Company Registration No. 02541150 (England and Wales)
POLYGON BUSINESS CENTRE MANAGEMENT (POYLE) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
POLYGON BUSINESS CENTRE MANAGEMENT (POYLE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
POLYGON BUSINESS CENTRE MANAGEMENT (POYLE) LIMITED
BALANCE SHEET
AS AT
24 MARCH 2019
24 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
10,739
10,054
Creditors: amounts falling due within one year
4
(5,960)
(2,875)
Net current assets
4,779
7,179
Capital and reserves
Income and expenditure account
4,779
7,179
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 24 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
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 and signed by the director and authorised for issue on 20 December 2019
Mr J E Aston
Director
Company Registration No. 02541150
POLYGON BUSINESS CENTRE MANAGEMENT (POYLE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 MARCH 2019
- 2 -
1
Accounting policies
Company information
Polygon Business Centre Management (Poyle) Limited is a
private
company
limited by guarantee
incorporated in England and Wales.
The registered office is
77/79 High Street, Egham, Surrey, TW20 9HY.
The principal place of business of the company is Polygon Business Centre, Berkshire.
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.
1.2
Turnover
Turnover represents service charges receivable.
Turnover is recognised at the fair value of the consideration received or receivable in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
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 balance sheet when the company becomes party to the contractual provisions of the instrument
.
Basic financial assets
Basic financial assets, which include
debtors,
are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including
creditors,
are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
POLYGON BUSINESS CENTRE MANAGEMENT (POYLE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 MARCH 2019
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2018 - 1).
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
10,739
10,054
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
1,037
1,021
Other creditors
4,923
1,854
5,960
2,875