Registration number:
24 St Andrews Road Limited
for the Year Ended 31 December 2018
24 St Andrews Road Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Abridged Financial Statements |
24 St Andrews Road Limited
Company Information
Directors |
Mr Michael Clive Norman Mr Peter Bonham Selwyn Bazeley Miss Margot Louise Barclay |
Company secretary |
Miss Margot Louise Barclay |
Registered office |
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Solicitors |
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Accountants |
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Page 1 |
24 St Andrews Road Limited
(Registration number: 05743165)
Abridged Balance Sheet as at 31 December 2018
Note |
2018 |
2017 |
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Fixed assets |
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Tangible assets |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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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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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2018 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.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
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Miss Margot Louise Barclay
Company secretary and director
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24 St Andrews Road Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2018
General information |
The company is limited by shares incorporated in England within the United Kingdom. The address of the registered office is given in the company information on page 1 of these financial statements.
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 abridged financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged 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.
Revenue recognition
Turnover represents the service charges payable by the occupants of the residential units situated at 24 St Andrews Road, Bridport, Dorset, DT6 3BG in respect of the maintenance and overhead expenses of the common equipment installed in the complex, and the other overheads incurred by the Company.
Tax
HM Revenue and Customs have agreed that the Company is to be treated as mutually trading and is not therefore liable to Corporation Tax on any operating profit. Accordingly, no provisions are required for Corporation Tax or Deferred Tax.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
The freehold of the managed flats is not depreciated; this is at historic cost and the directors consider the value will be maintained.
Asset class |
Depreciation method and rate |
Land buildings and freehold |
not depreciated - see note above |
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.
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24 St Andrews Road Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2018
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Tangible assets |
Land and buildings |
Total |
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Cost or valuation |
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At 1 January 2018 |
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At 31 December 2018 |
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Depreciation |
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Carrying amount |
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At 31 December 2018 |
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At 31 December 2017 |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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Ordinary shares of £1 each |
3 |
3 |
3 |
3 |
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