Dixwell House Management Company Limited - Period Ending 2017-03-31

Registration number: 05385917

Dixwell House Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2017

Beresfords
Chartered Accountants
Castle House
Castle Hill Avenue
Folkestone
Kent
CT20 2TQ

Dixwell House Management Company Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3 to 4
Notes to the Financial Statements	5 to 6

Dixwell House Management Company Limited

Company Information

Director

Mr RD Baker

Company secretary

Mrs M Laramy

Registered office

Unit 13 The Glenmore Centre Shearway Business Park Folkestone Kent CT19 4RJ

Accountants

Beresfords Chartered Accountants Castle House Castle Hill Avenue Folkestone Kent CT20 2TQ

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Dixwell House Management Company Limited
for the Year Ended 31 March 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Dixwell House Management Company Limited for the year ended 31 March 2017 as set out on pages 3 to 6 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 Dixwell House 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 accounts of Dixwell House Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Dixwell House 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 Dixwell House 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 Dixwell House 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 Dixwell House Management Company Limited. You consider that Dixwell House 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 Dixwell House 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.

......................................

Beresfords
Chartered Accountants
Castle House
Castle Hill Avenue
Folkestone
Kent
CT20 2TQ

3 July 2017

Page 2

Dixwell House Management Company Limited

(Registration number: 05385917)
Balance Sheet as at 31 March 2017

	Note	2017 £	2016 £
Fixed assets
Investment property	3	9,042	18,084
Current assets
Debtors	4	40	43
Cash at bank and in hand		31,763	19,515
		31,803	19,558
Creditors: Amounts falling due within one year	5	(36,150)	(36,075)
Net current liabilities		(4,347)	(16,517)
Net assets		4,695	1,567
Capital and reserves
Called up share capital		1	1
Profit and loss account		4,694	1,566
Total equity		4,695	1,567

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 3

Dixwell House Management Company Limited

(Registration number: 05385917)
Balance Sheet as at 31 March 2017

For the financial year ending 31 March 2017 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 28 June 2017
 

.........................................

Mr RD Baker

Director

The notes on pages 5 to 6 form an integral part of these financial statements.

Page 4

Dixwell House Management Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

1	General information

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

The address of its registered office is:
Unit 13
The Glenmore Centre
Shearway Business Park
Folkestone
Kent
CT19 4RJ

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 5

Dixwell House Management Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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	Investment properties

	2017 £
At 1 April	18,084
Disposals	(9,042)
At 31 March	9,042

There has been no valuation of investment property by an independent valuer.

4

Debtors

	2017 £	2016 £
Trade debtors	-	2
Other debtors	40	41
Total current trade and other debtors	40	43

5

Creditors

	Note	2017 £	2016 £
Due within one year
Other creditors		36,150	36,075

Page 6