67 Foyle Road Management Company Ltd - Period Ending 2017-12-31
67 Foyle Road Management Company Ltd - Period Ending 2017-12-31
Registration number:
67 Foyle Road Management Company Ltd
for the Year Ended 31 December 2017
Accountants & Business Advisors
237 Westcombe Hill
Blackheath
London
SE3 7DW
67 Foyle Road Management Company Ltd
Contents
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Company Information |
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Accountants' Report |
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Abridged Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
67 Foyle Road Management Company Ltd
Company Information
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Directors |
Mr S Birch Dr R N Gauntlett Mr R A Henderson Mr B J Humphries |
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Company secretary |
Mr S Birch |
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Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
67 Foyle Road Management Company Ltd
for the Year Ended 31 December 2017
In accordance with your instructions, we have prepared the statutory accounts your approval for the year ended 31 December 2017 as set out on pages 3 to 6 from the company's accounting records and on the basis of information and explanations you have given to us.
You consider that 67 Foyle Road Management Company Ltd is exempt from an audit for the year ended 31 December 2017. You have acknowledged, on the balance sheet, your responsibilities for ensuring that the company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the statutory accounts that give a true and fair view of the state of affairs of the company and of its profit for the financial year.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these financial statements.
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Accountants & Business Advisors
Blackheath
London
SE3 7DW
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Page 2 |
67 Foyle Road Management Company Ltd
(Registration number: 01764642)
Abridged Balance Sheet as at 31 December 2017
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Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Page 3 |
67 Foyle Road Management Company Ltd
Statement of Changes in Equity for the Year Ended 31 December 2017
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Share capital |
Profit and loss account |
Total |
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At 1 January 2017 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 December 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 January 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 December 2016 |
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Page 4 |
67 Foyle Road Management Company Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 December 2017
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General information |
The company is a private company limited by share capital, incorporated in England .
The address of its registered office is:
These financial statements were authorised for issue by the
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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 abridged 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 abridged 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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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:
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Asset class |
Depreciation method and rate |
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Freehold Property |
0% |
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Page 5 |
67 Foyle Road Management Company Ltd
Notes to the Abridged Financial Statements for the Year Ended 31 December 2017
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 January 2017 |
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At 31 December 2017 |
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Depreciation |
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Carrying amount |
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At 31 December 2017 |
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At 31 December 2016 |
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Included within the net book value of land and buildings above is £1,440 (2016 - £1,440) in respect of freehold land and buildings.
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Share capital |
Allotted, called up and fully paid shares
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2017 |
2016 |
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No. |
£ |
No. |
£ |
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3 |
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3 |
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Page 6 |