Company registration number:
02047600
Crimchard Mews Management Company Limited
Unaudited filleted financial statements
31 March 2023
CRIMCHARD MEWS MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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|
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Current assets |
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|
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Debtors |
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5 |
1,660 |
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1,546 |
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Cash at bank and in hand |
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7,058 |
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|
5,975 |
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|
|
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_______ |
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_______ |
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8,718 |
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7,521 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
1,362) |
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|
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(
570) |
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_______ |
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_______ |
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Net current assets |
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7,356 |
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6,951 |
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_______ |
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_______ |
Total assets less current liabilities |
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7,356 |
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6,951 |
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_______ |
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_______ |
Net assets |
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7,356 |
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6,951 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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|
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13 |
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|
13 |
Profit and loss account |
|
7 |
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7,343 |
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6,938 |
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_______ |
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_______ |
Shareholders funds |
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7,356 |
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6,951 |
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_______ |
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_______ |
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For the year ending 31 March 2023 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
21 June 2023
, and are signed on behalf of the board by:
Amanda Christopher
Ralph Beresford
Director
Director
Company registration number:
02047600
CRIMCHARD MEWS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rose Cottage, Chilson Common, South Chard, Somerset, TA20 2NS.
Principal activity
The principal activity of the company is that of the management of land and buildings at The Ropewalk, Chard.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
As a management company collecting management fees to cover the costs incurred by the company, there is no current liability to corporation tax.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at theend of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5.
Debtors
|
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2023 |
2022 |
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|
£ |
£ |
|
Other debtors |
|
1,660 |
1,546 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Accruals and deferred income |
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483 |
360 |
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Other creditors |
|
879 |
210 |
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_______ |
_______ |
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1,362 |
570 |
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_______ |
_______ |
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7.
Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.