The Spinnaker Quay Management Company Limited - Period Ending 2017-04-30

Registration number: 05420087

The Spinnaker Quay Management Company Limited Annual Report and Unaudited Financial Statements for the Year Ended 30 April 2017

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
PL4 6HH

The Spinnaker Quay Management Company Limited

Contents

Directors' Report	1
Balance Sheet	2
Notes to the Financial Statements	3 to 4

The Spinnaker Quay Management Company Limited

Directors' Report for the Year Ended 30 April 2017

The directors present their report and the financial statements for the year ended 30 April 2017.

Directors of the company

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

Dr R J Uncles

Mr J Neighbour (Resigned 8 September 2016)

Mr MB Summers

Mr T A R Knight

Mrs L A Summers

Mr S C Astbury (appointed 26 July 2016)

Mrs SL Neighbour (resigned 9 September 2016)

Mr P A Evitts (appointed 7 September 2016)

Principal activity

The principal activity of the company is the management of the communal areas within a small residential development of 22 private freehold properties

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 Board on 29 August 2017 and signed on its behalf by:

Mrs S A Knight
Company secretary

Dr R J Uncles
Director

Page 1

The Spinnaker Quay Management Company Limited

(Registration number: 05420087)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	-	45
Current assets
Debtors	5	500	500
Cash at bank and in hand		46,267	43,532
		46,767	44,032
Creditors: Amounts falling due within one year	6	(1,902)	(1,721)
Net current assets		44,865	42,311
Net assets		44,865	42,356
Capital and reserves
Other reserves		18,000	18,000
Profit and loss account		26,865	24,356
Total equity		44,865	42,356

For the financial year ending 30 April 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their 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 Board on 29 August 2017 and signed on its behalf by:
 

Dr R J Uncles

Director

The notes on pages 3 to 4 form an integral part of these financial statements.

Page 2

The Spinnaker Quay Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

The company is a company limited by guarantee incorporated in England and Wales.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2016 - 0).

Page 3

The Spinnaker Quay Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 May 2016	333	333
Disposals	(333)	(333)
At 30 April 2017	-	-
Depreciation
At 1 May 2016	288	288
Eliminated on disposal	(288)	(288)
At 30 April 2017	-	-
Carrying amount
At 30 April 2017	-	-
At 30 April 2016	45	45

5

Debtors

	2017 £	2016 £
Trade debtors	500	500
	500	500

6

Creditors

	Note	2017 £	2016 £
Due within one year
Other creditors		1,902	1,721

7	Company Status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute a maximum not exceeding £1 towards the assets of the company in the event of liquidation.

It has been agreed with HM Revenue and Customs that the company be treated as dormant for corporation tax purposes. However, the company is liable to income tax on its investment income at the prevailing rate.

Page 4