Company No:
Contents
DIRECTOR | The Rt Honourable E A H Viscount Falmouth |
REGISTERED OFFICE | Estate Office |
Tregothnan | |
Truro | |
TR2 4AN | |
United Kingdom |
COMPANY NUMBER | 02124801 (England and Wales) |
CHARTERED ACCOUNTANTS | Dixon Wilson |
22 Chancery Lane | |
London | |
WC2A 1LS |
BANKERS | C Hoare & Co |
37 Fleet Street | |
London | |
EC4P 4DQ |
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Tangible assets | 4 |
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81,145 | 25,677 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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507,356 | 541,497 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 379,886 | 415,764 | ||
Total assets less current liabilities | 461,031 | 441,441 | ||
Creditors: amounts falling due after more than one year | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Director's responsibilities:
The financial statements of Falmouth Estates Management Company Limited (registered number:
The Rt Honourable E A H Viscount Falmouth
Director |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office and principal place of business is:
The Estate Office
Tregothnan
Truro
Cornwall
TR2 4AN
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
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 Section 1A, and the Companies Act 2006. There are no material departures.
Basis of preparation
These financial statements have been prepared using the historical cost convention.
The functional currency of Falmouth Estates Management Company Limited is considered to be pounds sterling because it is the currency of the primary economic environment in which the company operates.
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date
Deferred tax
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Other intangible assets |
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The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is provided on tangible fixed assets so as to write off the cost of valuation, less any residual value over their expected useful economic life, as follows:
Land and buildings |
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Plant and machinery |
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Vehicles |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including the director |
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Other intangible assets | Total | ||
£ | £ | ||
Cost | |||
At 01 April 2023 |
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At 31 March 2024 |
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Accumulated amortisation | |||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||
At 31 March 2024 |
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At 31 March 2023 |
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Land and buildings | Plant and machinery | Vehicles | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 01 April 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 01 April 2023 |
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Charge for the financial year |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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At 31 March 2023 |
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2024 | 2023 | ||
£ | £ | ||
Trade debtors |
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Prepayments |
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VAT recoverable |
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2024 | 2023 | ||
£ | £ | ||
Bank overdrafts |
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Trade creditors |
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Accruals |
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Taxation and social security |
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Other creditors |
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Transactions with owners holding a participating interest in the entity
2024 | 2023 | ||
£ | £ | ||
Management charges | 161,327 | 171,000 |
At the balance sheet date the amount due from the trust was £72,010 (2023: £51,781)
Transactions with the entity's director
2024 | 2023 | ||
£ | £ | ||
Management charges | 1,539,569 | 1,471,686 |
At the balance sheet date the amount due from the director was £392,923 (2023: £460,958)