Northway Trading Estate Management Company Limited 02395836 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is management of real estate on a fee or contract basis. Digita Accounts Production Advanced 6.30.9574.0 true 02395836 2023-04-01 2024-03-31 02395836 2024-03-31 02395836 core:RetainedEarningsAccumulatedLosses 2024-03-31 02395836 core:ShareCapital 2024-03-31 02395836 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02395836 bus:SmallEntities 2023-04-01 2024-03-31 02395836 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02395836 bus:FullAccounts 2023-04-01 2024-03-31 02395836 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02395836 bus:RegisteredOffice 2023-04-01 2024-03-31 02395836 bus:Director1 2023-04-01 2024-03-31 02395836 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02395836 countries:EnglandWales 2023-04-01 2024-03-31 02395836 2022-04-01 2023-03-31 02395836 2023-03-31 02395836 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 02395836

Prepared for the registrar

Northway Trading Estate Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Northway Trading Estate Management Company Limited

(Registration number: 02395836)
Balance Sheet as at 31 March 2024

Note

2024
 £

2023
 £

Current assets

 

Debtors

4

16,008

16,521

Cash at bank and in hand

 

39,649

27,635

 

55,657

44,156

Creditors: Amounts falling due within one year

5

(5,896)

(835)

Net assets

 

49,761

43,321

Capital and reserves

 

Called up share capital

111

111

Profit and loss account

49,650

43,210

Total equity

 

49,761

43,321

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

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 14 November 2024 and signed on its behalf by:
 

A R Williams
Director

   
     
 

Northway Trading Estate Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
Unit K Northway Trading Estate
Northway
Tewkesbury
Gloucestershire
GL20 8JH

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises amounts received for management charges net of value added tax.

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.

Trade debtors

Trade debtors are amounts due from customers for management charges.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.

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.

 

Northway Trading Estate Management Company Limited

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

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

4

Debtors

2024
 £

2023
 £

Trade debtors

16,008

1,638

Other debtors

-

14,883

 

16,008

16,521

 

5

Creditors

2024
 £

2023
 £

Due within one year

Trade creditors

17

-

Social security and other taxes

4,999

-

Accrued expenses

880

835

5,896

835