Hartsbourne Court Management Company Ltd - Period Ending 2018-01-31
Hartsbourne Court Management Company Ltd - Period Ending 2018-01-31
Registration number:
Hartsbourne Court Management Company Ltd
for the Year Ended 31 January 2018
Chartered Accountants
166 College Road
Harrow
Middlesex
HA1 1BH
Hartsbourne Court Management Company Ltd
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Hartsbourne Court Management Company Ltd
Company Information
Directors |
Mrs Hilary Jean Burns Mr Charles Ernest Bernitz Mr Geoffrey Rabbow |
Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hartsbourne Court Management Company Ltd
for the Year Ended 31 January 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hartsbourne Court Management Company Ltd for the year ended 31 January 2018 as set out on pages 3 to 7 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 Hartsbourne Court Management Company Ltd, 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 Hartsbourne Court Management Company Ltd and state those matters that we have agreed to state to the Board of Directors of Hartsbourne Court Management Company Ltd, 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 Hartsbourne Court Management Company Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Hartsbourne Court Management Company Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Hartsbourne Court Management Company Ltd. You consider that Hartsbourne Court Management Company Ltd 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 Hartsbourne Court Management Company Ltd. 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
Harrow
Middlesex
HA1 1BH
Page 2 |
Hartsbourne Court Management Company Ltd
(Registration number: 09964621)
Balance Sheet as at 31 January 2018
Note |
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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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Profit and loss account |
( |
( |
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Total equity |
( |
( |
For the financial year ending 31 January 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.
Page 3 |
Hartsbourne Court Management Company Ltd
(Registration number: 09964621)
Balance Sheet as at 31 January 2018
Approved and authorised by the
.........................................
Mrs Hilary Jean Burns
Director
.........................................
Mr Charles Ernest Bernitz
Director
.........................................
Mr Geoffrey Rabbow
Director
Page 4 |
Hartsbourne Court Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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.
Tangible assets
Hartsbourne Court Management Company Limited acquired the interest in freehold land on 13 July 2016
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.
Page 5 |
Hartsbourne Court Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
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.
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 February 2017 |
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At 31 January 2018 |
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Depreciation |
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Carrying amount |
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At 31 January 2018 |
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At 31 January 2017 |
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Included within the net book value of land and buildings above is £144,000 (2017 - £144,000) in respect of freehold land and buildings.
Debtors |
2018 |
2017 |
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Other debtors |
- |
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- |
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Page 6 |
Hartsbourne Court Management Company Ltd
Notes to the Financial Statements for the Year Ended 31 January 2018
Creditors |
Creditors: amounts falling due within one year
2018 |
2017 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
2018 |
2017 |
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Due after one year |
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Other non-current financial liabilities |
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Related party transactions |
During the year, the company made the following related party transactions:
Directors
During the year, the Directors received further loans of £1,423 and repaid £578. Interest was charged at an annual rate of 2.5%. At the balance sheet date, the amount due to the Director was £247 (2017: £1,092).
Page 7 |