Sparrows Row Management Limited - Limited company accounts 18.2

Sparrows Row Management Limited - Limited company accounts 18.2

SPARROWS ROW MANAGEMENT LIMITED - Company Information

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REGISTERED NUMBER: 09518058 (England and Wales)















DIRECTORS' REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

Sparrows Row Management Limited
Sparrows Row Management Limited (Registered number: 09518058)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2018




Page

Company Information 1

Directors' Report 2 to 3

Report of the Accountants 4

Statement of Income and Retained Earnings 5

Balance Sheet 6

Notes to the Financial Statements 7 to 8


Sparrows Row Management Limited

COMPANY INFORMATION
for the year ended 31 March 2018







Directors: M Gray
P Gray
C N Clark
N R Clark
R M Clark
G A Stovold
A W Tomes





Registered office: Andrew Tomes
Higher Shippen
Kelland Hill
Lapford
Crediton
EX17 6AG





Registered number: 09518058 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY
Page 1
Sparrows Row Management Limited (Registered number: 09518058)

DIRECTORS' REPORT
for the year ended 31 March 2018

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

Directors
The directors shown below have held office during the whole of the period from 1 April 2017 to the
date of this report.

M Gray
P Gray

Other changes in directors holding office are as follows:

C N Clark - appointed 8 August 2017
N R Clark - appointed 8 August 2017
R M Clark - appointed 8 August 2017
B Holman - appointed 8 August 2017 - resigned 1 September 2017
G A Stovold - appointed 8 August 2017
A W Tomes - appointed 8 August 2017

Statement of directors' responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in
accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under
that law the directors have elected to prepare the financial statements in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and
applicable law). Under company law the directors must not approve the financial statements unless
they are satisfied that they give a true and fair view of the state of affairs of the company and of
the profit or loss of the company for that period. In preparing these financial statements, the
directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show
and explain the company's transactions and disclose with reasonable accuracy at any time the
financial position of the company and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the assets of the
company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.


Page 2
Sparrows Row Management Limited (Registered number: 09518058)

DIRECTORS' REPORT
for the year ended 31 March 2018

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act
2006 relating to small companies.

On behalf of the board:





A W Tomes - Director


10 August 2018

Page 3
Sparrows Row Management Limited

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
SPARROWS ROW MANAGEMENT LIMITED


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for
your approval the financial statements of the company for the year ended 31 March 2018 which
comprise the profit and loss account, balance sheet and the related notes from the company's
accounting records and from information and explanations you have given to 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/membership/regulations-standard-and-guidance as part of the ICAEW's
regulations and guidance.

This report is made solely to the directors of the company in accordance with our terms of
engagement. Our work has been undertaken solely to prepare for your approval the financial
statements of the company and state those matters that we have agreed to state to you in this
report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by
law, we do not accept or assume responsibility to anyone other than the company and its directors
for our work or for this report.

It is your duty to ensure that the company 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 results of the company. You consider that the company 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 the
company. For this reason, we have not verified the accuracy or completeness of the accounting
records or information you have given to us and we do not, therefore, express any opinion on the
statutory financial statements.






Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY


12 November 2018

This page does not form part of the statutory financial statements

Page 4
Sparrows Row Management Limited (Registered number: 09518058)

STATEMENT OF INCOME AND RETAINED EARNINGS
for the year ended 31 March 2018

2018 2017
Notes £    £   

Turnover 8,820 8,280

Administrative expenses 6,780 4,383
Operating profit and
Profit before taxation 2,040 3,897

Tax on profit - -
Profit for the financial year 2,040 3,897

Profit and loss account at beginning
of year
5,806
1,909

Profit and loss account at end of
year
7,846
5,806

The notes form part of these financial statements

Page 5
Sparrows Row Management Limited (Registered number: 09518058)

BALANCE SHEET
31 March 2018

2018 2017
Notes £    £   
Fixed assets
Tangible assets 3 - -

Current assets
Debtors 4 1,882 1,702
Cash at bank 6,588 4,415
8,470 6,117
Creditors
Amounts falling due within one year 5 624 311
Net current assets 7,846 5,806
Total assets less current liabilities 7,846 5,806

Reserves
Profit and loss account 7,846 5,806
7,846 5,806

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 profit or loss 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 August 2018 and were
signed on its behalf by:





C N Clark - Director


The notes form part of these financial statements

Page 6
Sparrows Row Management Limited (Registered number: 09518058)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2018

1. STATUTORY INFORMATION

Sparrows Row Management 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.

Turnover
Turnover represents amounts receivable in respect of management fees for maintenance of
communal areas of the property.

Taxation
This represents the charge to corporation tax on interest on bank deposits during the period.
As the company's activities are those of mutual trading, there is no liability to corporation tax
on other income.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Loans and other financial liabilities are initially recognised at transaction price net of any
transaction costs and subsequently measured at amortised cost determined using the
effective interest method.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price),
less any impairment losses for bad and doubtful debts. Loans and other financial assets are
initially recognised at transaction price including any transaction costs and subsequently
measured at amortised cost determined using the effective interest method, less any
impairment losses for bad and doubtful debts.

3. TANGIBLE FIXED ASSETS

The company held no fixed assets at the balance sheet date.

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other debtors 1,882 1,702

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Other creditors 624 311

Page 7 continued...
Sparrows Row Management Limited (Registered number: 09518058)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2018

6. COMPANY STATUS

The members of the company have undertaken to contribute to the assets of the company in
the event of it being wound up whilst they are still members, or within one year afterwards for
the payment of debts and liabilities of the company contracted before they cease to be
members and the costs, charges and expenses of winding up and for the adjustment of the
rights of contributing among themselves, such amounts as may be requjired not exceeding
£1.

Page 8