Registered number
02276143
St Marys Court (Bridgwater) Management Company Limited
Filleted Accounts
31 December 2023
St Marys Court (Bridgwater) Management Company Limited
Registered number: 02276143
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 55 907
Cash at bank and in hand 38,301 280,828
38,356 281,735
Creditors: amounts falling due within one year 4 (3,845) (1,973)
Net current assets 34,511 279,762
Net assets 34,511 279,762
Capital and reserves
Tarmac reserve 5 3,000 3,000
Insurance reserve 6 500 500
Internal Redecoration reserve 7 4,200 3,700
External Redecoration reserve 8 35,319 300,000
Profit and loss account (8,508) (27,438)
Shareholder's funds 34,511 279,762
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S C Abel
Director
Approved by the board on 9 February 2024
St Marys Court (Bridgwater) Management Company Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 55 907
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,540 224
Taxation and social security costs 227 671
Other creditors 1,078 1,078
3,845 1,973
5 Tarmac reserve 2023 2022
£ £
At 1 January 2023 3,000 3,000
At 31 December 2023 3,000 3,000
6 Insurance reserve 2023 2022
£ £
At 1 January 2023 500 500
Gain on revaluation of land and buildings - -
Transfer - -
At 31 December 2023 500 500
7 Internal Redecoration reserve 2023 2022
£ £
At 1 January 2023 3,700 2,960
Gain on revaluation of land and buildings - -
Transfer 500 740
At 31 December 2023 4,200 3,700
8 External Redecoration reserve 2023 2022
£ £
At 1 January 2023 300,000 147,500
Gain on revaluation of land and buildings - -
Transfer (264,681) 152,500
At 31 December 2023 35,319 300,000
6 Other information
St Marys Court (Bridgwater) Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
47 High Street
Bridgwater
Somerset
TA6 3BG
10 Client money
The amount shown in the bank account in the Company accounts is the money held on trust for the tenants.
11 Agents remuneration
No remuneration was paid to the Agent for works carried out in relation to their property.
St Marys Court (Bridgwater) Management Company Limited 02276143 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts October 2023 release 2 S C Abel No description of principal activity 02276143 2022-01-01 2022-12-31 02276143 core:WithinOneYear 2022-12-31 02276143 core:OtherReservesSubtotal 2022-12-31 02276143 core:RetainedEarningsAccumulatedLosses 2022-12-31 02276143 core:RevaluationReserve 2021-12-31 02276143 2023-01-01 2023-12-31 02276143 bus:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 02276143 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02276143 bus:Director40 2023-01-01 2023-12-31 02276143 1 2023-01-01 2023-12-31 02276143 2 2023-01-01 2023-12-31 02276143 countries:England 2023-01-01 2023-12-31 02276143 bus:FRS102 2023-01-01 2023-12-31 02276143 bus:FullAccounts 2023-01-01 2023-12-31 02276143 2023-12-31 02276143 core:WithinOneYear 2023-12-31 02276143 core:OtherReservesSubtotal 2023-12-31 02276143 core:RetainedEarningsAccumulatedLosses 2023-12-31 02276143 core:RevaluationReserve 2023-12-31 02276143 2022-12-31 02276143 core:RevaluationReserve 2022-12-31 iso4217:GBP xbrli:pure