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REGISTERED NUMBER: 02453587 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Telford's Quay (Management Company)
Limited

Telford's Quay (Management Company)
Limited (Registered number: 02453587)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Telford's Quay (Management Company)
Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J S Klepka
S J Parker
P E Stelfox
C Webber
S James
C W Evans
A Owen
I D Lester
P Neave
D J Stamp





SECRETARY: B-Hive Company Secretarial Services Limited





REGISTERED OFFICE: 94 Park Lane
Croydon
Surrey
CR0 1JB





REGISTERED NUMBER: 02453587 (England and Wales)





ACCOUNTANTS: Johnstone Howell & Co
104 Whitby Road
Ellesmere Port
Cheshire
CH65 0AB

Telford's Quay (Management Company)
Limited (Registered number: 02453587)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
CURRENT ASSETS
Debtors 4 13,768 14,766
Cash at bank 73,339 43,787
87,107 58,553
CREDITORS
Amounts falling due within one year 5 21,759 5,299
NET CURRENT ASSETS 65,348 53,254
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,348

53,254

CAPITAL AND RESERVES
Called up share capital 53 53
Cyclical reserve 6 35,021 35,021
Retained earnings 6 30,274 18,180
SHAREHOLDERS' FUNDS 65,348 53,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 profit or loss 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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





P E Stelfox - Director


Telford's Quay (Management Company)
Limited (Registered number: 02453587)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Telford's Quay (Management Company) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents service charges receivable, excluding value added tax.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 1,514 3,363
Prepayments 12,254 11,403
13,768 14,766

Telford's Quay (Management Company)
Limited (Registered number: 02453587)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 11,873 1,203
Accruals and deferred income 9,886 4,096
21,759 5,299

6. RESERVES
Retained Cyclical
earnings reserve Totals
£ £ £

At 1 July 2023 18,180 35,021 53,201
Profit for the year 12,094 - 12,094
At 30 June 2024 30,274 35,021 65,295

The Cyclical reserve has been established to enable the company to allocate reserves towards the costs of major projects.

7. CAPITAL COMMITMENTS
2024 2023
£ £
Contracted but not provided for in the
financial statements 7,025 -

There are two significant items of expenditure on repairs committed to at the balance sheet date, as follows:

Firstly, the storms in January 2024 caused damage to ridge tiles, which necessitated the hire of a large cherry picker. This was only completed in September 2024 at a quoted cost (final invoice outstanding) of £1,850 plus VAT i.e. £2,220.

Secondly, the latest fire survey identified a number of items in communal areas that required addressing at a quoted cost of £4,004 plus VAT i.e. £4,805. The programme of remedial work commenced within the 2023/2024 financial year, but has yet to be finalised and invoiced.

8. POST BALANCE SHEET EVENTS

Management have instigated action to purchase the underlease, from Redrow at a cost of £15,000 plus legal fees. This will be initially funded from the Cyclical reserve, but it is expected that additional amounts will be available in general reserves to add to the Cyclical reserve later in the current financial year, provided that there are no significant repair issues identified.