Acorah Software Products - Accounts Production 15.0.600 false true 31 March 2023 1 April 2022 false 1 April 2023 31 March 2024 31 March 2024 02318743 Andrew Habgood Mr Ashley Maxwell Grant Warden Mr Kevin Gallagher Mrs Caroline Dean iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02318743 2023-03-31 02318743 2024-03-31 02318743 2023-04-01 2024-03-31 02318743 frs-core:CurrentFinancialInstruments 2024-03-31 02318743 frs-core:FurnitureFittings 2024-03-31 02318743 frs-core:FurnitureFittings 2023-04-01 2024-03-31 02318743 frs-core:FurnitureFittings 2023-03-31 02318743 frs-core:PlantMachinery 2024-03-31 02318743 frs-core:PlantMachinery 2023-04-01 2024-03-31 02318743 frs-core:PlantMachinery 2023-03-31 02318743 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 02318743 frs-bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 02318743 frs-bus:FilletedAccounts 2023-04-01 2024-03-31 02318743 frs-bus:SmallEntities 2023-04-01 2024-03-31 02318743 frs-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 02318743 frs-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02318743 frs-bus:Director1 2023-04-01 2024-03-31 02318743 frs-bus:Director2 2023-04-01 2024-03-31 02318743 frs-bus:Director3 2023-04-01 2024-03-31 02318743 frs-bus:CompanySecretary1 2023-04-01 2024-03-31 02318743 frs-countries:EnglandWales 2023-04-01 2024-03-31 02318743 2022-03-31 02318743 2023-03-31 02318743 2022-04-01 2023-03-31 02318743 frs-core:CurrentFinancialInstruments 2023-03-31 02318743 frs-core:RetainedEarningsAccumulatedLosses 2023-03-31
Registered number: 02318743
Buttons Yard Management Company Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 02318743
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 469 626
469 626
CURRENT ASSETS
Debtors 5 3,611 2,957
Cash at bank and in hand 828 3,477
4,439 6,434
Creditors: Amounts Falling Due Within One Year 6 (1,653 ) (2,424 )
NET CURRENT ASSETS (LIABILITIES) 2,786 4,010
TOTAL ASSETS LESS CURRENT LIABILITIES 3,255 4,636
NET ASSETS 3,255 4,636
Income and Expenditure Account 3,255 4,636
MEMBERS' FUNDS 3,255 4,636
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr Ashley Maxwell Grant Warden
Director
Mr Kevin Gallagher
Director
2 September 2024
The notes on pages 2 to 3 form part of these financial statements.
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Page 2
Notes to the Financial Statements
1. General Information
Buttons Yard Management Company Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 02318743 . The registered office is 138 High Street, Crediton, Devon, EX17 3DX. The principal place of business is Buttons Yard, Warminster, Wiltshire, BA12 9NZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents consideration received from residents to cover communal building expenses.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Financial Instruments
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 the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable surplus for the year. Taxable surplus differs from surplus as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable surplus. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable surplus will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable surplus will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in surplus or deficit, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. 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.
2.7. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income and expenditure account, directors report, and notes to the financial statements relating to the income and expenditure account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
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4. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 April 2023 270 4,260 4,530
As at 31 March 2024 270 4,260 4,530
Depreciation
As at 1 April 2023 67 3,837 3,904
Provided during the period 51 106 157
As at 31 March 2024 118 3,943 4,061
Net Book Value
As at 31 March 2024 152 317 469
As at 1 April 2023 203 423 626
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 885 700
Other debtors 2,726 2,257
3,611 2,957
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 90 170
Accruals and deferred income 1,563 2,254
1,653 2,424
7. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £10.
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