Victor Jackson Avenue (Poundbury) Management Company Limited - Period Ending 2022-11-30

Victor Jackson Avenue (Poundbury) Management Company Limited

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Profit and Loss Account	4
Balance Sheet	5
Statement of Changes in Equity	6
Notes to the Unaudited Financial Statements	7 to 8

Victor Jackson Avenue (Poundbury) Management Company Limited

Company Information

Director

C C Leach

Company secretary

Templehill Property Management Limited

Registered office

49 High West Street Dorchester Dorset DT1 1UT

Accountants

Edwards & Keeping Chartered Accountants Unity Chambers 34 High Street Dorchester Dorset DT1 1HA

Victor Jackson Avenue (Poundbury) Management Company Limited

Director's Report
for the Year Ended 30 November 2022

The director presents his report and the financial statements for the year ended 30 November 2022.

Directors of the company

The directors who held office during the year were as follows:

A T Osborne (ceased 31 January 2023)

C C Leach

Principal activity

The principal activity of the company is that of the provision of property management services.

Small companies provision statement

This report has 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.

Approved by the director on 3 June 2023 and signed on its behalf by:

Templehill Property Management Limited
Company secretary

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Victor Jackson Avenue (Poundbury) Management Company Limitedfor the Year Ended 30 November 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Victor Jackson Avenue (Poundbury) Management Company Limited for the year ended 30 November 2022 as set out on pages 4 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Victor Jackson Avenue (Poundbury) Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 18 February 2020. Our work has been undertaken solely to prepare for your approval the accounts of Victor Jackson Avenue (Poundbury) Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Victor Jackson Avenue (Poundbury) Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Victor Jackson Avenue (Poundbury) Management Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Victor Jackson Avenue (Poundbury) Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Victor Jackson Avenue (Poundbury) Management Company Limited. You consider that Victor Jackson Avenue (Poundbury) Management Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Victor Jackson Avenue (Poundbury) Management Company 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 accounts.

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High Street
Dorchester
Dorset
DT1 1HA

21 June 2023

Victor Jackson Avenue (Poundbury) Management Company Limited

Profit and Loss Account
for the Year Ended 30 November 2022

	2022   £	2021   £
Turnover	10,584	9,887
Administrative expenses	(6,947)	(7,554)
Operating profit	3,637	2,333
Profit before tax	3,637	2,333
Taxation	-	-
Profit for the financial year	3,637	2,333

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

Victor Jackson Avenue (Poundbury) Management Company Limited

(Registration number: 04585874)
Balance Sheet as at 30 November 2022

	Note	2022		2021
		£	£	£	£
Current assets
Debtors	4		1,685		4,703
Cash at bank and in hand			17,881		10,717
			19,566		15,420
Creditors: Amounts falling due within one year	5		(1,568)		(1,059)
Net assets			17,998		14,361
Capital and reserves
Called up share capital		6		6
Depreciation fund - communal		17,088		13,328
Depreciation fund - lift		904		1,027
Profit and loss account		-		-
		17,998		14,361
			17,998		14,361

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 3 June 2023
 

C C Leach Director

Victor Jackson Avenue (Poundbury) Management Company Limited

Statement of Changes in Equity
for the Year Ended 30 November 2022

	Share capital £	Depreciation fund - communal £	Depreciation fund - lift £	Profit and loss account £	Total £
At 1 December 2021	6	13,328	1,027	-	14,361
Profit for the year	-	-	-	3,637	3,637
Total comprehensive income	-	-	-	3,637	3,637
Transfers	-	3,760	(123)	(3,637)	-
At 30 November 2022	6	17,088	904	-	17,998

	Share capital £	Depreciation fund - communal £	Depreciation fund - lift £	Profit and loss account £	Total £
At 1 December 2020	6	11,346	676	-	12,028
Profit for the year	-	-	-	2,333	2,333
Total comprehensive income	-	-	-	2,333	2,333
Transfers	-	1,982	351	(2,333)	-
At 30 November 2021	6	13,328	1,027	-	14,361

Victor Jackson Avenue (Poundbury) Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
49 High West Street
Dorchester
Dorset
DT1 1UT
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

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.

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 residents for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.

Victor Jackson Avenue (Poundbury) Management Company Limited

Notes to the Unaudited Financial Statements
for the Year Ended 30 November 2022

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

4

Debtors

	2022 £	2021 £
Amounts due from lessees	1,685	3,501
Prepayments	-	1,202
	1,685	4,703

5

Creditors

	2022 £	2021 £
Due within one year
Other creditors	1,568	1,059