| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Unit 2.02 High Weald House |
| Glovers End |
| Bexhill |
| East Sussex |
| TN39 5ES |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| STATEMENT OF FINANCIAL POSITION |
| 30 SEPTEMBER 2024 |
| 30.9.24 | 30.9.23 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| Other reserves | 6 |
| Income and expenditure account | 6 |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| STATEMENT OF FINANCIAL POSITION - continued |
| 30 SEPTEMBER 2024 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Spring Meadow Management Company Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of management of the common areas at Spring Meadow, Uckfield, East Sussex TN22 1FB. |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| The financial statements have been prepared on the going concern basis on the basis of ongoing financial support from the directors and fellow group companies and the continued availability of credit and banking facilities. |
| The preparation of financial statements in conformity with FRS 102 section 1A requires the use of certain critical accounting estimates. lt also requires management to exercise judgement in applying the company's accounting policies. |
| TURNOVER |
| Turnover represents rental and service charge contributions receivable from members during the year. |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Basic financial liabilities |
| Basic financial liabilities, including creditors, bank loans, loans from fellow group companies 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 payment ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Prepayments |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30.9.24 | 30.9.23 |
| £ | £ |
| Accruals and deferred income |
| 6. | RESERVES |
| The company intends to utilise the Reserve fund for any maintenance costs. Any contributions are not refundable upon members leaving. |
| SPRING MEADOW MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 07385263) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 7. | RELATED PARTY DISCLOSURES |
| The Company receives contributions from its members, who are also directors of the Company, in order to meet costs incurred in managing the common areas at Spring Meadow. These contributions are arms length transactions. |
| 8. | LIMITED BY GUARANTEE |
| The company is limited by guarantee of the members and accordingly does not have share capital. |