Company registration number 9801377 (England and Wales)
FALLOW PARK (MANAGEMENT COMPANY) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
FALLOW PARK (MANAGEMENT COMPANY) LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
FALLOW PARK (MANAGEMENT COMPANY) LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Trade and other receivables
4
7,482
3,282
Cash and cash equivalents
12,224
12,765
19,706
16,047
Current liabilities
5
(19,690)
(16,031)
Net current assets
16
16
Equity
-
-
Called up share capital
16
16
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 25 October 2023 and are signed on its behalf by:
Mr J R Eames
Director
Company Registration No. 9801377
FALLOW PARK (MANAGEMENT COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information
Fallow Park (Management Company) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ventura Park Road, Tamworth, Staffordshire, United Kingdom, B78 3HL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Revenue
Turnover is service charges received from the owners of the housing development at Fallow Park, Rugeley Road, Hednesford, Staffordshire, WS12 0AB.
The service charges received are used to pay current and planned expenditure. Any surplus funds are provided for as future expenditure.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
FALLOW PARK (MANAGEMENT COMPANY) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
4
Trade and other receivables
2023
2022
Amounts falling due within one year:
£
£
Trade receivables
7,482
3,282
5
Current liabilities
2023
2022
£
£
Trade payables
1,752
240
Other payables
17,938
15,791
19,690
16,031