Company registration number 05605499 (England and Wales)
BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
4
52,582
52,927
Cash at bank and in hand
67,217
47,190
119,799
100,117
Creditors: amounts falling due within one year
5
(119,798)
(100,116)
Net current assets
1
1
Capital and reserves
Called up share capital
6
1
1

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

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 24 September 2024 and are signed on its behalf by:
J Chalmers
Director
Company registration number 05605499 (England and Wales)
BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Building 7 Harbourside Management Company Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Units 2 & 3, Beech Court, Hurst, Reading, Berkshire, RG10 0RQ.

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.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The truedirectors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

The directors therefore consider that there are no adjustments required to the accounts and that the company continues to be a going concern.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
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.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs.

1.7
Taxation

The activities of the company do not constitute a trade for taxation purposes.

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.

3
Employees

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

2023
2022
Number
Number
Total
2
1
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
38,496
36,779
Amounts owed by group undertakings
1
1
Other debtors
14,085
16,147
52,582
52,927
BUILDING 7 HARBOURSIDE MANAGEMENT COMPANY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,685
-
0
Amounts owed to group undertakings
27,918
19,522
Taxation and social security
3,124
-
0
Other creditors
85,071
80,594
119,798
100,116
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
12
12
1
1
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Sarah Squires BEng FCA
Statutory Auditor:
MGI Midgley Snelling LLP
Date of audit report:
24 September 2024
8
Related party transactions

As at the balance sheet date, the company owed its parent company amounts of £27,918 (2022: £19,522).

9
Parent company

The company is controlled by Crest Nicholson Operations Limited, its immediate parent, by virtue of majority shareholding.

 

The ultimate parent, which prepares group accounts in which the company is consolidated, is Crest Nicholson plc, a company registered in England & Wales. Consolidated group financial statements of Crest Nicholson plc are available from 500 Dashwood Lang Road, Bourne Business Park, Addlestone, Surrey, United Kingdom, KT15 2HJ.

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