Company registration number 02634503 (England and Wales)
FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
9,135
4,352
Cash at bank and in hand
6
65,085
60,195
74,220
64,547
Creditors: amounts falling due within one year
7
(18,035)
(16,071)
Net current assets
56,185
48,476
Capital and reserves
Called up share capital
8
38
38
Profit and loss reserves
56,147
48,438
Total equity
56,185
48,476

The directors of the company have elected not to include a copy of the income statement 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 1 November 2024 and are signed on its behalf by:
C A Ient
Director
Company registration number 02634503 (England and Wales)
FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Friars Walk 'B' (Lewes) Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ellmans, 43 Church Road, Hove, East Sussex, BN3 2BE.

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
Turnover

Income represents management and other charges receivable from the owners during the year.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

1.5
Taxation

The tax expense represents the sum of the tax currently payable on interest.

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.

FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
3
Employees

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

2024
2023
Number
Number
Total
-
0
-
0
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on interest for the current period
124
-
0

 

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
308
-
0
Other debtors
8,827
4,352
9,135
4,352
6
Cash at bank and in hand

Monies retained by the managing agent for the company are held in a designated client bank account with Barclays Bank Plc.

 

7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
540
Corporation tax
124
-
0
Other creditors
17,911
15,531
18,035
16,071
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
38 Ordinary shares of £1 each
38
38
FRIARS WALK 'B' (LEWES) MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
9
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:
Roger Clow FCA
Statutory Auditor:
Friend-James Limited
Date of audit report:
4 November 2024
2024-03-312023-04-01false04 November 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityThis audit opinion is unqualifiedT S J HaywardB D ScapingC A IentJ BellDerek Bonfieldfalsefalse026345032023-04-012024-03-31026345032024-03-31026345032023-03-3102634503core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3102634503core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3102634503core:CurrentFinancialInstruments2024-03-3102634503core:CurrentFinancialInstruments2023-03-3102634503core:ShareCapital2024-03-3102634503core:ShareCapital2023-03-3102634503core:RetainedEarningsAccumulatedLosses2024-03-3102634503core:RetainedEarningsAccumulatedLosses2023-03-3102634503bus:Director32023-04-012024-03-31026345032022-04-012023-03-3102634503core:UKTax2023-04-012024-03-3102634503core:UKTax2022-04-012023-03-3102634503core:WithinOneYear2024-03-3102634503core:WithinOneYear2023-03-3102634503bus:PrivateLimitedCompanyLtd2023-04-012024-03-3102634503bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3102634503bus:FRS1022023-04-012024-03-3102634503bus:Audited2023-04-012024-03-3102634503bus:Director12023-04-012024-03-3102634503bus:Director22023-04-012024-03-3102634503bus:Director42023-04-012024-03-3102634503bus:Director52023-04-012024-03-3102634503bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP