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Company No: 11435393 (England and Wales)

11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

STATEMENT OF FINANCIAL POSITION

As at 30 June 2024
11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 June 2024
Note 2024 2023
£ £
Current assets
Debtors 3 10,170 11,765
Cash at bank and in hand 4 26,177 19,009
36,347 30,774
Creditors: amounts falling due within one year 5 ( 36,787) ( 30,767)
Net current (liabilities)/assets (440) 7
Total assets less current liabilities (440) 7
Net (liabilities)/assets ( 440) 7
Capital and reserves
Called-up share capital 7 7
Profit and loss account ( 447 ) 0
Total shareholder's (deficit)/funds ( 440) 7

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 11 - 12 South Quay Management Company Ltd (registered number: 11435393) were approved and authorised for issue by the Director. They were signed on its behalf by:

John Burton
Director

27 January 2025

11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
11 - 12 SOUTH QUAY MANAGEMENT COMPANY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

11 - 12 South Quay Management Company Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Atrium House Loddon Business Park, Loddon, Norwich, NR14 6JD, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value 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 losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Debtors

2024 2023
£ £
Trade debtors 9,378 10,983
Prepayments 792 782
10,170 11,765

4. Cash and cash equivalents

2024 2023
£ £
Cash at bank and in hand 26,177 19,009

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 728 318
Amounts owed to Group undertakings 24,011 18,605
Amounts owed to director 2,200 2,200
Deferred income 7,637 7,476
Other creditors 2,211 2,168
36,787 30,767