Skyrac (St John's) Management Company Li - Accounts to registrar (filleted) - small 18.2

Skyrac (St John's) Management Company Li - Accounts to registrar (filleted) - small 18.2

SKYRAC (ST. JOHNS) MANAGEMENT COMPANY LIMITED - Company Information

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REGISTERED NUMBER: 01702356 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2020

for

Skyrac (St John's) Management
Company Limited
Skyrac (St John's) Management
Company Limited (Registered number: 01702356)






Contents of the Financial Statements
for the Year Ended 31 March 2020




Page

Balance Sheet 1

Notes to the Financial Statements 2


Skyrac (St John's) Management
Company Limited (Registered number: 01702356)

Balance Sheet
31 March 2020

31.3.20 31.3.19
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 17,080 17,080

CURRENT ASSETS
Debtors 5 10,859 7,835
Cash at bank 20,780 31,158
31,639 38,993
CREDITORS
Amounts falling due within one year 6 10,475 9,638
NET CURRENT ASSETS 21,164 29,355
TOTAL ASSETS LESS CURRENT
LIABILITIES
38,244
46,435

RESERVES
Capital reserve 19,668 19,668
Income and expenditure account 18,576 26,767
38,244 46,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6 November 2020 and
were signed on its behalf by:





Mrs H Fisher - Director


The notes form part of these financial statements

Page 1
Skyrac (St John's) Management
Company Limited (Registered number: 01702356)

Notes to the Financial Statements
for the Year Ended 31 March 2020

1. STATUTORY INFORMATION

Skyrac (St John's) Management Company Limited is a private company, limited by guarantee, registered in
England. its registered office is 2a Hodgson Crescent, Leeds, England, LS17 2PG and its registered number is
01702356.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents service charges receivable from tenants during the year.

Investment property
The investment property comprises garages let out to tenants. The rental income generated by the garages has
been consistent for a number of years. The directors are therefore of the opinion that the fair value of the garages
has also remained consistent at the figure of £17,080 shown in the accounts.

Taxation
The company is charged corporation tax at the standard rate on garage rents received less related expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2019
and 31 March 2020 17,080
NET BOOK VALUE
At 31 March 2020 17,080
At 31 March 2019 17,080

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Service charge owing 10,065 7,835
Corporation tax refund 794 -
10,859 7,835

Page 2 continued...
Skyrac (St John's) Management
Company Limited (Registered number: 01702356)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2020

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.20 31.3.19
£    £   
Service charge in advance 2,500 2,560
Garage deposits 3,465 3,465
Taxation and social security 835 794
Accrued expenses 3,675 2,819
10,475 9,638

Page 3