ACCOUNTS - Final Accounts

DOUBLEGATES MANAGEMENT COMPANY LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-242017-03-24The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalsefalseThe principal activity of the company during the period was the management of residential property known as Double Gates, Edgcumbe Road, St Austell, Cornwall.2016-03-25 05349996 2016-03-25 2017-03-24 05349996 2015-03-25 2016-03-24 05349996 2017-03-24 05349996 2016-03-24 05349996 2015-03-25 05349996 c:Director4 2016-03-25 2017-03-24 05349996 d:CurrentFinancialInstruments 2017-03-24 05349996 d:CurrentFinancialInstruments 2016-03-24 05349996 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-24 05349996 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-24 05349996 d:OtherMiscellaneousReserve 2016-03-25 2017-03-24 05349996 d:OtherMiscellaneousReserve 2017-03-24 05349996 d:OtherMiscellaneousReserve 2015-03-25 2016-03-24 05349996 d:OtherMiscellaneousReserve 2016-03-24 05349996 d:OtherMiscellaneousReserve 2015-03-25 05349996 d:RetainedEarningsAccumulatedLosses 2016-03-25 2017-03-24 05349996 d:RetainedEarningsAccumulatedLosses 2017-03-24 05349996 d:RetainedEarningsAccumulatedLosses 2015-03-25 2016-03-24 05349996 d:RetainedEarningsAccumulatedLosses 2016-03-24 05349996 d:RetainedEarningsAccumulatedLosses 2015-03-25 05349996 c:FRS102 2016-03-25 2017-03-24 05349996 c:AuditExempt-NoAccountantsReport 2016-03-25 2017-03-24 05349996 c:FullAccounts 2016-03-25 2017-03-24 05349996 c:PrivateLimitedCompanyLtd 2016-03-25 2017-03-24 iso4217:GBP xbrli:pure

Registered number: 05349996

DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 24 MARCH 2017

DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER:05349996

STATEMENT OF FINANCIAL POSITION

AS AT 24 MARCH 2017

		2017		2016
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	498		639
Cash at bank and in hand		21,646		16,539
		22,144		17,178
Creditors: amounts falling due within one year	5	(4,437)		(2,211)
Net current assets			17,707		14,967
Total assets less current liabilities			17,707		14,967

Net assets			17,707		14,967

Capital and reserves
Other reserves	13,462	11,787
Profit and loss account	4,245	3,180
	17,707	14,967

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 by:

Ms L J Daniel

Director

Date: 10 December 2017

The notes on pages 3 to 5 form part of these financial statements.

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DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 24 MARCH 2017

	Sinking Fund	Profit and loss account	Total equity
	£	£	£
At 25 March 2015	8,112	2,489	10,601

Profit for the year	-	691	691
Movement on other reserves	3,675	-	3,675

At 25 March 2016	11,787	3,180	14,967

Profit for the year	-	1,065	1,065
Movement on other reserves	1,675	-	1,675
At 24 March 2017	13,462	4,245	17,707

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DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 MARCH 2017

1.	General information

The company was incorporated and is registered in England.
The company's registered number is 05349996 and registered office is Chy Nyverow, Newham Road, Truro, Cornwall, TR1 2DP.
The company is a private limited company by guarantee without share capital.

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 use British Pounds Sterling as the presentation currency, and are rounded to the nearest £1 throughout.

The following principal accounting policies have been applied:

2.2

REVENUE

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 MARCH 2017

2.Accounting policies (continued)

2.5

CREDITORS

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.6

INTEREST INCOME

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 3 (2016: 4).

Debtors

					2017	2016
					£	£


Trade debtors	498	639
	498	639

5.	Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2017	2016
		£	£

Trade creditors	629	490
Other creditors	2,685	598
Accruals and deferred income	1,123	1,123
	4,437	2,211


6.	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 an amount not exceeding £1 towards the assets of the company in the event of liquidation.

7.	Controlling party

No individual or entity has control over the company.

Page 4

DOUBLEGATES MANAGEMENT COMPANY LIMITED

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 MARCH 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.

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