITIES

117,469

96,983

PROVISIONS FOR LIABILITIES

7

115,103

94,617

NET ASSETS

2,366

2,366

CAPITAL AND RESERVES

Called up share capital

720

720

Capital reserve

10

10

Retained earnings

1,636

1,636

SHAREHOLDERS' FUNDS

2,366

2,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 April 2023 and were signed on its behalf by:

Mr R K Grange - Director

Mr A S MacDonald - Director

1.	STATUTORY INFORMATION

Sovereign Park (Harrogate) 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 (£).

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 represents service charges payable by leaseholders and estate rentcharges payable by leaseholders and freeholders.

Sinking funds

A separate sinking fund has been established for each of the three apartment blocks on the Sovereign Park estate, the estate as a whole, and for certain self-contained areas. The objective of each sinking fund is to spread the cost of periodic major expenditure over a period of years thereby spreading the burden and ensuring equity between different owners of the same property. The directors review the balance in each of the sinking funds each year.

Taxation

No liability to UK corporation tax arose on ordinary activities for the year ended 31 December 2022 nor for the year ended 31 December 2021.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2022

and 31 December 2022

1

NET BOOK VALUE

At 31 December 2022

1

At 31 December 2021

1

The freehold of the three apartment buildings and of the common parts of the estate known as Sovereign Park, Harrogate was transferred to the Company for a nominal consideration of £1 in July 2003.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

580

122

Other debtors

1,046

-

1,626

122

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

4,699

2,312

Accruals and deferred income

5,403

17,461

10,102

19,773

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Other provisions

Sinking funds

115,103

94,617

Sinking

Funds

£

Balance at 1 January 2022

94,617

Net increase during the year

20,486

Balance at 31 December 2022

115,103

8.	RETAINED SURPLUS

The Company's Memorandum and Articles of Association require that the income and property of the Company shall be applied solely towards the objects of the Company and that no part shall be paid or transferred directly or indirectly by way of dividend, bonus or any other means to a member or members of the company. Under the Company's Articles of Association the directors may set aside reasonable reserve funds.