Registration number:
Fairway (Bristol) Limited
for the Period from 1 September 2019 to 31 December 2020
(Prepared in accordance with FRS 102 Section 1A - Filleted)
Fairway (Bristol) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Fairway (Bristol) Limited
Company Information
Directors |
R Day L Herbert S Arthur L R Mannion V R Todd J Glanville |
Company secretary |
3Sixty Management Limited |
Registered office |
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Accountants |
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Fairway (Bristol) Limited
(Registration number: 08186580)
Balance Sheet as at 31 December 2020
Note |
2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Capital and reserves |
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Non-distributable revenue reserve |
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Total equity |
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For the financial period ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Company secretary
Fairway (Bristol) Limited
Notes to the Financial Statements for the Period from 1 September 2019 to 31 December 2020
General information |
The company is a company limited by guarantee, incorporated in England & Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in sterling.
Revenue recognition
The company acts as a trustee of a statutory trust in respect of service charges collected for the maintenance of properties at Fairway Apartments. The company is responsible for the management of Fairway Apartments, Bristol, and collects these charges from the lessees in order to cover the costs incurred.
Any excess charges are held in trust for the lessees as required by Section 42 of the Landlord & Tenant Act 1987, and reported separately in the notes to these accounts. These are held to fund future financial obligations in the management of Fairway and will be treated as company income when that expenditure takes place.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Service charge moneies are held in an HSBC client account operated by 3Sixty Conulting Ltd.
Fairway (Bristol) Limited
Notes to the Financial Statements for the Period from 1 September 2019 to 31 December 2020
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Staff numbers |
The average number of persons employed by the company (including directors) during the period, was
Debtors |
2020 |
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Trade debtors |
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Other debtors |
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Related party transactions |
A Statutory trust is imposed over service charge monies received under section 42 of the Landlord and Tenant Act 1987. The company acts as a trustee in this capacity.
At the year end the company was holding its net assets on behalf of the leaseholders