Sovereign Park (Harrogate) Management Co - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 03462071 (England and Wales)

SOVEREIGN PARK (HARROGATE) MANAGEMENT

COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P T Conway

J S Ellison

R K Grange

R Kidd

B J Madden

D K Mason

Mrs E McClea

S A Mitchell

J N Rabson

Mrs M Simon

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

3

1

1

CURRENT ASSETS

Debtors

4

629

156

Cash at bank

146,766

136,309

147,395

136,465

CREDITORS

Amounts falling due within one year

5

2,489

5,392

NET CURRENT ASSETS

144,906

131,073

TOTAL ASSETS LESS CURRENT LIABILITIES

144,907

131,074

PROVISIONS FOR LIABILITIES

6

142,541

128,708

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 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 May 2017 and were signed on its behalf by:

Mrs M Simon - Director

R Kidd - 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The date of transition to FRS 102 was 1 January 2015. The policies applied under the previous accounting

framework are not materially different to FRS 102 and have not impacted on reserves or net income and

expenditure for the year.

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 2016 nor for the

year ended 31 December 2015.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 January 2016

and 31 December 2016

1

NET BOOK VALUE

At 31 December 2016

1

At 31 December 2015

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.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

629

156

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

630

2,748

Other creditors

1,859

2,644

2,489

5,392

6.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Other provisions

Sinking funds

142,541

128,708

Sinking

Funds

£

Balance at 1 January 2016

128,708

Net additions during the year

13,833

Balance at 31 December 2016

142,541

7.	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.