Parcway House Tenants Management Company Limited - Period Ending 2017-04-30

Parcway House Tenants Management Company Limited
(A company limited by guarantee)

Unaudited Dormant Financial Statements
Year Ended 30 April 2017

Registration number: 06418168

Parcway House Tenants Management Company Limited

Profit and Loss Account

Year Ended 30 April 2017

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

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

Page 1

Parcway House Tenants Management Company Limited

Balance Sheet

30 April 2017

	Note	2017 £	2016 £
Current assets
Cash at bank and in hand		180	180
Creditors: Amounts falling due within one year	3	(2,135)	(2,135)
Net liabilities		(1,955)	(1,955)
Capital and reserves
Profit and loss account		(1,955)	(1,955)
Total equity		(1,955)	(1,955)

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved and authorised by the Board on 30 January 2018 and signed on its behalf by:
 

.........................................

Mr R Long

Director

.........................................

Mrs K Long

Director

Company Registration Number: 06418168

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

Page 2

Parcway House Tenants Management Company Limited

Notes to the Financial Statements

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:
C/O Francis Clark LLP
North Quay House
Sutton Harbour
Plymouth
Devon
PL4 0RA

The principal place of business is:
Plas Maen
West Bay
Maenporth Road
Falmouth
Cornwall
TR11 5HP

These financial statements were authorised for issue by the Board on 30 January 2018.

2	Accounting policies

Trading status

The company was dormant and has not traded during the year.

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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS 102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS 102 as at 1 May 2015. There is no material impact on the reported financial position and performance.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. This depends on the continued financial support of the company's directors.

Page 3

Parcway House Tenants Management Company Limited

Notes to the Financial Statements

Year Ended 30 April 2017

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
 

3

Creditors

	2017 £	2016 £
Due within one year
Other creditors	2,135	2,135

4	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.

5	Transition to FRS 102

The company transitioned to FRS 102 from previously extant UK GAAP as at 1 May 2015.

There were no changes to the previously stated equity as at 1 May 2015 and 30 April 2016 or in the profit for the year ended 30 April 2016 as a result of the transition to FRS 102.

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