Company Registration No. 08723979 (England and Wales)
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
PAGES FOR FILING WITH REGISTRAR
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
Directors
Mr A Kirk
Mr T J Halpin
(Appointed 8 November 2018)
Company number
08723979
Registered office
Hamilton House
Church Street
Altrincham
WA14 4DR
Auditor
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2019
30 September 2019
- 1 -
2019
2018
Notes
£
£
£
£
Current assets
Debtors
3
49,793
41,213
Cash at bank and in hand
12,667
829
62,460
42,042
Creditors: amounts falling due within one year
4
(68,209)
(51,202)
Net current liabilities
(5,749)
(9,160)
Capital and reserves
Called up share capital
5
1
1
Profit and loss reserves
(5,750)
(9,161)
Total equity
(5,749)
(9,160)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
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 by the board of directors and authorised for issue on 14 May 2020 and are signed on its behalf by:
Mr T J Halpin
Director
Company Registration No. 08723979
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 2 -
1
Accounting policies
Company information
Bow Chambers Management Company Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Hamilton House, Church Street, Altrincham, WA14 4DR.
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.
Bow Chambers Management Company Limited is a wholly owned subsidiary of Patrick Properties Group Limited and the results of Bow Chambers Management Company Limited are included in the consolidated financial statements of Patrick Properties Group Limited which are available from its registered office at Hamilton House, Church Street, Altrincham, United Kingdom, Wa14 4DR
1.2
Going concern
The directors are not aware of any material uncertainties affecting the company and consider that the company will have sufficient resources to continue trading for the foreseeable future. As the result the directors have continued to adopt the going concern basis in preparing the financial statements.
true
1.3
Turnover
Turnover
relates to the proceeds from collection of the service charge and is recognised in the period in which expenditure is incurred to which the service charge relates.
1.4
Cash and cash equivalents
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.
1.5
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.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally 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.
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from
fellow group companies and preference shares that are classified as debt, 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.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
-
-
3
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
19,097
15,661
Amounts owed by group undertakings
30,696
25,551
Other debtors
-
1
49,793
41,213
BOW CHAMBERS MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2019
- 4 -
4
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
7,979
19,333
Amounts owed to group undertakings
44,473
16,001
Taxation and social security
857
-
Other creditors
14,900
15,868
68,209
51,202
5
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary share of £1 each
1
1
6
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
The senior statutory auditor was Nathaniel Davidson BA(Hons) ACA FCCA.
The auditor was Lopian Gross Barnett & Co.
7
Post balance sheet events and Covid-19
The Directors have closely monitored the Government guidance in response to the Covid-19 Pandemic and
have implemented measures in line with Governmental guidelines. The Directors have assessed the
impact of Covid-19 on the
company
and conclude that there are no
items
resulting from the C
o
vid-19 Pandemic which require disclosure at the balance sheet
date.
8
Related party transactions
There were no related party transactions not conducted under market conditions.