Abyssinia Court Management Company Ltd 02276968 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property management. Digita Accounts Production Advanced 6.30.9574.0 true true 02276968 2023-01-01 2023-12-31 02276968 2023-12-31 02276968 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 02276968 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 02276968 bus:SmallEntities 2023-01-01 2023-12-31 02276968 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 02276968 bus:FullAccounts 2023-01-01 2023-12-31 02276968 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 02276968 bus:RegisteredOffice 2023-01-01 2023-12-31 02276968 bus:Director6 2023-01-01 2023-12-31 02276968 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02276968 core:LandBuildings 2023-01-01 2023-12-31 02276968 countries:England 2023-01-01 2023-12-31 02276968 2022-12-31 02276968 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 02276968 2022-01-01 2022-12-31 02276968 2022-12-31 02276968 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 02276968 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 02276968

Abyssinia Court Management Company Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Abyssinia Court Management Company Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Abyssinia Court Management Company Ltd

(Registration number: 02276968)
Statement of Financial Position as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

92

92

Creditors: Amounts falling due within one year

5

(80)

(80)

Net assets

 

12

12

Capital and reserves

 

Called up share capital

12

12

Shareholders' funds

 

12

12

For the financial year ending 31 December 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 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 2 April 2024 and signed on its behalf by:
 


Miss Lesley Fisher
Director

 

Abyssinia Court Management Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
Suite 103a Queen House
Queen Street
Barnstaple
EX32 8HJ

Principal activity

The principal activity of the company is that of property management.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Abyssinia Court Management Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold Property

No depreciation of tangible assets as considered immaterial

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes 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.

 

Abyssinia Court Management Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

92

92

At 31 December 2023

92

92

Depreciation

Carrying amount

At 31 December 2023

92

92

At 31 December 2022

92

92

Included within the net book value of land and buildings above is £92 (2022 - £92) in respect of freehold land and buildings.
 

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

80

80

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.