Compass North Management Limited
|
Balance Sheet |
Registered number: |
02218630 |
as at 30 September 2016
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|
Notes |
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|
2016 |
|
|
2015 |
£ |
£ |
|
Current assets |
Debtors |
3 |
|
12,439 |
|
|
11,902 |
Cash at bank and in hand |
|
|
61,912 |
|
|
76,975 |
|
|
|
74,351 |
|
|
88,877 |
|
Creditors: amounts falling due within one year |
4 |
|
(4,432) |
|
|
(10,822) |
|
Net current assets |
|
|
|
69,919 |
|
|
78,055 |
|
Net assets |
|
|
|
69,919 |
|
|
78,055 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
5 |
|
|
100 |
|
|
100 |
Contingency reserves |
6 |
|
|
69,814 |
|
|
77,950 |
Income and expenditure account |
7 |
|
|
5 |
|
|
5 |
|
Shareholders' funds |
|
|
|
69,919 |
|
|
78,055 |
|
|
|
|
|
|
|
|
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The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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Members have not required the company to obtain an audit in accordance with section 476 of the Act.
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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.
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The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
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|
|
|
|
D M Clancy |
Director |
Approved by the board and authorised for issue on 26 June 2017
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|
Compass North Management Limited
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Notes to the Accounts |
for the year ended 30 September 2016
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|
1 |
Accounting policies |
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|
Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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|
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Income |
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Income represents service charges receivable from the owners of the units at Compass North. No VAT is due thereon.
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|
|
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2 |
Taxation |
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The company's only taxable income is investment income received from its reserves held on deposit. The interest received is taxed at source. |
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|
3 |
Debtors |
2016 |
|
2015 |
£ |
£ |
|
|
Other debtors |
12,439 |
|
11,902 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2016 |
|
2015 |
£ |
£ |
|
|
Service charges in advance |
2,494 |
|
8,266 |
|
Trade creditors |
680 |
|
1,067 |
|
Other creditors |
1,258 |
|
1,489 |
|
|
|
|
|
|
4,432 |
|
10,822 |
|
|
|
|
|
|
|
|
|
|
5 |
Share capital |
Nominal |
|
2016 |
|
2016 |
|
2015 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares
|
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
6 |
Contingency reserves |
2016 |
|
2015 |
£ |
£ |
|
|
At 1 October 2015 |
77,950 |
|
86,329 |
|
Transfer to the income and expenditure account |
(8,136) |
|
(8,379) |
|
|
At 30 September 2016 |
69,814 |
|
77,950 |
|
|
|
|
|
|
|
|
|
|
7 |
Income and expenditure account |
2016 |
|
2015 |
£ |
£ |
|
|
At 1 October 2015 |
5 |
|
5 |
|
Deficit for the year |
(8,136) |
|
(8,379) |
|
Transfer from contingency reserves |
8,136 |
|
8,379 |
|
|
At 30 September 2016 |
5 |
|
5 |
|
|
|
|
|
|
|
|
|
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8 |
Related parties |
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The company's income is receivable entirely from its members, as the owners of the units at the Compass North. In some cases, the owners of the units pass on the service charges to their tenants but the ultimate responsibility for the settlement of the service charges remains with the owners.
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