REGISTERED NUMBER: |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
REGISTERED NUMBER: |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Tattersall House |
East Parade |
Harrogate |
North Yorkshire |
HG1 5LT |
BANKERS: |
7 Prospect Crescent |
Harrogate |
North Yorkshire |
HG1 1RN |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
BALANCE SHEET |
31 DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 profit or loss 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. |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
BALANCE SHEET - continued |
31 DECEMBER 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | STATUTORY INFORMATION |
Sovereign Park (Harrogate) Management Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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 future taxable profits. |
Turnover |
Turnover represents service charges payable by leaseholders and estate rentcharges payable by leaseholders and freeholders. |
Sinking funds |
A separate sinking fund has been established for each of the three apartment blocks on the Sovereign Park estate, the estate as a whole, and for certain self-contained areas. The objective of each sinking fund is to spread the cost of periodic major expenditure over a period of years thereby spreading the burden and ensuring equity between different owners of the same property. The directors review the balance in each of the sinking funds each year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
The freehold of the three apartment buildings and of the common parts of the estate known as Sovereign Park, Harrogate was transferred to the Company for a nominal consideration of £1 in July 2003. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Tax |
Accruals and deferred income |
7. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Other provisions |
Sinking funds | 125,678 | 115,162 |
Sinking |
Funds |
£ |
Balance at 1 January 2024 |
Net increase during the year | 10,516 |
Balance at 31 December 2024 |
SOVEREIGN PARK (HARROGATE) MANAGEMENT |
COMPANY LIMITED (REGISTERED NUMBER: 03462071) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
8. | RETAINED SURPLUS |
The Company's Memorandum and Articles of Association require that the income and property of the Company shall be applied solely towards the objects of the Company and that no part shall be paid or transferred directly or indirectly by way of dividend, bonus or any other means to a member or members of the company. Under the Company's Articles of Association the directors may set aside reasonable reserve funds. |