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REGISTERED NUMBER: 03943551 (England and Wales)















Faversham Creek Management Company
Limited

Unaudited Financial Statements for the Year Ended 29 February 2024






Faversham Creek Management Company
Limited (Registered number: 03943551)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Faversham Creek Management Company
Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: Miss C H Barber
A J Weavers
Ms A D Benton
C M Brooks
Mrs J A Golden
M G Cheshire





REGISTERED OFFICE: 5 Provender Walk
Belvedere Road
Faversham
Kent
ME13 7NF





REGISTERED NUMBER: 03943551 (England and Wales)





ACCOUNTANTS: Foreman Waller
Chartered Accountants
1 High Street
Sheerness
Kent
ME12 1NY

Faversham Creek Management Company
Limited (Registered number: 03943551)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,173 2,075

CURRENT ASSETS
Cash at bank 26,177 36,208

CREDITORS
Amounts falling due within one year 5 1,358 1,808
NET CURRENT ASSETS 24,819 34,400
TOTAL ASSETS LESS CURRENT LIABILITIES 28,992 36,475

PROVISIONS FOR LIABILITIES 788 394
NET ASSETS 28,204 36,081

RESERVES
Income and expenditure account 28,204 36,081
28,204 36,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Faversham Creek Management Company
Limited (Registered number: 03943551)

Statement of Financial Position - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





A J Weavers - Director


Faversham Creek Management Company
Limited (Registered number: 03943551)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Faversham Creek Management Company Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income recognition
Turnover represents the fair value of the consideration receivable for service charges to members and mooring fees to members and non-members, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

Taxation
Taxation for the year represents corporation tax arising on the profits from moorings to non-members and is recognised in the Statement of Income and Retained Earnings at the amount of tax payable using the tax rates and laws that have been enacted by the statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted by the year end date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Faversham Creek Management Company
Limited (Registered number: 03943551)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 4,150
Additions 2,556
At 29 February 2024 6,706
DEPRECIATION
At 1 March 2023 2,075
Charge for year 458
At 29 February 2024 2,533
NET BOOK VALUE
At 29 February 2024 4,173
At 28 February 2023 2,075

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 279 709
Other creditors 1,079 1,099
1,358 1,808