ACCOUNTS - Final Accounts

FORMAN CLOSE MANAGEMENT COMPANY - Company Information

Caseware UK (AP4) 2014.0.91 2014.0.91 2017-01-312017-01-31150The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueto maintain the open space area of Forman Close and the maintenance of the pumping station.false2016-02-01 08872068 2016-02-01 2017-01-31 08872068 2015-02-01 2016-01-31 08872068 2017-01-31 08872068 2016-01-31 08872068 c:Director1 2016-02-01 2017-01-31 08872068 c:Director2 2016-02-01 2017-01-31 08872068 d:CurrentFinancialInstruments 2017-01-31 08872068 d:CurrentFinancialInstruments 2016-01-31 08872068 d:CurrentFinancialInstruments d:WithinOneYear 2017-01-31 08872068 d:CurrentFinancialInstruments d:WithinOneYear 2016-01-31 08872068 d:RetainedEarningsAccumulatedLosses 2017-01-31 08872068 d:RetainedEarningsAccumulatedLosses 2016-01-31 08872068 c:FRS102 2016-02-01 2017-01-31 08872068 c:AuditExempt-NoAccountantsReport 2016-02-01 2017-01-31 08872068 c:FullAccounts 2016-02-01 2017-01-31 08872068 c:PrivateLimitedCompanyLtd 2016-02-01 2017-01-31 08872068 d:EntityControlledByKeyManagementPersonnel1 2016-02-01 2017-01-31 08872068 d:EntityControlledByKeyManagementPersonnel1 2017-01-31 08872068 d:EntityControlledByKeyManagementPersonnel2 2016-02-01 2017-01-31 08872068 d:EntityControlledByKeyManagementPersonnel2 2017-01-31 iso4217:GBP xbrli:pure

Registered number: 08872068

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 08872068

BALANCE SHEET

AS AT 31 JANUARY 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	150		-
Cash at bank and in hand		1,334		995
		1,484		995
Creditors: amounts falling due within one year	5	(3,114)		(2,792)
Net current liabilities			(1,630)		(1,797)
Total assets less current liabilities			(1,630)		(1,797)

Net liabilities			(1,630)		(1,797)

Capital and reserves
Profit and loss account	(1,630)	(1,797)
	(1,630)	(1,797)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 August 2017.

................................................ Mrs A J Jones	................................................ Mr S Jones
Director	Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

1.	General information

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
It is both incorporated and domiciled in England and Wales. The address of its registered office is The Hammers Great Hockham Road, Shropham, Attleborough, Norfolk, NR17 1EB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements for the year ended 31 January 2017 are the company’s first financial statements that comply with FRS 102. The company’s date of transition to FRS 102 is 01 February 2015. The company’s last financial statements prepared in accordance with previous UK GAAP were for the year ended 31 January 2016.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have been consistently applied within the same accounts.
Information on the impact of first-time adoption of FRS 102 is given in note 8.

The following principal accounting policies have been applied:

2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Page 2

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 2 (2016 - 2).

Debtors

					2017	2016
					£	£


Trade debtors	150	-
	150	-

5.	Creditors: Amounts falling due within one year
		2017	2016
		£	£

Management charges in advance	737	470
Other creditors	1,777	1,722
Accruals and deferred income	600	600
	3,114	2,792


6.	Company status

Page 3

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

7.	Related party transactions
	As at 31 January 2017 the company owed S & A Jones Builders Ltd £1,766 (2016:£1,711) for expenses paid on the company's behalf. The directors are also directors of S & A Jones Builders Ltd. As at 31 January 2017 the company owed S & A Jones Developments Ltd £11 (2016:£11) for expenses paid on the company's behalf. The directors are also directors of S & A Jones Builders Ltd.

Page 4

FORMAN CLOSE MANAGEMENT COMPANY LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

8.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

Page 5