Beadnell H & C Management Company Limited 30/04/2023 iXBRL

Beadnell H & C Management Company Limited 30/04/2023 iXBRL

BEADNELL H & C MANAGEMENT COMPANY LIMITED - Company Information

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Company registration number: 08978264
Beadnell H & C Management Company Limited
Company limited by guarantee
Pages for filing with Registrar
30 April 2023
Beadnell H & C Management Company Limited
Company limited by guarantee
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Beadnell H & C Management Company Limited
Company limited by guarantee
Directors and other information
Directors Mr D Gray
Mr D Penn
Mr T Chanter
Mr C Smith
Secretary Mr T Chanter
Company number 08978264
Registered office Rydal Mount
Molesden
Morpeth
Northumberland
NE61 3QF
Accountants Stephenson Coates Limited
West 2, Asama Court
Newcastle Business Park
Newcastle upon Tyne
NE4 7YD
Beadnell H & C Management Company Limited
Company limited by guarantee
Accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Beadnell H & C Management Company Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beadnell H & C Management Company Limited for the year ended 30 April 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Beadnell H & C Management Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Beadnell H & C Management Company Limited and state those matters that we have agreed to state to the board of directors of Beadnell H & C 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 Beadnell H & C 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 Beadnell H & C Management Company 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 loss of Beadnell H & C Management Company Limited. You consider that Beadnell H & C 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 financial statements of Beadnell H & C 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 financial statements.
Stephenson Coates Limited
Accountant
West 2, Asama Court
Newcastle Business Park
Newcastle upon Tyne
NE4 7YD
8 August 2023
Beadnell H & C Management Company Limited
Company limited by guarantee
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Current assets
Cash at bank and in hand 16,868 19,157
_______ _______
16,868 19,157
Creditors: amounts falling due
within one year 5 ( 132) ( 132)
_______ _______
Net current assets 16,736 19,025
_______ _______
Total assets less current liabilities 16,736 19,025
_______ _______
Net assets 16,736 19,025
_______ _______
Capital and reserves
Profit and loss account 16,736 19,025
_______ _______
Members funds 16,736 19,025
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 08 August 2023 , and are signed on behalf of the board by:
Mr D Penn
Director
Company registration number: 08978264
Beadnell H & C Management Company Limited
Company limited by guarantee
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Rydal Mount, Molesden, Morpeth, Northumberland, NE61 3QF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
Every member of the company undertakes to contribute to the assets of the company, in the event of winding up, such amount as may be required not exceeding £1.
5. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 132 132
_______ _______