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Registered number: 03985486









PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 03985486

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
-
1,716

Cash at bank and in hand
 5 
13,915
8,817

  
13,915
10,533

Creditors: amounts falling due within one year
 6 
(2,841)
(1,190)

Net current assets
  
 
 
11,074
 
 
9,343

Total assets less current liabilities
  
11,074
9,343

  

Net assets
  
11,074
9,343


Capital and reserves
  

Called up share capital 
  
11
11

Profit and loss account
  
11,063
9,332

  
11,074
9,343

Page 1

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 03985486
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 22 October 2024.




................................................
Mark Harvey
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The principal activity of the Company is that of property management. The Company was incorporated in England and Wales and is a private company limited by share capital. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The Company has no employees other than the directors, who did not receive any remuneration (2022 - £NIL).

Page 4

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
-
1,716

-
1,716



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
13,915
8,817

13,915
8,817



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,730
164

Corporation tax
25
6

Other taxation and social security
316
285

Accruals and deferred income
770
735

2,841
1,190



7.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
13,915
8,817




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.

Page 5

 
PAXTON BUSINESS CENTRE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Related party transactions

The director Mark Harvey is invoiced quarterly for service charges, comparable to other tenants, on a commercial basis. 


9.


Controlling party

There is no overall controlling party.

 
Page 6