REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
St Mellion Property Management Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
St Mellion Property Management Limited |
St Mellion Property Management Limited (Registered number: 03110663) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
St Mellion Property Management Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
14 Amherst Avenue |
London |
W13 8NQ |
St Mellion Property Management Limited (Registered number: 03110663) |
Balance Sheet |
31 March 2024 |
31.3.24 | 31.3.23 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Income and expenditure account |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
St Mellion Property Management Limited (Registered number: 03110663) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
St Mellion Property Management Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover is derived from the service fee income received from timeshare lodge property owners at St Mellion, excluding VAT and other sales taxes. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Other debtors |
St Mellion Property Management Limited (Registered number: 03110663) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.24 | 31.3.23 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
The company has taken advantage of the exemption contained in FRS 102 section 33 "Related Party Disclosures" from disclosing transactions with entities which are a wholly owned part of the group. |
Purchases from other related parties in the year were £87,533 (2023 - £103,358). The balance owed to related parties at the year end amounted to £21,495 (2023 - £36,028) |
Amounts owed to related parties are unsecured, interest free and due for repayment within one year. |
7. | COMPANY STATUS |
The company is limited by guarantee. The company has been set up for the benefit of the timeshare lodge property owners. |
Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the company's assets if it should be wound up while they are a member or within one year after they cease to be a member, for payment of the company's debts and liabilities contracted before they cease to be a member, and of the costs, charges and expenses of winding up, and the adjustments of the rights of the contributories among themselves. |