51-53 HIGH STREET (WHEATLEY) MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
Company Registration Number: 05447594
51-53 HIGH STREET (WHEATLEY) MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
CONTENTS PAGES
Company information 1
Balance sheet 2
Notes to the financial statements 3 to 4
51-53 HIGH STREET (WHEATLEY) MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024
DIRECTORS
T J Robinson
Ms Y Fitch
Mrs R Finch
P Reed
SECRETARY
The MGroup Secretarial Services Limited
REGISTERED OFFICE
C9 Glyme Court
Oxford Office Village
Langford Lane
Kidlington
Oxford
OX5 1LQ
COMPANY REGISTRATION NUMBER
05447594 England and Wales
51-53 HIGH STREET (WHEATLEY) MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
Notes 2024 2023
£ £
CURRENT ASSETS
Cash at bank and in hand 6,488 7,744
CREDITORS: Amounts falling due within one year 5 2,167 3,628
NET CURRENT ASSETS 4,321 4,116
NET ASSETS 4,321 4,116
RESERVES
Income and expenditure account 4,321 4,116
4,321 4,116
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
T J Robinson Ms Y Fitch
Director Director
Date approved by the board: 27 February 2025
51-53 HIGH STREET (WHEATLEY) MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
1 GENERAL INFORMATION
51-53 High Street (Wheatley) Management Company Limited is a private company limited by guarantee without share capital and incorporated in England and Wales. Its registered office and principal place of business are:
Registered office Principal place of business
C9 Glyme Court 51-53 High Street
Oxford Office Village Wheatley
Langford Lane Oxford
Kidlington OX33 1NH
Oxford
OX5 1LQ
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Income recognition
Income is measured at the fair value of consideration received or receivable. It is recognised in respect of service charges as soon as there is a right to consideration.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the income and expenditure account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 4 4
5 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Trade creditors 1,128 -
Accruals and deferred income 1,039 991
Other creditors - 2,637
2,167 3,628
6 RELATED PARTY TRANSACTIONS
During the year, the following transactions with related parties took place:
T J Robinson
Director 2024 2023
£ £
Advances from director - 2,637
The director has made advances to the company which are repayable on demand. No interest has been charged on these advances. At the year end, the company owed the director the above amount.
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