Fox Run Management Company Limited 09132753 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Residential Property Management Digita Accounts Production Advanced 6.30.9574.0 true true 09132753 2023-09-01 2024-08-31 09132753 2024-08-31 09132753 core:RetainedEarningsAccumulatedLosses 2024-08-31 09132753 core:ShareCapital 2024-08-31 09132753 core:CurrentFinancialInstruments 2024-08-31 09132753 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09132753 bus:SmallEntities 2023-09-01 2024-08-31 09132753 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09132753 bus:FullAccounts 2023-09-01 2024-08-31 09132753 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09132753 bus:RegisteredOffice 2023-09-01 2024-08-31 09132753 bus:CompanySecretary1 2023-09-01 2024-08-31 09132753 bus:Director2 2023-09-01 2024-08-31 09132753 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09132753 bus:Agent1 2023-09-01 2024-08-31 09132753 countries:EnglandWales 2023-09-01 2024-08-31 09132753 2022-09-01 2023-08-31 09132753 2023-08-31 09132753 core:RetainedEarningsAccumulatedLosses 2023-08-31 09132753 core:ShareCapital 2023-08-31 09132753 core:CurrentFinancialInstruments 2023-08-31 09132753 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 09132753

Fox Run Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Fox Run Management Company Limited

Contents

Company Information

1

Director's Report

2

Profit and Loss Account and Statement of Retained Earnings

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 7

Detailed Profit and Loss Account

8 to 9

Accountants' Report

10

 

Fox Run Management Company Limited

Company Information

Director

Helen Catherine Amy Keates

Company secretary

DMG Property Management Limited

Registered office

Suite 7
Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ

Bankers

NatWest Maidstone
3 High Street
Maidstone
Kent
ME14 1HJ

Accountants

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

 

Fox Run Management Company Limited

Director's Report for the Year Ended 31 August 2024

The director presents her report and the financial statements for the year ended 31 August 2024.

Director of the company

The director who held office during the year was as follows:

Helen Catherine Amy Keates

Principal activity

The principal activity of the company is Residential Property Management


Bank information

Account name: DMG Property Management Limited Fox Lane Client Account Client Deposit Manager Account
Sort code: 60 60 08 Account number: 56200722
Interest bearing

Account name: DMG Property Management Limited Fox Lane Reserve Client Account Client Deposit Manager Account
Sort code: 60 60 08 Account number: 56200692
Interest bearing
 

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

This company is not considered a trading company and there is no liability to tax.

Approved and authorised by the director on 10 October 2024
 

.........................................
DMG Property Management Limited
Company secretary

 

Fox Run Management Company Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 August 2024

Note

2024
£

2023
£

Service charges

 

11,016

9,936

Administrative expenses

 

(9,979)

(9,128)

Operating profit

 

1,037

808

Other interest receivable and similar income

 

4

1

 

4

1

Profit before tax

1,041

809

Profit for the financial year

 

1,041

809

Retained earnings brought forward

 

1,933

1,124

Retained earnings carried forward

 

2,974

1,933

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Fox Run Management Company Limited

(Registration number: 09132753)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

3,530

2,605

Creditors: Amounts falling due within one year

5

(547)

(672)

Net assets

 

2,983

1,933

Capital and reserves

 

Called up share capital

9

-

Retained earnings

2,974

1,933

Shareholders' funds

 

2,983

1,933

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 October 2024
 

.........................................
Helen Catherine Amy Keates
Director

 

Fox Run Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Suite 7
Aspect House
Pattenden Lane
Marden
Kent
TN12 9QJ
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Service charges comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Service charges is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Fox Run Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Service charge arrears

Service charge arrears are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Service charge arrears are recognised at the transaction price, less provision for impairment. A provision for the impairment of service charge arrears is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Service charges paid in advance

Service charges paid in advance are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Service charges paid in advance are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

 

Fox Run Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Debtors

2024
£

2023
£

Service charge arrears

-

92

Prepayments

1,218

1,020

Other debtors

2,312

1,493

3,530

2,605

Other debtors includes a sum of £2,100 (2023 - £1,290) held in the name of the company in a client account of the appointed agent for the leaseholders.

Also included within other debtors is a sum of £204 in respect of invoice debtors. (2023 - £203) and a sum of £9 relating to Ordinary Share Capital unpaid.

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Service charges paid in advance

102

228

Other creditors

445

444

547

672

 

Fox Run Management Company Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2024

2024
£

2023
£

Service charges (analysed below)

11,016

9,936

Gross profit (%)

100%

100%

Administrative expenses

General administrative expenses (analysed below)

(9,999)

(9,138)

Finance charges (analysed below)

20

10

(9,979)

(9,128)

Operating profit

1,037

808

Other interest receivable and similar income (analysed below)

4

1

Profit before tax

1,041

809

 

Fox Run Management Company Limited

Detailed Profit and Loss Account for the Year Ended 31 August 2024

2024
£

2023
£

   

Service charges

Service charges

11,016

9,936

   

General administrative expenses

Light, heat and power

444

35

Insurance - Building

2,760

2,284

Insurance - Building - Prepayment adjustment

(198)

(45)

Insurance - Directors

102

102

Insurance - Directors - Prepayment adjustment

-

(3)

Reports

264

600

Repairs and maintenance

1,426

18

Electrical repairs

-

1,682

Emergency lighting

860

260

Drain maintenance

-

144

Sundry expenses

13

13

Cleaning

405

360

Gardening

1,607

1,520

Accountancy fees

444

408

Management fees

1,872

1,760

9,999

9,138

   

Finance charges

Bank charges

(20)

(10)

   

Other interest receivable and similar income

Bank interest receivable

(4)

(1)

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Fox Run Management Company Limited
for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Fox Run Management Company Limited for the year ended 31 August 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Fox Run Management Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Fox Run Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Fox Run Management Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Fox Run Management Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Fox Run Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Fox Run Management Company Limited. You consider that Fox Run Management Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Fox Run Management Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Manningtons
Victoria House The Moor
Hawkhurst
Cranbrook
Kent
TN18 4NR

10 October 2024