Lilly Court (Kettering) Management Limited Company Accounts

Lilly Court (Kettering) Management Limited Company Accounts

LILLY COURT (KETTERING) MANAGEMENT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 05070856
LILLY COURT (KETTERING) MANAGEMENT LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 March 2017
LILLY COURT (KETTERING) MANAGEMENT LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2017
CONTENTS
PAGES
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3 to 4
LILLY COURT (KETTERING) MANAGEMENT LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
THE BOARD OF DIRECTORS
Mrs S M Conway
Mrs J Ward
COMPANY SECRETARY
Ms J Hicks
REGISTERED OFFICE
Perfecta Works
Bath Road
Kettering
Northamptonshire
NN16 8NQ
ACCOUNTANTS
Meadows & Co Limited
Chartered Accountants
Headlands House
1 Kings Court
Kettering Parkway
Kettering
NN15 6WJ
LILLY COURT (KETTERING) MANAGEMENT LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2017
2017
2016
Note
£
£
£
£
CURRENT ASSETS
Debtors
4
14,989
10,286
Cash at bank and in hand
7,062
7,443
--------
--------
22,051
17,729
CREDITORS: amounts falling due within one year
5
3,314
2,562
--------
--------
NET CURRENT ASSETS
18,737
15,167
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
18,737
15,167
--------
--------
NET ASSETS
18,737
15,167
--------
--------
CAPITAL AND RESERVES
Called up share capital
23
23
Profit and loss account
18,714
15,144
--------
--------
MEMBERS FUNDS
18,737
15,167
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 November 2017 , and are signed on behalf of the board by:
Mrs S M Conway Director
Company registration number: 05070856
LILLY COURT (KETTERING) MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2017
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Perfecta Works, Bath Road, Kettering, Northamptonshire, NN16 8NQ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 April 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
This represents amounts received from residents by way of contribution toward expenses.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.
4. DEBTORS
2017
2016
£
£
Trade debtors
13,782
9,079
Other debtors
1,207
1,207
--------
--------
14,989
10,286
--------
--------
5. CREDITORS: amounts falling due within one year
2017
2016
£
£
Trade creditors
202
202
Other creditors
3,112
2,360
-------
-------
3,314
2,562
-------
-------
6. TRANSITION TO FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 April 2015.
No transitional adjustments were required in equity or profit or loss for the year.