Farrant Court Management Limited - Period Ending 2018-03-31
Farrant Court Management Limited - Period Ending 2018-03-31
Registration number:
Farrant Court Management Limited
for the Year Ended 31 March 2018
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS
Farrant Court Management Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Farrant Court Management Limited
Company Information
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Directors |
Mrs K Davies Mr A Velterop Mr L W Newnham |
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Company secretary |
Mr S I Jarrett |
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Registered office |
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Accountants |
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Page 1 |
Farrant Court Management Limited
Directors' Report for the Year Ended 31 March 2018
The directors present their report and the financial statements for the year ended 31 March 2018.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of property management
Small companies provision statement
This report has 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.
Approved by the Board on
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Mr S I Jarrett
Company secretary
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Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Farrant Court Management Limited
for the Year Ended 31 March 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Farrant Court Management Limited for the year ended 31 March 2018 as set out on pages 4 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Farrant Court Management Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Farrant Court Management Limited and state those matters that we have agreed to state to the Board of Directors of Farrant Court Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Farrant Court Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Farrant Court Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Farrant Court Management Limited. You consider that Farrant Court Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Farrant Court Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
Old Fore Street
Sidmouth
Devon
EX10 8LS
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Page 3 |
Farrant Court Management Limited
(Registration number: 2230341)
Balance Sheet as at 31 March 2018
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2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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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 March 2018 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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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.
Approved and authorised by the
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Mr L W Newnham
Director
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Page 4 |
Farrant Court Management Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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General information |
The company is a private company limited by share capital incorporated in United Kingdom.
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 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.
Bank, Cash and Other Assets
A statutory trust is placed over service charge monies received under section 42 of the Landlord and Tenant Act 1987 and the Residential Management Company acts as a trustee in this capacity.
The closing balance of cash and other assets held on trust by the Residential Management Company are £13,837.
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.
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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Page 5 |
Farrant Court Management Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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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 April 2017 |
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At 31 March 2018 |
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Depreciation |
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Carrying amount |
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At 31 March 2018 |
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At 31 March 2017 |
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Included within the net book value of land and buildings above is £1,167 (2017 - £1,167) in respect of freehold land and buildings.
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Debtors |
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2018 |
2017 |
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Other debtors |
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Total current trade and other debtors |
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Page 6 |