REGISTERED NUMBER: |
Packet Quays Management Limited |
Financial Statements |
for the Year Ended 31st December 2022 |
REGISTERED NUMBER: |
Packet Quays Management Limited |
Financial Statements |
for the Year Ended 31st December 2022 |
Packet Quays Management Limited (Registered number: 01886271) |
Contents of the Financial Statements |
for the Year Ended 31st December 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
Packet Quays Management Limited |
Company Information |
for the Year Ended 31st December 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants and Statutory Auditors |
48 Arwenack Street |
Falmouth |
Cornwall |
TR11 3JH |
Packet Quays Management Limited (Registered number: 01886271) |
Statement of Financial Position |
31st December 2022 |
31.12.22 | 31.12.21 |
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 |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Profit and loss account |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on |
Packet Quays Management Limited (Registered number: 01886271) |
Notes to the Financial Statements |
for the Year Ended 31st December 2022 |
1. | STATUTORY INFORMATION |
Packet Quays Management Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 01886271 and its registered office address is Allet Barns Business Centre, Allet, Truro, Cornwall, TR4 9DL. |
The presentation currency of the financial statements in the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest Pound. |
The financial statements cover a single entity. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents amounts the net amount receivable during the year for ground rents, garage rents and service charges. |
Tangible fixed assets |
Freehold land | - |
Buildings | - |
Taxation |
Taxation for the year comprises current 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 tax 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 statement of financial position date. |
Financial instruments |
The company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade and other receivables, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts, discounted at a market rate of interest. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other payables, bank loans and 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 future receipts, discounted at a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
Packet Quays Management Limited (Registered number: 01886271) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2022 |
4. | TANGIBLE FIXED ASSETS |
Freehold |
land | Buildings | Totals |
£ | £ | £ |
COST |
At 1st January 2022 |
and 31st December 2022 |
DEPRECIATION |
At 1st January 2022 |
and 31st December 2022 |
NET BOOK VALUE |
At 31st December 2022 |
At 31st December 2021 |
The company also owns the freehold of twenty three car parking spaces in the Lookout garage. The interest in this freehold property is not quantified in the balance sheet as it was acquired as a settlement. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade debtors |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Tax |
Contributions paid in advance |
Accruals |
7. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
8. | RELATED PARTY DISCLOSURES |
The company owns the freehold land on which leases have been granted to homeowners. The company's principal income is received from the lessees and relates to the management of the land and properties. The directors are also leaseholders. |
Insurance costs include directors' liability insurance of £421 (2021: £401). |