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Registration number: 07294803

Prospect Business Park Management Company (Swanage) Ltd

Annual Report and Unaudited Financial Statements Year Ended 5 April 2024

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Chartered Accountants

 

Prospect Business Park Management Company (Swanage) Ltd

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 5

 

Prospect Business Park Management Company (Swanage) Ltd

Company Information

Directors

Dorset Council

Mr R P B Burrow

Mr T J Hulme

Registered office

County Hall
Colliton Park
Dorchester
Dorset
DT1 1XJ

Accountants

Edwards and Keeping Limited
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Prospect Business Park Management Company (Swanage) Ltdfor the Year Ended 5 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Prospect Business Park Management Company (Swanage) Ltd for the year ended 5 April 2024 as set out on pages 3 to 5 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 Prospect Business Park Management Company (Swanage) Ltd, as a body, in accordance with the terms of our engagement letter dated 19 January 2023. Our work has been undertaken solely to prepare for your approval the accounts of Prospect Business Park Management Company (Swanage) Ltd and state those matters that we have agreed to state to the Board of Directors of Prospect Business Park Management Company (Swanage) Ltd, 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 Prospect Business Park Management Company (Swanage) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Prospect Business Park Management Company (Swanage) Ltd 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 Prospect Business Park Management Company (Swanage) Ltd. You consider that Prospect Business Park Management Company (Swanage) Ltd 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 Prospect Business Park Management Company (Swanage) Ltd. 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.






Edwards and Keeping Limited
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

30 December 2024

 

Prospect Business Park Management Company (Swanage) Ltd

(Registration number: 07294803)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

7,063

6,953

Cash at bank and in hand

 

1,771

1,773

 

8,834

8,726

Creditors: Amounts falling due within one year

5

(8,812)

(8,704)

Net assets

 

22

22

Capital and reserves

 

Called up share capital

22

22

Shareholders' funds

 

22

22

For the financial year ending 5 April 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 December 2024 and signed on its behalf by:
 


Dorset Council
Director


Mr R P B Burrow
Director

 
     
 

Prospect Business Park Management Company (Swanage) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 5 April 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:
County Hall
Colliton Park
Dorchester
Dorset
DT1 1XJ
England

These financial statements were authorised for issue by the Board on 30 December 2024.

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.

Revenue recognition

Turnover 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. Turnover 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors 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.

 

Prospect Business Park Management Company (Swanage) Ltd

Notes to the Unaudited Financial Statements
for the Year Ended 5 April 2024

Trade creditors

Trade creditors 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 directors) during the year, was 0 (2023 - 0).

4

Debtors

Current

2024
£

2023
£

Trade debtors

5,505

5,505

Other debtors

1,558

1,448

 

7,063

6,953

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Excess of demands over expenditure

6,728

7,693

Trade creditors

660

-

Accruals and deferred income

400

-

Other creditors

1,024

1,011

8,812

8,704

6

Related party transactions

Key management personnel

Included within other creditors are amounts repayable on demand to Dorset Council, one of the directors of the company. At the balance sheet date , the amount due was £1,024 (2023 - £1,011).