REGISTERED NUMBER: |
HERON WAY MANAGEMENT COMPANY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
HERON WAY MANAGEMENT COMPANY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
HERON WAY MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04354435) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
HERON WAY MANAGEMENT COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants & Chartered Tax Advisers |
First Floor Suite |
23 Trinity Square |
LLANDUDNO |
North Wales |
LL30 2RH |
HERON WAY MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04354435) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
HERON WAY MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04354435) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
HERON WAY MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04354435) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Heron Way Management Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Turnover represents the value of services provided to leaseholders. |
Tangible fixed assets |
Freehold property | - |
An assessment of the net realisable value of the property based on current revalued amount has been undertaken. On the basis that the property will be well maintained and such repair costs will be charged to the profit and loss account, it is the view of the directors that the net realisable value equates to the revalued amount. Depreciation is charged on freehold property (excluding land) on the revalued amount less the estimated residual value over 50 years. On the basis of the above, no charge is deemed necessary. An impairment review is carried out on an annual basis to assess whether the market value of the property is at least as much as the carrying value in the accounts. Provision is made for any permanent fall in value. |
Provision for future maintenance |
The company transfers its annual surplus/(deficit) to a sinking fund provision to cover the cost of necessary future repairs as they arise. |
Trade and other debtors |
Trade and other debtors are initially recognised at their transaction price and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment for bad and doubtful debts. |
Cash and cash equivalents |
The company holds one bank account with NatWest, the monies of which are held on trust, for the benefit of the leaseholders for the time being. |
Trade and other creditors |
Trade and other creditors are initially recognised at their transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
HERON WAY MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04354435) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Accruals |
7. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Other provisions |
Sinking fund for future repairs | 14,337 | 15,337 |
Sinking |
fund |
£ |
Balance at 1 April 2023 |
Release for the year | (1,000 | ) |
Balance at 31 March 2024 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 8 | 8 |