Registered Number:
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
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COMPANY INFORMATION
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CONTENTS
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DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2018
The directors present their report and the financial statements for the year ended 31 May 2018.
The directors who served during the year were:
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the board on
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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF OLD RECTORY COURT MAINTENANCE COMPANY LTD
FOR THE YEAR ENDED 31 MAY 2018
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Old Rectory Court Maintenance Company Ltd for the year ended 31 May 2018 which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/
members/regulations-standards-and-guidance/
.
This report is made solely to the Board of Directors of Old Rectory Court Maintenance Company Ltd, as a body, in accordance with the terms of our engagement letter dated
6 July 2017. Our work has been undertaken solely
to prepare for your approval the financial statements of Old Rectory Court Maintenance Company Ltd and state those matters that we have agreed to state to the Board of Directors of Old Rectory Court Maintenance Company Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Old Rectory Court Maintenance Company Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Old Rectory Court Maintenance Company Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit or loss of Old Rectory Court Maintenance Company Ltd. You consider that Old Rectory Court Maintenance Company Ltd is exempt from the statutory audit requirement for the year.
Chartered Accountants
Fitzroy House
Crown Street
Suffolk
IP1 3LG
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PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2018
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BALANCE SHEET
AS AT
31 MAY 2018
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 6 to 7 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 MAY 2018
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
31 MAY 2017
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
Old Rectory Court Maintenance Company Limited is a private company limited by share capital, incorporated in England and Wales; registration number 02457649
The registered office is Flat 2, Old Rectory Court, Melton Road, Woodbridge, Suffolk, IP12 1NZ.
2.
Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Short term debtors are measured at transaction price, less any impairment.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2018
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