Berkeley Square (Clifton) Management Company Limited - Period Ending 2018-03-31

Registration number: 06525073

Berkeley Square (Clifton) Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Henry and Banwell Limited
Chartered Accountants
26 Berkeley Square
Clifton
Bristol
BS8 1HP

Berkeley Square (Clifton) Management Company Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6

Berkeley Square (Clifton) Management Company Limited

Company Information

Directors

N J Slater P D Suggitt M P Winkelmann

Company secretary

N J Slater

Registered office

25-26 Berkeley Square Clifton Bristol BS8 1HP

Accountants

Henry and Banwell Limited Chartered Accountants 26 Berkeley Square Clifton Bristol BS8 1HP

Page 1

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Berkeley Square (Clifton) 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 Berkeley Square (Clifton) Management Company Limited for the year ended 31 March 2018 as set out on pages 3 to 6 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 Berkeley Square (Clifton) 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 Berkeley Square (Clifton) Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Berkeley Square (Clifton) 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 Berkeley Square (Clifton) 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 Berkeley Square (Clifton) 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 Berkeley Square (Clifton) Management Company Limited. You consider that Berkeley Square (Clifton) 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 Berkeley Square (Clifton) 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.

......................................

Henry and Banwell Limited
Chartered Accountants
26 Berkeley Square
Clifton
Bristol
BS8 1HP

15 October 2018

Page 2

Berkeley Square (Clifton) Management Company Limited

(Registration number: 06525073)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Investment property	3	32,892	32,892
Current assets
Debtors	4	6,793	62,270
Cash at bank and in hand		28,054	6,832
		34,847	69,102
Creditors: Amounts falling due within one year	5	(37,362)	(98,396)
Net current liabilities		(2,515)	(29,294)
Total assets less current liabilities		30,377	3,598
Provisions for liabilities		(28,234)	(2,950)
Net assets		2,143	648
Capital and reserves
Called up share capital		6	6
Profit and loss account		2,137	642
Total equity		2,143	648

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:

•	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 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.

Approved and authorised by the Board on 15 October 2018 and signed on its behalf by:
 

.........................................

M P Winkelmann

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Berkeley Square (Clifton) Management Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
25-26 Berkeley Square
Clifton
Bristol
BS8 1HP
England

These financial statements were authorised for issue by the Board on 15 October 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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 4

Berkeley Square (Clifton) Management Company Limited

Notes to the Financial Statements for the Year Ended 31 March 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.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

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.

3	Investment properties

	2018 £
At 1 April	32,892

There has been no valuation of investment property by an independent valuer.

Page 5

Berkeley Square (Clifton) Management Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

4

Debtors

	2018 £	2017 £
Trade debtors	4,487	61,520
Other debtors	2,306	750
Total current trade and other debtors	6,793	62,270

5

Creditors

	Note	2018 £	2017 £
Due within one year
Taxation and social security		-	11,641
Other creditors		37,362	86,755
		37,362	98,396

Page 6