Malcolm Court Management (Polegate) Ltd - Period Ending 2020-03-31

Malcolm Court Management (Polegate) Ltd

Contents

Company Information	1
Director's Report	2
Accountants' Report	3
Abridged Profit and Loss Account	4
Statement of Comprehensive Income	5
Abridged Balance Sheet	6
Statement of Changes in Equity	7
Notes to the Unaudited Abridged Financial Statements	8 to 11

Malcolm Court Management (Polegate) Ltd

Company Information

Director

Mrs Patricia Ellen Poole

Registered office

65 Victoria Road Polegate East Sussex BN26 6BY

Accountants

Hogarth Business Services Ltd 65 Victoria Road Polegate East Sussex BN26 6BY

Malcolm Court Management (Polegate) Ltd

Director's Report for the Year Ended 31 March 2020

The director presents her report and the abridged financial statements for the year ended 31 March 2020.

Director of the company

The director who held office during the year was as follows:

Mrs Patricia Ellen Poole

Principal activity

The principal activity of the company is Property Management

Small companies provision statement

This report has 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.

Approved by the director on 14 October 2020 and signed on its behalf by:

.........................................
Mrs Patricia Ellen Poole
Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Malcolm Court Management (Polegate) Ltd
for the Year Ended 31 March 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Malcolm Court Management (Polegate) Ltd for the year ended 31 March 2020 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Malcolm Court Management (Polegate) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Malcolm Court Management (Polegate) Ltd and state those matters that we have agreed to state to the Board of Directors of Malcolm Court Management (Polegate) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Malcolm Court Management (Polegate) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Malcolm Court Management (Polegate) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Malcolm Court Management (Polegate) Ltd. You consider that Malcolm Court Management (Polegate) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Malcolm Court Management (Polegate) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Hogarth Business Services Ltd
65 Victoria Road
Polegate
East Sussex
BN26 6BY

14 October 2020

Malcolm Court Management (Polegate) Ltd

Abridged Profit and Loss Account for the Year Ended 31 March 2020

	Note	2020 £	2019 £
Gross profit		9,735	9,671
Administrative expenses		(8,562)	(6,439)
Other interest receivable and similar income		44	37
Profit before tax		1,217	3,269
Profit for the financial year		1,217	3,269

The above results were derived from continuing operations.

Malcolm Court Management (Polegate) Ltd

Statement of Comprehensive Income for the Year Ended 31 March 2020

	2020 £	2019 £
Profit for the year	1,217	3,269
Total comprehensive income for the year	1,217	3,269

Malcolm Court Management (Polegate) Ltd

(Registration number: 0705387)
Abridged Balance Sheet as at 31 March 2020

	Note	2020 £	2019 £
Current assets
Cash at bank and in hand		7,448	5,759
Prepayments and accrued income		1,668	2,069
Creditors: Amounts falling due within one year		(628)	(567)
Total assets less current liabilities		8,488	7,261
Accruals and deferred income		(340)	(330)
Net assets		8,148	6,931
Capital and reserves
Called up share capital	4	40	40
Profit and loss account		8,108	6,891
Shareholders' funds		8,148	6,931

For the financial year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 14 October 2020
 

.........................................

Mrs Patricia Ellen Poole

Director

Malcolm Court Management (Polegate) Ltd

Statement of Changes in Equity for the Year Ended 31 March 2020

	Share capital £	Profit and loss account £	Total £
At 1 April 2019	40	6,891	6,931
Profit for the year	-	1,217	1,217
Total comprehensive income	-	1,217	1,217
At 31 March 2020	40	8,108	8,148

	Share capital £	Profit and loss account £	Total £
At 1 April 2018	40	2,477	2,517
Prior period adjustment	-	1,145	1,145
At 1 April 2018 (As restated)	40	3,622	3,662
Profit for the year	-	3,269	3,269
Total comprehensive income	-	3,269	3,269
At 31 March 2019	40	6,891	6,931

Malcolm Court Management (Polegate) Ltd

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

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
65 Victoria Road
Polegate
East Sussex
BN26 6BY
United Kingdom

These financial statements were authorised for issue by the director on 14 October 2020.

2	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 have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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.

Malcolm Court Management (Polegate) Ltd

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

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.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2019 - 0).

4	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £1 each	40	40	40	40

5

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

6	Transition to FRS 102

Balance Sheet at 1 April 2018
 

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Total equity	-	-	-	-

Malcolm Court Management (Polegate) Ltd

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

Balance Sheet at 31 March 2019
 

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Capital and reserves
Total equity	-	-	-	-

Malcolm Court Management (Polegate) Ltd

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

Profit and Loss Account for the year ended 31 March 2019
 

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Turnover	-	-	-	-
Operating profit/(loss)	-	-	-	-
Profit/(loss) before tax	-	-	-	-
Profit/(loss) for the financial year	-	-	-	-