7 Gloucester Street Management Limited Filleted accounts for Companies House (small and micro)

7 Gloucester Street Management Limited Filleted accounts for Companies House (small and micro)

7 GLOUCESTER STREET MANAGEMENT LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements
All of the members of 7 Gloucester Street Management Limited have consented to the preparation of the abridged statement of financial position for the year ending 31 March 2018 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 04391438
7 Gloucester Street Management Limited
Company Limited by Guarantee
Filleted Unaudited Abridged Financial Statements
31 March 2018
7 Gloucester Street Management Limited
Company Limited by Guarantee
Abridged Financial Statements
Year ended 31 March 2018
Contents
Page
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
1
Abridged statement of financial position
2
Notes to the abridged financial statements
3
7 Gloucester Street Management Limited
Company Limited by Guarantee
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of 7 Gloucester Street Management 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 abridged financial statements of 7 Gloucester Street Management Limited for the year ended 31 March 2018, which comprise the abridged 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 7 Gloucester Street Management Limited, as a body. Our work has been undertaken solely to prepare for your approval the abridged financial statements of 7 Gloucester Street Management 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 7 Gloucester Street Management Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that 7 Gloucester Street Management Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 7 Gloucester Street Management Limited. You consider that 7 Gloucester Street Management 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 abridged financial statements of 7 Gloucester Street Management 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 abridged financial statements.
MOORE GREEN Chartered accountant
22 Friars Street Sudbury Suffolk CO10 2AA
19 December 2018
7 Gloucester Street Management Limited
Company Limited by Guarantee
Abridged Statement of Financial Position
31 March 2018
2018
2017
Note
£
£
£
Fixed assets
Tangible assets
5
1
1
Current assets
Cash at bank and in hand
2,567
3,575
Creditors: amounts falling due within one year
2,566
3,574
-------
-------
Net current assets
1
1
----
----
Total assets less current liabilities
2
2
----
----
Net assets
2
2
----
----
Capital and reserves
Profit and loss account
2
2
----
----
Members funds
2
2
----
----
These abridged financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
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 abridged 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 abridged financial statements .
These abridged financial statements were approved by the board of directors and authorised for issue on 17 December 2018 , and are signed on behalf of the board by:
A F Magauran
Director
Company registration number: 04391438
7 Gloucester Street Management Limited
Company Limited by Guarantee
Notes to the Abridged Financial Statements
Year ended 31 March 2018
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.
2. Statement of compliance
These abridged 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 abridged 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 abridged 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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Tangible assets
Freehold land and buildings are not included at valuation and nor are they depreciated, both of which are not in accordance with FRS102(1A). The freehold land and buildings value is considered to be £1 as the true value lies within the leasehold of each individual property of which there are four held on 999 year leases. The leaseholds are not held in the company.
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.
4. Company limited by guarantee
The company has no share capital as it is limited by guarantee.
5. Tangible assets
£
Cost
At 1 April 2017 and 31 March 2018
1
----
Depreciation
At 1 April 2017 and 31 March 2018
–
----
Carrying amount
At 31 March 2018
1
----
At 31 March 2017
1
----
6. Directors' advances, credits and guarantees
There are no such transactions for the accounting period.