Company Registration No. 5121809 (England and Wales)
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Statement of changes in equity
3
Notes to the financial statements
4 - 6
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CHICHESTER WHARF MANAGEMENT COMPANY LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Chichester Wharf Management Company Limited for the year ended 31 December 2024 set out on pages 2 to 6 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 https://www.icaew.com/regulation.

This report is made solely to the board of directors of Chichester Wharf Management Company Limited, as a body, in accordance with the terms of our engagement letter dated 6 January 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Chichester Wharf Management Company Limited and state those matters that we have agreed to state to the board of directors of Chichester Wharf Management Company Limited, 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 Chichester Wharf 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 Chichester Wharf 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 Chichester Wharf Management Company Limited. You consider that Chichester Wharf 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 Chichester Wharf 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.

Carpenter Box
12 June 2025
Chartered Accountants
Piper House
4 Dukes Court
Bognor Road
Chichester
West Sussex
PO19 8FX
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
2,247
698
Cash at bank and in hand
60,137
56,924
62,384
57,622
Creditors: amounts falling due within one year
4
(5,068)
(1,806)
Net current assets
57,316
55,816
Capital and reserves
Called up share capital
20
20
Other reserves
57,296
55,796
Total equity
57,316
55,816

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 5 June 2025 and are signed on its behalf by:
Mrs Jill Gregory
Director
Company registration number 5121809 (England and Wales)
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
Share capital
Maintenance reserve
Service charge account
Total
£
£
£
£
Balance at 1 January 2023
20
51,296
-
0
51,316
Period ended 31 December 2023:
Surplus for the period before reserve transfers
-
-
4,500
4,500
Budgeted transfer to maintenance reserve
-
4,500
(4,500)
-
Balance at 31 December 2023
20
55,796
-
0
55,816
Year ended 31 December 2024:
Surplus for the period before reserve transfers
-
-
1,500
1,500
Budgeted transfer to maintenance reserve
-
4,500
(4,500)
-
Transfer from reserve to fund maintenance
-
(3,000)
3,000
-
Balance at 31 December 2024
20
57,296
-
0
57,316
CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information

Chichester Wharf Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Stride & Son Limited, Southdown House, St John's Street, West Sussex, Chichester, PO19 1XQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for service charges, net of any service charge surplus repayable, which is transferred to creditors.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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.

Classification of financial liabilities

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.

CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).

3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
1,455
698
Service charge deficit to be recovered
792
-
2,247
698
2,247
698
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
704
Service charge surplus repayable
4,300
388
Other creditors
768
714
5,068
1,806
5
Managing agents declaration of income

Service charge expenditure includes £2,688 (2023: £2,538) payable to the managing agent.

CHICHESTER WHARF MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
6
Related party declaration of income

Service charge expenditure includes £165 (2023: £nil) payable to MRN Roofing Services. MRN Roofing Services is an associated company to the managing agent through marriage to a director of Stride & Son.

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