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Registration number: 02547269

Devonia Management Company Sidmouth Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2021

 

Devonia Management Company Sidmouth Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 4

 

Devonia Management Company Sidmouth Limited

Company Information

Directors

Mr John Howard Pendlebury

Mrs Rosemary Veronica Holland

Mr David John Lloyd

Mrs Margaret Jean Townsend

Company secretary

Whitton & Laing (South West) LLP.

Registered office

C/O Whitton & Laing
20 Queen Street
Exeter
Devon
EX4 3SN

Accountants

Easterbrook Eaton Limited
Chartered Accountants
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

 

Devonia Management Company Sidmouth Limited

(Registration number: 02547269)
Abridged Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Current assets

 

Debtors

2

4

Cash at bank and in hand

 

9,377

4,598

 

9,379

4,602

Prepayments and accrued income

 

1,631

1,293

Creditors: Amounts falling due within one year

(1,300)

(856)

Net assets

 

9,710

5,039

Capital and reserves

 

Profit and loss account

9,710

5,039

Shareholders' funds

 

9,710

5,039

For the financial year ending 31 December 2021 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 14 March 2022 and signed on its behalf by:
 

.........................................
Mr John Howard Pendlebury
Director

 

Devonia Management Company Sidmouth Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

1

General information

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

The address of its registered office is:
C/O Whitton & Laing
20 Queen Street
Exeter
Devon
EX4 3SN

These financial statements were authorised for issue by the Board on 14 March 2022.

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 abridged 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 abridged 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.

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.

Investment property

The company is the freehold owner of Devonia, Coburg Terrace, Sidmouth Devon EX10 8NH which was acquired in 1991 at nil cost from the developer of the property. The company receives annual ground rent of £100 which is included in the maintenance collections made from tenants under the terms of the leases. The Directors consider that this should not be included as an asset of the company given the initial acquisition value.

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.

 

Devonia Management Company Sidmouth Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2021

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2020 - 0).