Company registration number 02880287 (England and Wales)
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
1 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
10 Bridge Street
Christchurch
Dorset
BH23 1EF
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 5
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
COMPANY INFORMATION
- 1 -
Directors
M J Hawkins
Ms Laura Offer
(Appointed 4 February 2023)
Secretary
M J Hawkins
Company number
02880287
Registered office
10 Bridge Street
Christchurch
Dorset
BH23 1EF
Accountants
TC Group
10 Bridge Street
Christchurch
Dorset
BH23 1EF
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
BALANCE SHEET
AS AT 1 MARCH 2023
01 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
4
125,248
125,248
Current assets
Cash at bank and in hand
5
5
Net current assets
5
5
Total assets less current liabilities
125,253
125,253
Capital and reserves
Called up share capital
5
5
Other reserves
2,000
2,000
Profit and loss reserves
123,248
123,248
Total equity
125,253
125,253
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT 1 MARCH 2023
01 March 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 1 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 30 November 2023 and are signed on its behalf by:
M J Hawkins
Director
Company Registration No. 02880287
The notes on pages 4 to 5 form part of these financial statements
34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 1 MARCH 2023
- 4 -
1
Accounting policies
Company information

34 Crabton Close Road Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 10 Bridge Street, Christchurch, Dorset, BH23 1EF.

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.

 

34 Crabton Close Road Management Company Limited has adopted best practice principles and guidance in relation to the format of service charge company accounts together with the disclosure of monies collected on behalf of flat owners for the purpose of meeting the maintenance costs of the block of flats. The current generally accepted practice requires the financial statements to be split between the Limited Company (Landlord) and the service charge company. The service charge company holds the net service charge contributions on trust for the tenants.

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 pound.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

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, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

34 CRABTON CLOSE ROAD MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 1 MARCH 2023
- 5 -
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.

 

In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.

 

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
4
Investment property
2023
£
Fair value
At 2 March 2022 and 1 March 2023
125,248

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 1st March 2022 by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

 

The original cost of the property was £2,000. The contribution made towards the purchase of the Freehold was £2,416. The £2,000 has been recognised as a separate reserve balance. The £416 has been treated as a reserve in the the Service Charge Accounts.

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