THE CHILTERNS MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Company Registration Number: 02367562
THE CHILTERNS MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 7
THE CHILTERNS MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024
DIRECTORS
Professor K E Carr
Mr M Thoday
Mrs S M Thomas
Professor P G Toner
Mrs J Coffey
Miss H M Sheldon
Mr A Hollander
Mr R Baker
appointed 24 June 2024
SECRETARY
Professor P G Toner
REGISTERED OFFICE
1 Court Farm Barns
Medcroft Road
Tackley
Kidlington
Oxon
OX5 3AL
COMPANY REGISTRATION NUMBER
02367562 England and Wales
THE CHILTERNS MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
Notes 2024 2023
(As restated - Note 4)
£ £
CURRENT ASSETS
Debtors 6 32,430 20,684
Cash at bank and in hand 325,957 285,193
358,387 305,877
CREDITORS: Amounts falling due within one year 7 39,386 67,468
NET CURRENT ASSETS 319,001 238,409
NET ASSETS 319,001 238,409
CAPITAL AND RESERVES
Called up share capital 54 54
Income and expenditure account 65,480 41,530
Major repair reserve 253,467 196,825
319,001 238,409
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 December 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 Income and Expenditure Account or Directors Report.
Signed on behalf of the board of directors
Mr R Baker Mrs J Coffey
Director Director
Date approved by the board: 2 June 2025
THE CHILTERNS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 GENERAL INFORMATION
The Chilterns Management Company Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
1 Court Farm Barns
Medcroft Road
Tackley
Kidlington
Oxon
OX5 3AL
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 and lease premiums as soon as there is a right to consideration and is determined by reference to the value of the work performed.
The company recognises income when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
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.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have made key assumptions when calculating an accrual in respect of waste collection services. At 31 December 2024 the accrual totalled £14,900.
4 RESTATEMENT OF COMPARATIVES
During the preparation of these accounts, it was identified that receipts received on behalf of another company totalling £18,613 has been incorrectly recognised as lease premium income in 2023. As a result, the comparative figures have been restated as follows:
Other creditors (Note 7) Income and expenditure account Taxation and social security (Note 7)
As previously stated - 55,555 14,210
Receipts incorrectly recognised 18,613 (18,613) -
Tax impact regarding the above - 4,588 (4,588)
As restated 18,613 41,530 9,622
5 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 8 8
6 DEBTORS
2024 2023
£ £
Trade debtors 16,336 4,092
Prepayments and accrued income 5,262 6,067
Other debtors 10,832 10,525
32,430 20,684
7 CREDITORS: Amounts falling due within one year
2024 2023
(As restated - Note 4)
£ £
Trade creditors 1,170 450
Taxation and social security 1,029 9,622
Accruals and deferred income 37,187 38,783
Other creditors - 18,613
39,386 67,468
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