COMPANY REGISTRATION NUMBER:
1850146
11 Norfolk Buildings Management Company Limited
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Company Limited by Guarantee
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Filleted Unaudited Financial Statements
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11 Norfolk Buildings Management Company Limited
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Company Limited by Guarantee
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Statement of Financial Position
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31 March 2019
Current assets
Cash at bank and in hand
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1,373
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1,480
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Creditors: amounts falling due within one year
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5
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(
390)
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(
390)
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Net current assets
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983
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1,090
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Total assets less current liabilities
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983
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1,090
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Capital and reserves
Profit and loss account
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983
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1,090
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Members funds
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983
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1,090
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
28 November 2019
, and are signed on behalf of the board by:
Mr M Lloyd-Davies
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Director
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Company registration number:
1850146
11 Norfolk Buildings Management Company Limited
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Company Limited by Guarantee
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Notes to the Financial Statements
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Year ended 31 March 2019
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Anchorage, The Promenade, Neyland, Milford Haven, Pembs, SA73 1QE.
2.
Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Company limited by guarantee
The liability of members is limited. In the event of the company being wound up each member has undertaken to contribute to the assets of the company such amounts as may be required not exceeding £1.
5.
Creditors:
amounts falling due within one year
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2019
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2018
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£
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£
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Other creditors
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390
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390
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