Company Registration No. 03633226 (England and Wales)
THE HOUGH DEVELOPMENT MANAGEMENT CO. LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
THE HOUGH DEVELOPMENT MANAGEMENT CO. LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 4
THE HOUGH DEVELOPMENT MANAGEMENT CO. LTD
BALANCE SHEET
AS AT 30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
2
47
63
Current assets
Debtors
406
355
Cash at bank and in hand
253
52
659
407
Creditors: amounts falling due within one year
(588)
(450)
Net current assets/(liabilities)
71
(43)
Total assets less current liabilities
118
20
Capital and reserves
Called up share capital
5
5
Profit and loss reserves
113
15
Total equity
118
20
In accordance with section 444 of the Companies Act 2006 all
of
the members of the company have consented to the
preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (S.I. 2008/409)(b).
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 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for:
-
ensuring that the company keeps accounting records which comply with Sections 386 and 387
of the Companies Act 2006 and
-
preparing financial statements
which give a true and fair view of the state of affairs of the
company as at the end of each financial year and of its profit or loss for each financial year in
accordance with the requirements of Sections 394 and 395 and which otherwise comply with the
requirements of the Companies Act 2006 relating to financial statements, so far as applicable to
the company.
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 HOUGH DEVELOPMENT MANAGEMENT CO. LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2019
30 September 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 21 February 2020 and are signed on its behalf by:
Mrs E K Rooms
Director
Company Registration No. 03633226
THE HOUGH DEVELOPMENT MANAGEMENT CO. LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 3 -
1
Accounting policies
Company information
The Hough Development Management Co. Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
South Barn, Higher Wych Road, Malpas, Cheshire, SY14 7JJ.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
The company is a residents property management company whose sole purpose is to manage the common areas of The Hough, Higher Wych Road, Malpas, Cheshire.
All of the service charge fees received and expended on the management of the property, with any excess at the end of accounting periods being transferred to the property maintenance reserve.
1.2
Turnover
Turnover represents service charges receivable from households within the Hough Development.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Garden Equipment
25% on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
Cash at bank and in hand
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
THE HOUGH DEVELOPMENT MANAGEMENT CO. LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 4 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The company is not liable to tax on the excess of service charge income received over expenditure incurred.
2
Tangible fixed assets
Total
£
Cost
At 1 October 2018 and 30 September 2019
739
Depreciation and impairment
At 1 October 2018
676
Depreciation charged in the year
16
At 30 September 2019
692
Carrying amount
At 30 September 2019
47
At 30 September 2018
63