Registration number:
Drummond Court (Ascot) Management Company Limited
for the Year Ended 31 March 2022
Drummond Court (Ascot) Management Company Limited
(Registration number: 05437624)
Statement of Financial Position as at 31 March 2022
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2022 |
2021 |
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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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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Income and expenditure account |
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Total equity |
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For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 Income Statement has been taken.
Approved and authorised by the
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Drummond Court (Ascot) Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 prepared in sterling, which is the functional currency of the entity.
Changes in accounting policy
New standards, interpretations and amendments effective
The following have been applied for the first time from 1 April 2021 and have had an effect on the financial statements:
The company acts as trustee of a statutory trust in respect of service charge monies collected for the maintenance of Flats 1-7 and Houses 8 & 9 Drummond Court.
The company has changed its accounting policy to exclude these funds from the company's accounts as separate
service charge accounts are prepared and certified.
Revenue recognition
Turnover represents service charges receivable from the residents for the year in question and is derived wholly within the UK.
The company is responsible for the management of Flats 1-7 and Houses 8&9 Drummond Court and collects service charges from lessees in order to fund expenditure incurred in the management of the property. These service charge funds are held in trust for the lessees as required by the Landlord and Tenant Act 1987. Transactions relating to the management of the property are reported separately to the lessees and are excluded from the company's financial statements.
Maintenance debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and bank deposits.
Drummond Court (Ascot) Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Creditors
Short term creditors are measured at the transaction price.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Due to the nature of the company’s activities there were no employees in the current or previous year.
Debtors |
2022 |
2021 |
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Other debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Accruals and deferred income |
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Other creditors |
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