COMPANY REGISTRATION NUMBER:
02400962
Squires Court (Kettering) Management Company Limited |
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Filleted Unaudited Financial Statements |
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Squires Court (Kettering) Management Company Limited |
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Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Squires Court (Kettering) Management Company Limited |
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Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Squires Court (Kettering) Management Company Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes 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 www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Squires Court (Kettering) Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 17 June 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Squires Court (Kettering) Management Company Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Squires Court (Kettering) 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 Squires Court (Kettering) Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Squires Court (Kettering) Management Company Limited. You consider that Squires Court (Kettering) 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 financial statements of Squires Court (Kettering) 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 financial statements.
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
16 July 2024
Squires Court (Kettering) Management Company Limited |
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Statement of Financial Position |
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31 March 2024
Current assets
Creditors: amounts falling due within one year |
6 |
1,153 |
943 |
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-------- |
-------- |
Net current assets |
57,044 |
52,701 |
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-------- |
-------- |
Total assets less current liabilities |
57,044 |
52,701 |
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-------- |
-------- |
Net assets |
57,044 |
52,701 |
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-------- |
-------- |
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|
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Capital and reserves
Called up share capital |
58 |
58 |
Profit and loss account |
56,986 |
52,643 |
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-------- |
-------- |
Shareholders funds |
57,044 |
52,701 |
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-------- |
-------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
16 July 2024
, and are signed on behalf of the board by:
Company registration number:
02400962
Squires Court (Kettering) Management Company Limited |
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Notes to the Financial Statements |
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Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Canberra House, Corbygate Business Park, Corby, Northamptonshire, NN17 5JG, England.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Debtors
|
2024 |
2023 |
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£ |
£ |
Trade debtors |
608 |
7 |
Prepayments and accrued income |
201 |
201 |
Held at managing agents designated accounts |
57,388 |
53,436 |
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-------- |
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58,197 |
53,644 |
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6.
Creditors:
amounts falling due within one year
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2024 |
2023 |
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£ |
£ |
Trade creditors |
643 |
433 |
Accruals and deferred income |
510 |
510 |
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1,153 |
943 |
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---- |
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