The Quays (Exeter) Estate Management Company Limited 30/06/2020 iXBRL

The Quays (Exeter) Estate Management Company Limited 30/06/2020 iXBRL

THE QUAYS (EXETER) ESTATE MANAGEMENT COMPANY LIMITED - Company Information

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30/06/2020 2020-06-30 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2019-07-01 Sage Accounts Production 19.0 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 04011378 2019-07-01 2020-06-30 04011378 2020-06-30 04011378 2019-06-30 04011378 bus:Director3 2019-07-01 2020-06-30 04011378 core:WithinOneYear 2020-06-30 04011378 core:WithinOneYear 2019-06-30 04011378 core:RetainedEarningsAccumulatedLosses 2020-06-30 04011378 core:RetainedEarningsAccumulatedLosses 2019-06-30 04011378 bus:SmallEntities 2019-07-01 2020-06-30 04011378 bus:AuditExemptWithAccountantsReport 2019-07-01 2020-06-30 04011378 bus:FullAccounts 2019-07-01 2020-06-30 04011378 bus:SmallCompaniesRegimeForAccounts 2019-07-01 2020-06-30 04011378 bus:CompanyLimitedByGuarantee 2019-07-01 2020-06-30 04011378 core:OtherCapitalReserve 2020-06-30
Company registration number: 04011378
The Quays (Exeter) Estate Management Company Limited
Company limited by guarantee
Unaudited filleted financial statements
30 June 2020
THE QUAYS (EXETER) ESTATE MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
Contents
Statement of financial position
Notes to the financial statements
THE QUAYS (EXETER) ESTATE MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 JUNE 2020
2020 2019
Note £ £ £ £
Current assets
Debtors 6 8,738 8,410
Cash at bank and in hand 52,227 76,932
_______ _______
60,965 85,342
Creditors: amounts falling due
within one year 7 ( 7,152) ( 8,887)
_______ _______
Net current assets 53,813 76,455
_______ _______
Total assets less current liabilities 53,813 76,455
_______ _______
Net assets 53,813 76,455
_______ _______
Capital and reserves
Interest account 8 6,000 6,000
Redecoration reserve 8 14,000 14,000
Profit and loss account 8 33,813 56,455
_______ _______
Members funds 53,813 76,455
_______ _______
For the year ending 30 June 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 October 2020 , and are signed on behalf of the board by:
Mr T J S Hugill
Director
Company registration number: 04011378
THE QUAYS (EXETER) ESTATE MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 JUNE 2020
1. General information
The company is a private company limited by guarantee, registered in UK. The address of the registered office is 20 Queen Street, Exeter, EX4 3SN.
Principal activity
The principal activity of the company was property management.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and in accordance with applicable accounting standards.The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Service charges receivable represents the amounts levied as service charges on account of expenditure incurred by the company during the year. Any excess of service charges received over expenditure incurred is carried forward as residents' reserve.
Taxation
The company is a flat management company run for its members and as such is a not for profit company and is not subject to taxation. Neither tax nor deferred tax is recognised.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Limited by guarantee
The company is limited by guarantee having no share capital. In the event of the company being wound up the liability of each member is limited to £1.
5. Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to Nil (2019: Nil).
6. Debtors
2020 2019
£ £
Prepayments and accrued income 8,701 8,373
Other debtors 37 37
_______ _______
8,738 8,410
_______ _______
7. Creditors: amounts falling due within one year
2020 2019
£ £
Accruals and deferred income 7,152 8,887
_______ _______
8. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.