REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
for |
Telford's Quay (Management Company) |
Limited |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Cyclical reserve | 6 |
Retained earnings | 6 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Prepayments |
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 |
Accruals and deferred income |
6. | RESERVES |
Retained | Cyclical |
earnings | reserve | Totals |
£ | £ | £ |
At 1 July 2023 | 53,201 |
Profit for the year | - |
At 30 June 2024 | 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 |
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. |