Registered number: 03165167
FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
COMPANY INFORMATION
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A Rose
(resigned
31 October 2016
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C McCormick
(appointed
18 November 2015
)
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C Gaw
(appointed
18 November 2015
)
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A K Hung
(appointed
18 November 2015
)
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G Marriott
(resigned
14 October 2015
)
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R Othman
(resigned
18 November 2015
)
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R Arrif
(resigned
18 November 2015
)
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S A Dietsch
(resigned
18 November 2015
)
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J U Moore
(resigned
18 November 2015
)
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S D Novick
(resigned
18 November 2015
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123 Buckingham Palace Road
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PKF Cooper Parry Group Limited
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Chartered Accountants
&
Statutory Auditors
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
CONTENTS
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Independent auditors' report
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Notes to the financial statements
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2016
The directors present their report and the audited financial statements for the year ended
30 June 2016
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DIRECTORS' RESPONSIBILITIES STATEMENT
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The directors are responsible for preparing the Directors' report and the
financial statements in accordance with applicable law and regulations.
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Company law requires the directors to prepare financial statements for each financial year
. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
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·
select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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The directors who served during the year were:
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A Rose
(resigned
31 October 2016
)
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C McCormick
(appointed
18 November 2015
)
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C Gaw
(appointed
18 November 2015
)
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A K Hung
(appointed
18 November 2015
)
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G Marriott
(resigned
14 October 2015
)
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R Othman
(resigned
18 November 2015
)
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R Arrif
(resigned
18 November 2015
)
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S A Dietsch
(resigned
18 November 2015
)
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J U Moore
(resigned
18 November 2015
18 November 2015
)
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S D Novick
(resigned
18 November 2015
)
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DISCLOSURE OF INFORMATION TO AUDITORS
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Each of the persons who are
directors at the time when this Directors' report is approved has confirmed that:
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so far as that director is aware, there is no relevant audit information of which the company's auditors are unaware, and
·
that director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.
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Page 1
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 JUNE 2016
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The auditors,
PKF Cooper Parry Group Limited
, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
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This report was approved by the board on
30 March 2017
and signed on its behalf.
Page 2
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
We have audited the financial statements of Fountain and Colonnade Management Limited for the year ended 30 June 2016, set out on pages 5 to 8.
The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective January 2015)
(United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).
This report is made solely to the company's members, as a body,
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS
As explained more fully in the Directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.
SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Directors' report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.
OPINION ON FINANCIAL STATEMENTS
In our opinion the financial statements:
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give a true and fair view of the state of the company's affairs as at 30 June 2016 and of its
profit for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities
; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
Page 3
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of directors' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit
; or
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the directors were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies' exemption from the requirement to prepare a Strategic report or in preparing the Directors' report
.
Gavin Whitehouse
(Senior statutory auditor)
for and on behalf of
PKF Cooper Parry Group Limited
Chartered Accountants
Statutory Auditors
8 Calthorpe Road
Edgbaston
Birmingham
West Midlands
B15 1QT
30 March 2017
Page 4
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2016
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Service charge receivable
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Interest receivable and similar income
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PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION
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Tax on profit on ordinary activities
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PROFIT FOR THE FINANCIAL YEAR
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The notes on pages 7 to 8 form part of these financial statements.
Page 5
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
REGISTERED NUMBER:
03165167
BALANCE SHEET
AS AT
30 JUNE 2016
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CREDITORS:
amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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The financial statements have been prepared in accordance with the special provisions applicable to small companies within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
30 March 2017
.
The notes on pages 7 to 8 form part of these financial statements.
Page 6
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The financial statements 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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Service charge receivable
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Service charge receivable represents costs incurred in respect of the year, which are recoverable from the owners or occupiers of the site. Amounts are charged quarterly on account and any surplus or deficit is credited to the same parties, resulting in no profit or loss to the company.
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2.
OPERATING LOSS
The operating loss is stated after charging:
During the year, no director received any emoluments
(2015 - £NIL)
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3.
TAXATION
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UK corporation tax charge on profit for the year/period
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Due to this company being a non profit making entity, the company is only liable to tax on any interest receivable in the period.
4.
DEBTORS
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Cash funds held by managing agent
Other debtors
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Page 7
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FOUNTAIN AND COLONNADE MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
5.
CREDITORS:
Amounts falling due within one year
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Other taxation and social security
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Accruals
Reserve funds
Service charge in advance
Other creditors
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1,189,877
3,263,311
1,051,397
3,304,702
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1,120,470
3,184,108
1,054,253
2,227,047
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6.
SHARE CAPITAL
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Allotted, called up and fully paid
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100
Ordinary
shares of £
1
each
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7.
RESERVES
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Profit for the financial year
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8.
RECONCILIATION OF MOVEMENT IN SHAREHOLDERS' FUNDS
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Opening shareholders' funds
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Profit for the financial year/period
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Closing shareholders' funds
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9.
CONTROLLING PARTY
The Company is owned by Pavilion Trustees Limited and Pavilion Property Trustees Limited, as trustees of the Elizabeth Bridge Unit Trust registered in Jersey, and 123 BPR BIDCO Limited, a company registered in Jersey.
Page 8
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