Registration number:
Ponsharden Lodge Management Company (Falmouth) Limited
for the Year Ended 31 July 2024
Ponsharden Lodge Management Company (Falmouth) Limited
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
Ponsharden Lodge Management Company (Falmouth) Limited
Company Information
Directors |
Mrs Karen Lesley Jasper Miss Nicolle Ellenni Collette Pliatsikas |
Company secretary |
Mrs Karen Lesley Jasper |
Registered office |
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Accountants |
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Ponsharden Lodge Management Company (Falmouth) Limited
Directors' Report for the Year Ended 31 July 2024
The directors present their report and the financial statements for the year ended 31 July 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is property management
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.
Approved and authorised by the
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Ponsharden Lodge Management Company (Falmouth) Limited
for the Year Ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ponsharden Lodge Management Company (Falmouth) Limited for the year ended 31 July 2024 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Ponsharden Lodge Management Company (Falmouth) 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 Ponsharden Lodge Management Company (Falmouth) Limited and state those matters that we have agreed to state to the Board of Directors of Ponsharden Lodge Management Company (Falmouth) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ponsharden Lodge Management Company (Falmouth) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Ponsharden Lodge Management Company (Falmouth) 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 results of Ponsharden Lodge Management Company (Falmouth) Limited. You consider that Ponsharden Lodge Management Company (Falmouth) 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 Ponsharden Lodge Management Company (Falmouth) 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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Chartered Certified Accountants
Falmouth Road
Penryn
United Kingdom
TR10 8AW
Ponsharden Lodge Management Company (Falmouth) Limited
Profit and Loss Account for the Year Ended 31 July 2024
Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating loss |
- |
(21,110) |
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Other interest receivable and similar income |
- |
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Loss before tax |
- |
( |
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Loss for the financial year |
- |
( |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
Ponsharden Lodge Management Company (Falmouth) Limited
Statement of Comprehensive Income for the Year Ended 31 July 2024
2024 |
2023 |
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Loss for the year |
- |
( |
Total comprehensive income for the year |
- |
( |
Ponsharden Lodge Management Company (Falmouth) Limited
(Registration number: 02944686)
Balance Sheet as at 31 July 2024
Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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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 |
5 |
5 |
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Shareholders' funds |
5 |
5 |
For the financial year ending 31 July 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 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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
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Ponsharden Lodge Management Company (Falmouth) Limited
Statement of Changes in Equity for the Year Ended 31 July 2024
Share capital |
Total |
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At 1 August 2023 |
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At 31 July 2024 |
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Share capital |
Retained earnings |
Total |
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At 1 August 2022 |
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Loss for the year |
- |
( |
( |
At 31 July 2023 |
5 |
- |
5 |
Ponsharden Lodge Management Company (Falmouth) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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.
Ponsharden Lodge Management Company (Falmouth) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
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.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Debtors |
Current |
2024 |
2023 |
Other debtors |
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Ponsharden Lodge Management Company (Falmouth) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Accruals and deferred income |
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Other creditors |
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Included in other creditors is an amount of £2,886 (2023: £668) surplus funds to cover future repairs and expenditure.
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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5 |
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5 |