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Registration number: 2317637

High Fellside Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2018

(taking advantage of s444 of the Companies Act 2006)

Stables Thompson & Briscoe
Chartered Accountants & Business Advisers
Lowther House
Lowther Street
Kendal
Cumbria
LA9 4DX

 

High Fellside Management Company Limited

(Registration number: 2317637)
Balance Sheet as at 30 September 2018

Note

2018
£

(As restated)

2017
£

Fixed assets

 

Tangible assets

4

12

13

Current assets

 

Debtors

5

1,096

792

Cash at bank and in hand

 

8,666

7,025

 

9,762

7,817

Creditors: Amounts falling due within one year

6

(3,037)

(2,940)

Net current assets

 

6,725

4,877

Net assets

 

6,737

4,890

Capital and reserves

 

Called up share capital

12

12

Other reserves

5,979

5,979

Profit and loss account

746

(1,101)

Total equity

 

6,737

4,890

For the financial year ending 30 September 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 Directors' report and Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 October 2018 and signed on its behalf by:
 

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

C A Morton
Chairman

 

High Fellside Management Company Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Lowther House
34 Lowther Street
Kendal
Cumbria
LA9 4DX

These financial statements were authorised for issue by the Board on 5 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

High Fellside Management Company Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

The Freehold reversion is not depreciated

Fixtures, fittings and equipment

10% reducing balance

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.

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2017 - 0).

 

High Fellside Management Company Limited

Notes to the Financial Statements for the Year Ended 30 September 2018

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2017

1

193

194

At 30 September 2018

1

193

194

Depreciation

At 1 October 2017

-

181

181

Charge for the year

-

1

1

At 30 September 2018

-

182

182

Carrying amount

At 30 September 2018

1

11

12

At 30 September 2017

1

12

13

Included within the net book value of land and buildings above is £1 (2017 - £1) in respect of freehold land and buildings.
 

5

Debtors

2018
£

2017
£

Trade debtors

1,096

792

Total current trade and other debtors

1,096

792

6

Creditors

Creditors: amounts falling due within one year

2018
£

2017
£

Due within one year

 

Accruals and deferred income

 

3,037

2,940