Company Registration No. 02533393 (England and Wales)
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
3,285
2,854
Cash at bank and in hand
17,424
28,516
20,709
31,370
Creditors: amounts falling due within one year
4
(12,626)
(15,677)
Net current assets
8,083
15,693
Capital and reserves
Called up share capital
5
50
50
Profit and loss reserves
8,033
15,643
Total equity
8,083
15,693
The directors of the company have elected not to include a copy of the income statement within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 19 December 2019 and are signed on its behalf by:
A Clifford
Director
Company Registration No. 02533393
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Friars Walk (Lewes) 'A' Management Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Ellmans, 43 Church Road, Hove, East Sussex, BN3 2BE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 31 March 2019
are the
first
financial statements of Friars Walk (Lewes) 'A' Management Company Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 April 2017. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of
e
xemptions from the following disclosure requirements:
-
Section 4 ‘Statement of Financial Position’: Reconciliation of the opening and closing number of shares;
-
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
-
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’
:
Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument;
basis
of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income
;
-
Section 26 ‘Share based Payment’
:
Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements
;
-
Section 33 ‘Related Party Disclosures’
:
Compensation for key management personnel
.
The financial statements of the company are consolidated in the financial statements of [XXXXX]. These consolidated financial statements are available from its registered office
,
[XXXXXX]
.
1.2
Turnover
Income represents management and other charges receivable from the owners during the year.
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (excluding directors) employed by the company during the year was 0 (2018 - 0).
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
92
184
Other debtors
3,193
2,670
3,285
2,854
4
Creditors: amounts falling due within one year
2019
2018
£
£
Corporation tax
1
1
Other creditors
12,625
15,676
12,626
15,677
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary shares of £1 each
50
50
FRIARS WALK (LEWES) 'A' MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
5
Called up share capital
(Continued)
- 4 -
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Mark Carter FCCA.
The auditor was Friend-James Limited.