Newton House (Lansdown Crescent) Management Company Limited - Period Ending 2018-03-31
Newton House (Lansdown Crescent) Management Company Limited - Period Ending 2018-03-31
Registration number:
Newton House (Lansdown Crescent) Management Company Limited
for the Year Ended 31 March 2018
Chartered Accountants
3 Bath Mews
Bath Parade
Cheltenham
Gloucestershire
GL53 7HL
Newton House (Lansdown Crescent) Management Company Limited
Contents
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Company Information |
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Directors' Report |
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Accountants' Report |
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Statement of Income and Expenditure |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Newton House (Lansdown Crescent) Management Company Limited
Company Information
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Directors |
S B Lavin R A Keyes A Burdett P Burdett N J Rodgers I J Seymour |
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Registered office |
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Accountants |
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Page 1 |
Newton House (Lansdown Crescent) Management Company 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 residential 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
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Director
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Page 2 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Newton House (Lansdown Crescent) Management Company 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 Newton House (Lansdown Crescent) Management Company Limited for the year ended 31 March 2018 as set out on pages 4 to 9 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 Newton House (Lansdown Crescent) Management Company 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 Newton House (Lansdown Crescent) Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Newton House (Lansdown Crescent) Management Company 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 Newton House (Lansdown Crescent) 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 Newton House (Lansdown Crescent) Management Company 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 profit of Newton House (Lansdown Crescent) Management Company Limited. You consider that Newton House (Lansdown Crescent) 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 accounts of Newton House (Lansdown Crescent) 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 accounts.
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Chartered Accountants
Bath Parade
Cheltenham
Gloucestershire
GL53 7HL
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Page 3 |
Newton House (Lansdown Crescent) Management Company Limited
Statement of Income and Expenditure for the Year Ended 31 March 2018
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Note |
2018 |
2017 |
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Turnover |
- |
- |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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10 |
12 |
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Profit before tax |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
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Page 4 |
Newton House (Lansdown Crescent) Management Company Limited
Statement of Comprehensive Income for the Year Ended 31 March 2018
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2018 |
2017 |
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Profit for the year |
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Total comprehensive income for the year |
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Page 5 |
Newton House (Lansdown Crescent) Management Company Limited
(Registration number: 01601574)
Balance Sheet as at 31 March 2018
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Note |
2018 |
2017 |
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Current assets |
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Debtors |
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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 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.
Approved and authorised by the
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Director
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Page 6 |
Newton House (Lansdown Crescent) Management Company Limited
Statement of Changes in Equity for the Year Ended 31 March 2018
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Share capital |
Profit and loss account |
Total |
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At 1 April 2017 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 March 2018 |
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Share capital |
Profit and loss account |
Total |
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At 1 April 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 March 2017 |
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Page 7 |
Newton House (Lansdown Crescent) Management Company 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:
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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.
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 debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
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Page 8 |
Newton House (Lansdown Crescent) Management Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2018
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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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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2018 |
2017 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2018 |
2017 |
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Due within one year |
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Accruals and deferred income |
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Page 9 |