Priory (Folkestone Road) Management Ltd - Limited company accounts 16.3

REGISTERED NUMBER: 02291277 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

PRIORY (FOLKESTONE ROAD) MANAGEMENT

LIMITED

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P Whitington

M Wilkinson

REGISTERED OFFICE:

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

REGISTERED NUMBER:

02291277 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

Charlton House

Dour Street

DOVER

Kent

CT16 1BL

The directors present their report with the financial statements of the company for the year ended 31 March 2017.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the maintenance, cleanliness, insurance and

keeping in good order the common parts of the properties included in Priory House, 157 Folkestone Road, Dover, Kent.

The company has not traded in its own right and has received no income and incurred no expenditure during the current

or previous year. With the exception of £96 held in respect of share capital, all monies held in the company bank

account are held on trust for the leaseholders of Priory House and all transactions were entered into on behalf of the

leaseholders.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report.

P Whitington

M Wilkinson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P Whitington - Director

14 October 2017

TURNOVER

-

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Cash at bank

15,479

11,962

CREDITORS

Amounts falling due within one year

4

15,383

11,866

NET CURRENT ASSETS

96

TOTAL ASSETS LESS CURRENT
LIABILITIES

96

CAPITAL AND RESERVES

Called up share capital

5

96

SHAREHOLDERS' FUNDS

96

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 14 October 2017 and were signed on its behalf by:

P Whitington - Director

1.	STATUTORY INFORMATION

Priory (Folkestone Road) Management 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.

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 financial statements are presented in sterling which is the functional currency of the company.

The company has not traded in its own right and has received no income and incurred no expenditure during the

current or previous year. All transactions in the period were entered into on behalf of the leaseholders and

income and expenditure arising from these transactions are shown in a separate service charge statement which

does not form part of the statutory accounts of the company and is not filed at Companies House.

Changes in accounting policies

The principal accounting policies adopted in the preparation of the financial statements are set out below and

have remained unchanged from the previous year. These policies have been consistently applied to all years

presented unless otherwise stated.

These financial statements, for the year ended 31 March 2017, are the first financial statements that comply with

FRS 102 Section 1A "Small Entities". The date of transition is 1 April 2015.

The transition to FRS 102 Section 1A "Small Entities" has not resulted in any changes to the accounting policies

or to the opening equity and profit for the comparative period.

Bank account

At the year end £96 was held in the company's bank account in respect of issued share capital. All other monies

held in the company's bank account at the balance sheet date were held on trust for the leaseholders under

Section 42 of the Landlord and Tenant Act 1987.

Contractual commitments

The company contracts with third parties in its own name for the supply of services to the property for the

maintenance of the common parts in accordance with the terms of the leases. At the year end the company had

not entered into any non-cancellable contractual commitments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees and directors in the year was 2 (2 - 2016).

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Due to leaseholders

15,383

11,866

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

96

Ordinary

£1

96