Registration number:
Fox Run Management Company Limited
for the Year Ended 31 August 2024
Fox Run Management Company Limited
Contents
Company Information |
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Director's Report |
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Profit and Loss Account and Statement of Retained Earnings |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
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Detailed Profit and Loss Account |
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Accountants' Report |
Fox Run Management Company Limited
Company Information
Director |
Helen Catherine Amy Keates |
Company secretary |
DMG Property Management Limited |
Registered office |
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Bankers |
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Accountants |
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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:
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
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Fox Run Management Company Limited
Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 August 2024
Note |
2024 |
2023 |
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Service charges |
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Administrative expenses |
( |
( |
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Operating profit |
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Other interest receivable and similar income |
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|
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4 |
1 |
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Profit before tax |
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Profit for the financial year |
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|
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Retained earnings brought forward |
1,933 |
1,124 |
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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 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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- |
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Retained earnings |
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Shareholders' funds |
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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:
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• |
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
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Fox Run Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Fox Run Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Debtors |
2024 |
2023 |
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Service charge arrears |
- |
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Prepayments |
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Other debtors |
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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.
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Service charges paid in advance |
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Other creditors |
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Fox Run Management Company Limited
Detailed Profit and Loss Account for the Year Ended 31 August 2024
2024 |
2023 |
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Service charges (analysed below) |
11,016 |
9,936 |
Gross profit (%) |
100% |
100% |
Administrative expenses |
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General administrative expenses (analysed below) |
(9,999) |
(9,138) |
Finance charges (analysed below) |
20 |
10 |
(9,979) |
(9,128) |
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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 |
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Service charges |
11,016 |
9,936 |
General administrative expenses |
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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 |
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Bank charges |
(20) |
(10) |
Other interest receivable and similar income |
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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.
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Hawkhurst
Cranbrook
Kent
TN18 4NR