Wheatley Close Management Company Ltd - Accounts to registrar (filleted) - small 18.2

WHEATLEY CLOSE MANAGEMENT COMPANY

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Ms C Butterworth

Mrs A M Palmer

Ms G M Wilkinson

SECRETARY:

A D Earnshaw

REGISTERED OFFICE:

C/O Wilkinson and Partners

Moors House

11 South Hawksworth Street

Ilkley

West Yorkshire

LS29 9DX

REGISTERED NUMBER:

06358063 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Moors House

11 South Hawksworth Street

Ilkley

West Yorkshire

LS29 9DX

CURRENT ASSETS

Debtors

3

1,297

936

Cash at bank

5,435

9,980

6,732

10,916

CREDITORS

Amounts falling due within one year

4

4,255

4,301

NET CURRENT ASSETS

2,477

6,615

TOTAL ASSETS LESS CURRENT LIABILITIES

2,477

6,615

RESERVES

Income and expenditure account

2,477

6,615

2,477

6,615

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 surplus or deficit 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 23rd July 2018 and were signed on its behalf by:

Mrs A M Palmer - Director

1.	STATUTORY INFORMATION

Wheatley Close Management Company Limited is a private company, limited by guarantee , 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.

Contributions charged to leaseholders

Contributions charged to residents represent amounts receivable as payments on account of the costs of

managing and administering the property. A net surplus at the end of an accounting period is applied against

future costs and a net deficiency is recoverable from the residents.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different

from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and

laws that have been enacted or substantively enacted by the year end and that are expected to apply to the

reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Due from residents

790

406

Prepayments

507

530

1,297

936

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Due to residents

3,660

2,720

Accrued expenses

595

1,581

4,255

4,301

5.	LIMITED BY GUARANTEE

The company is limited by guarantee and therefore has no share capital. In the event of the company being

wound up, the liability of its members is restricted to £1 each.