Blakespool Park Management Company Limited Company accounts

BLAKESPOOL PARK MANAGEMENT COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 2323758

Blakespool Park Management Company Limited

Unaudited Financial Statements

31 March 2018

Blakespool Park Management Company Limited

Financial Statements

Year ended 31 March 2018

Contents	Page

Officers and professional advisers	1

Directors' report	2

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	3

Statement of income and retained earnings	4

Statement of financial position	5

Notes to the financial statements	6

Blakespool Park Management Company Limited

Officers and Professional Advisers

The board of directors	K M Cox
	Mr P R Legg
	Mr A Mason

Company secretary	A Mason

Registered office	61 Macrae Road
	Pill
	Bristol
	BS20 0DD

Accountants	Elliott Bunker Limited
	Chartered Accountants
	61 Macrae Road
	Ham Green
	Bristol
	BS20 0DD

Blakespool Park Management Company Limited

Directors' Report

Year ended 31 March 2018

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2018 .

Directors

The directors who served the company during the year were as follows:

K M Cox
Mr P R Legg
Mr A Mason

Dividends

Due to the nature of the company's activities, no dividends are payable by the company.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 24 September 2018 and signed on behalf of the board by:

A Mason

Company Secretary

Registered office:

61 Macrae Road

Pill

Bristol

BS20 0DD

Blakespool Park Management Company Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Blakespool Park Management Company Limited

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 financial statements of Blakespool Park Management Company Limited for the year ended 31 March 2018, which comprise the statement of income and retained earnings, statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Blakespool Park Management Company Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Blakespool Park Management Company Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blakespool Park Management Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Blakespool Park Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Blakespool Park Management Company Limited. You consider that Blakespool Park Management Company 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 financial statements of Blakespool Park Management Company 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 financial statements.

Elliott Bunker Limited Chartered Accountants

61 Macrae Road Ham Green Bristol BS20 0DD

24 September 2018

Blakespool Park Management Company Limited

Statement of Income and Retained Earnings

Year ended 31 March 2018

	2018	2017
Note	£	£
Turnover	42,877	43,711

	--------	--------
Gross profit	42,877	43,711

Administrative expenses	51,486	38,241
	--------	--------
Operating (loss)/profit	( 8,609)	5,470

Interest receivable	4	15	15
		--------	--------
(Loss)/profit before taxation		( 8,594)	5,485

Taxation on ordinary activities	–	–
	-------	-------
(Loss)/profit for the financial year and total comprehensive income	( 8,594)	5,485
	-------	-------

Retained earnings at the start of the year	33,313	27,828
	--------	--------
Retained earnings at the end of the year	24,719	33,313
	--------	--------

All the activities of the company are from continuing operations.

Blakespool Park Management Company Limited

Statement of Financial Position

31 March 2018

	2018	2017
Note	£	£

Current assets

Debtors	6	4,829	6,249
Cash at bank and in hand		26,476	31,637
		--------	--------
		31,305	37,886

Creditors: amounts falling due within one year	7	6,511	4,498
		--------	--------
Net current assets		24,794	33,388
		--------	--------
Total assets less current liabilities		24,794	33,388
		--------	--------
Net assets		24,794	33,388
		--------	--------

Capital and reserves

Called up share capital	8	75	75
Profit and loss account		24,719	33,313
		--------	--------
Shareholders funds		24,794	33,388
		--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the 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:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 24 September 2018 , and are signed on behalf of the board by:

K M Cox	Mr P R Legg
Director	Director

Company registration number: 2323758

Blakespool Park Management Company Limited

Notes to the Financial Statements

Year ended 31 March 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 61 Macrae Road, Pill, Bristol, BS20 0DD.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Computer	-	25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Interest receivable

	2018	2017
	£	£
Interest on bank deposits	15	15
	----	----

5. Tangible assets

	Equipment
	£
Cost
At 1 April 2017 and 31 March 2018	1,014
	-------
Depreciation
At 1 April 2017 and 31 March 2018	1,014
	-------
Carrying amount
At 31 March 2018	–
	-------
At 31 March 2017	–
	-------

6. Debtors

	2018	2017
	£	£
Trade debtors	61	411
Other debtors	4,768	5,838
	-------	-------
	4,829	6,249
	-------	-------

7. Creditors: amounts falling due within one year

	2018	2017
	£	£
Other creditors	6,511	4,498
	-------	-------

8. Called up share capital

Issued, called up and fully paid

	2018		2017
	No	£	No	£
Ordinary shares of £ 1 each	75	75	75	75
	----	----	----	----

9. Related party transactions

During the year the following amounts were paid to directors of the company:

		2018	2017
		£	£

Kay Cox - administration services	2,400	2,400
Peter Legg T/A Property Management Services
Cleaning	5,520	5,320
Gardening	6,300	6,100
Repairs and maintenance	10,130	6,310

Annual service charges of £550 were received from each of the serving directors.