ACCOUNTS - Final Accounts

MARITIME HOUSE MANAGEMENT CO LTD - Company Information

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Registered number: 04969696

MARITIME HOUSE MANAGEMENT CO LTD

(A COMPANY LIMITED BY GUARANTEE)

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2019

MARITIME HOUSE MANAGEMENT CO LTD

(A COMPANY LIMITED BY GUARANTEE)

REGISTERED NUMBER:04969696

STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	48,773		39,579
Cash at bank and in hand		48,678		38,145
		97,451		77,724
Creditors: amounts falling due within one year	5	(97,451)		(77,724)
Net current assets			-		-
Total assets less current liabilities			-		-

Net assets			-		-

Capital and reserves
	-	-

The directors consider 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 the Companies Act 2006.

The directors acknowledge their 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 statement of income and retained earnings 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 by:

Mr A Browne

Director

Date: 30 March 2020

The notes on pages 2 to 3 form part of these financial statements.

Page 1

MARITIME HOUSE MANAGEMENT CO LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

1.	General information

Maritime House Management Co Ltd is a private company limited by guarantee incorporated in England and Wales, registered number 04969696. The registered office is Senate Court, Southernhay Gardens, Exeter, EX1 1NT.

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

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:

Rendering of services

Revenue 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 revenue 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.

2.3

Interest income

Interest income is recognised in the Statement of income and retained earnings using the effective interest method.

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

Cash and cash equivalents

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.

Page 2

MARITIME HOUSE MANAGEMENT CO LTD

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

2.Accounting policies (continued)

2.6

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.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018: 2).

Debtors

					2019	2018
					£	£


Trade debtors	18,539	14,252
Other debtors	18,090	13,592
Prepayments and accrued income	12,144	11,735
	48,773	39,579

5.	Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2019	2018
		£	£

Trade creditors	1,534	3,665
Other creditors	56,777	49,764
Accruals and deferred income	39,140	24,295
	97,451	77,724


6.	Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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