Barrows Mount Management Company Limited - Period Ending 2018-02-28

Registration number: 06121139

Barrows Mount Management Company Limited

Unaudited Financial Statements

for the Year Ended 28 February 2018

Four Fifty Partnership
Chartered Accountants
Bath Street
Cheddar
Somerset
BS27 3AA

Barrows Mount Management Company Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 5

Barrows Mount Management Company Limited

Company Information

Director

Miss Sarah Jayne Denbee

Company secretary

Mr Mark Anthony Mages

Registered office

c/o Four fifty Partnership Bath Street Cheddar Somerset BS27 3AA

Accountants

Four Fifty Partnership Chartered Accountants Bath Street Cheddar Somerset BS27 3AA

Page 1

Barrows Mount Management Company Limited

(Registration number: 06121139)
Balance Sheet as at 28 February 2018

	Note	2018 £	2017 £
Current assets
Debtors	3	818	750
Creditors: Amounts falling due within one year	4	(3,041)	(3,281)
Net liabilities		(2,223)	(2,531)
Capital and reserves
Profit and loss account		(2,223)	(2,531)
Total equity		(2,223)	(2,531)

For the financial year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her 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 director on 21 November 2018
 

Miss Sarah Jayne Denbee

Director

The notes on pages 3 to 5 form an integral part of these financial statements.

Page 2

Barrows Mount Management Company Limited

Notes to the Financial Statements for the Year Ended 28 February 2018

1	General information

The company is a , incorporated in England and Wales

The address of its registered office is:
c/o Four fifty Partnership
Bath Street
Cheddar
Somerset
BS27 3AA
England

These financial statements were authorised for issue by the director on 21 November 2018.

2	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.

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Barrows Mount Management Company Limited

Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)

2	Accounting policies (continued)

Going concern

The financial statements have been prepared on a going concern basis, which assumes the company will continue in operational existence for the foreseeable future. At 28 February 2017 the company had net current liabilities of £2,531 (2016 £4,388) and a net liabilities position of £2,531 (2016 £4,388). The director has considered the position of the company with respect to its obligations to ensure the business can continue in operational existence.

The director is of the opinion that there is no reason to believe that the continued support of the company's creditors will not be forthcoming as the company has always operated within the agreed terms.

On the basis of the above and all other information, the Director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustment that would result from the failure to achieve these assumptions.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

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Barrows Mount Management Company Limited

Notes to the Financial Statements for the Year Ended 28 February 2018 (continued)

3

Debtors

	2018 £	2017 £
Other debtors	818	750
	818	750

4

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Accruals and deferred income	373	613
Other creditors	2,668	2,668
	3,041	3,281

5	Related party transactions

Summary of transactions with other related parties

A creditor of £2,668 was owed to J Denbee, father of the Director, at the year end. The loan is interest free and repayable on demand.
 

Loans from related parties

2017	S Denbee £
At start of period	3,715
Repaid	(3,715)
At end of period	-

Terms of loans from related parties

The loan from the Director, Sarah Denbee, is interest free and repayable on demand.
 

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