ACCOUNTS - Final Accounts preparation

3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED - Company Information

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Registered number: 1043701

3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2018

3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED

REGISTERED NUMBER: 1043701

BALANCE SHEET

AS AT 31 DECEMBER 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	4		21,422		25,886
Current assets
Debtors: amounts falling due within one year	5	1,428		2,236
Cash at bank and in hand		3,881		6,040
		5,309		8,276
Creditors: amounts falling due within one year	6	(26,723)		(34,154)
Net current liabilities			(21,414)		(25,878)
Total assets less current liabilities			8		8

Net assets			8		8

Capital and reserves
Called up share capital	8	8
	8	8

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income and expenditure account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 September 2019.

Miss F R Crouch

Director

The notes on pages 2 to 4 form part of these financial statements.

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3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

1.	General information

3 Bryanston Square Tenants Management Company Limited is a private company, limited by shares, incorporated in England and Wales, with a company registration number 01043701. The registered office of the company is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, NR7 0HR.

2.Accounting policies

2.1

Basis of preparation of financial statements

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.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

Annual charges are made to each individual flat owner in order to cover anticipated communal costs for the coming year. Surpluses and deficits on the annual charge are carried forward within current lliabtilies for future specific repairs and maintenance costs to the properties. These funds are held in liabilities until required.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant & machinery	-	10%
				Other fixed assets	-	10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income and Expenditure Account.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Creditors

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.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2017 - £NIL).

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3 BRYANSTON SQUARE TENANTS MANAGEMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2018

4.	Tangible fixed assets

	Plant & machinery	Other fixed assets	Total
	£	£	£
Cost or valuation
At 1 January 2018	1,415	44,636	46,051
At 31 December 2018	1,415	44,636	46,051
Depreciation
At 1 January 2018	1,414	18,751	20,165
Charge for the year on owned assets	-	4,464	4,464
At 31 December 2018	1,414	23,215	24,629
Net book value
At 31 December 2018	1	21,421	21,422
At 31 December 2017	1	25,885	25,886

Debtors

					2018	2017
					£	£


Prepayments and accrued income	1,428	2,236

6.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Funds to be utilised	4,461	5,929
Capital reserve	21,422	25,885
Accruals and deferred income	840	2,340
	26,723	34,154

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