REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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DUCKS WALK MANAGEMENT COMPANY LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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DUCKS WALK MANAGEMENT COMPANY LIMITED |
DUCKS WALK MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04150376) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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DUCKS WALK MANAGEMENT COMPANY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
Harben House |
Harben Parade |
Finchley Road |
LONDON |
NW3 6LH |
DUCKS WALK MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04150376) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | 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. |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on
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DUCKS WALK MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04150376) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Ducks Walk Management Company Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents services charges receivable by the company from the residents in the ordinary course of business. |
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Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. |
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Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. |
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Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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. |
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Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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Cash and cash equivalent |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
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Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment. |
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Interest income |
Interest income is recognised in profit or loss using the effective interest method. |
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Taxation |
The company is a mutually trading enterprise and any surplus or deficit arising as a result of the difference between service charges levied and actual costs incurred does not fall within the scope of corporation tax. Tax is levied on investment income only. |
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Company status |
The Company owns and manages the freehold property situated at Ducks Walk, London. Service charges are collected and expenses are paid through a managing agents designated client account. Reserve account funds are held in trust on behalf of the leaseholders. |
DUCKS WALK MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04150376) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
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Other debtors - May & Co | 5,687 | 9,437 |
Prepayments and accrued income |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other creditors |
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Accrued expenses |
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