Company Registration No. 08132119 (England and Wales)
Church Terrace Management Company Limited
Unaudited accounts
for the year ended 31 December 2021
Church Terrace Management Company Limited
Unaudited accounts
Contents
Church Terrace Management Company Limited
Company Information
for the year ended 31 December 2021
Directors
Adrian Mark Tomlinson
Hayley Michaela Rees
Company Number
08132119 (England and Wales)
Registered Office
44 Lime Pit Lane
Wakefield
West Yorkshire
WF3 4DH
England
Church Terrace Management Company Limited
Statement of financial position
as at 31 December 2021
Tangible assets
7,330
6,779
Cash at bank and in hand
324
1,718
Creditors: amounts falling due within one year
(12,036)
(12,740)
Net current assets
23,530
34,095
Total assets less current liabilities
30,860
40,874
Creditors: amounts falling due after more than one year
(27,333)
(35,333)
Provisions for liabilities
Called up share capital
6
6
Profit and loss account
2,128
4,538
Shareholders' funds
2,134
4,544
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 September 2022 and were signed on its behalf by
Adrian Mark Tomlinson
Director
Company Registration No. 08132119
Church Terrace Management Company Limited
Notes to the Accounts
for the year ended 31 December 2021
Church Terrace Management Company Limited is a private company, limited by shares, registered in England and Wales, registration number 08132119. The registered office is 44 Lime Pit Lane, Wakefield, West Yorkshire, WF3 4DH, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Subsequent to the end of the financial year there have been considerable economic impacts in the UK and globally arising from the Coronavirus (COVID-19) pandemic, and government actions to reduce the spread of the virus. At the date of signing the
financial statements the directors are unable to determine the full effects the outbreak of the virus will have in future financial periods. The directors have taken steps to mitigate the impact of the virus on the business and, in their opinion, the company is a going concern and will continue to be so for a period of at least 12 months from the date that the financial statements have been approved.
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.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25 % Reducing balance
Church Terrace Management Company Limited
Notes to the Accounts
for the year ended 31 December 2021
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
4
Tangible fixed assets
Motor vehicles
Cost or valuation
At valuation
At 31 December 2021
17,495
At 31 December 2021
10,165
5
Debtors: amounts falling due within one year
2021
2020
Other debtors
35,242
45,117
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
8,000
4,667
Obligations under finance leases and hire purchase contracts
2,077
2,222
Taxes and social security
1,528
1,427
Loans from directors
81
4,074
The bank loan is unsecured, repayable in installments and interest is charged at 2.5%.
7
Creditors: amounts falling due after more than one year
2021
2020
Church Terrace Management Company Limited
Notes to the Accounts
for the year ended 31 December 2021
Allotted, called up and fully paid:
6 Ordinary shares of £1 each
6
6
There are no transactions with the directors that require disclosure under section 413 of the Companies Act 2006.
10
Transactions with related parties
Included in 'Other Debtors: amounts due within one year' is a balance of £35,242 (2020: £45,117) due from Butchers Arms Partnership of which A Tomlinson is a partner. The director has given his personal guarantee on the borrowings.
Included in Other Creditors is a balance of £81 (2020: £4,074) due to the directors. The loan is unsecured, interest free and repayable on demand.
11
Average number of employees
During the year the average number of employees was 2 (2020: 2).