|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 October 2018 |
|
for |
|
DURLEY DENE MANAGEMENT COMPANY LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 October 2018 |
|
for |
|
DURLEY DENE MANAGEMENT COMPANY LIMITED |
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
|
|
|
|
|
Contents of the Financial Statements |
for the year ended 31 October 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 | to | 3 |
|
Notes to the Financial Statements | 4 | to | 6 |
|
DURLEY DENE MANAGEMENT COMPANY LIMITED |
|
Company Information |
for the year ended 31 October 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Woodlands Court |
Truro Business Park |
Truro |
Cornwall |
TR4 9NH |
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
Balance Sheet |
31 October 2018 |
|
2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
|
|
|
CURRENT ASSETS |
Debtors | 4 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 5 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Capital maintenance reserve |
|
|
SHAREHOLDERS' FUNDS |
|
|
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
Balance Sheet - continued |
31 October 2018 |
|
|
|
|
|
|
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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
|
The financial statements were approved by the Board of Directors on
behalf by: |
|
|
|
|
|
|
|
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
Notes to the Financial Statements |
for the year ended 31 October 2018 |
|
1. | STATUTORY INFORMATION |
|
Durley Dene Management Company Limited is a
|
England and Wales. The company's registered number and registered office address can be found on |
the Company Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
The 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. The financial statements have been prepared under the historical cost |
convention. |
|
The financial statements are prepared in sterling which is the functional currency of the company. |
Monetary amounts in these financial statements are rounded to the nearest pound sterling. |
|
Going concern |
The directors, after making enquiries and having considered the company's business, its financial |
plans and the facilities available to finance the business, have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. |
Accordingly, the going concern basis is adopted in preparing the financial statements. |
|
Turnover |
Turnover comprises of maintenance and repair contributions invoiced to owners during the period. |
|
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated |
useful life. |
Freehold property - Land is not depreciated |
|
Impairment of fixed assets |
At each reporting end date, the company reviews the carrying amounts of its tangible assets to |
determine whether there is any indication that those assets have suffered an impairment loss. If any |
such indication exists, the recoverable amount of the asset is estimated in order to determine the |
extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of |
an individual asset, the company estimates the recoverable amount of the cash-generating unit to |
which the asset belongs. |
|
The recoverable amount is the higher of fair value less costs to sell and value in use. In assessing |
value in use, the estimated future cash flows are discounted to their present value using a pre-tax |
discount rate that reflects current market assessments of the time value of money and the risks |
specific to the asset for which the estimates of future cash flows have not been adjusted. |
|
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying |
amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable |
amount. An impairment loss is recognised immediately in profit or loss. |
|
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have |
ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset |
(or cash generating unit) is increased to the revised estimate of its recoverable amount, but so that the |
increased carrying amount does not exceed the carrying amount that would have been determined had |
no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of |
an impairment loss is recognised immediately in profit or loss. |
|
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense represents the sum of the current tax expense and deferred tax expense. Current tax |
assets are recognised when tax paid exceeds the tax payable. |
|
Current and deferred tax is charged or credited to the profit or loss, except when it relates to items |
charged or credited to other comprehensive income or equity, when the tax follows the transaction or |
event it relates to and is also charged or credited to other comprehensive income, or equity. |
|
Current tax assets and current tax liabilities and deferred tax assets and deferred tax liabilities are |
offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends |
either to settle on the net basis or to realise the asset and settle the liability simultaneously. |
|
Current tax is based on taxable profit for the year. Taxable profit differs from total comprehensive |
income because it excludes items of income or expense that are taxable or deductible in other periods. |
Current tax assets and liabilities are measured using tax rates that have been enacted or substantively |
enacted by the reporting period. |
|
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date where transactions or events have occurred at that date that will result in an |
obligation to pay more, or a right to pay less or to receive more, tax. |
|
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely |
than not that there will be suitable taxable profits from which the future reversal of the underlying timing |
differences can be deducted. |
|
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the |
periods in which timing differences reverse, based on tax rates and laws enacted or substantively |
enacted at the balance sheet date. |
|
Financial instruments |
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and |
Section 12 "Other Financial Instruments" of FRS to all of its financial instruments. |
|
Financial assets and liabilities are recognised in the company's statement of financial position when |
the company becomes party to the contractual provisions of the instrument. |
|
Financial assets and liabilities are classified into specified categories. The classification depends on |
the nature and purpose of the financial asset or liability and is determined at the time of recognition. |
|
Basic financial assets, which include trade and other receivables, including staff loans 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 |
constitute a financing transaction, where the transaction is measure at the present value of the future |
receipts discounted at a market rate of interest. |
|
Basic financial liabilities, which include trade and other payables are initially measured 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. |
|
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, |
cancelled, or they expire. |
DURLEY DENE MANAGEMENT COMPANY LIMITED (REGISTERED NUMBER: 04016579) |
|
Notes to the Financial Statements - continued |
for the year ended 31 October 2018 |
|
3. | TANGIBLE FIXED ASSETS |
Freehold |
property |
£ |
COST |
At 1 November 2017 |
and 31 October 2018 |
|
NET BOOK VALUE |
At 31 October 2018 |
|
At 31 October 2017 |
|
|
Included in cost of land and buildings is freehold land of £ 2,182 (2017 - £ 2,182 ) which is not |
depreciated. |
|
|
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Other debtors |
|
|
Prepayments & accrued income |
|
|
|
|
|
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Accrued expenses |
|
|
|
6. | RESERVES |
|
Maintenance fees received by this company are taken as Capital receipts and transfers will be made to |
and from the capital maintenance reserve each year to cover the year's actual expenses. |