Ballyallaght Farmyard Cottages Management Company Limited - Period Ending 2020-04-30

Ballyallaght Farmyard Cottages Management Company Limited

Director's Report for the Year Ended 30 April 2020

The director presents his report and the financial statements for the year ended 30 April 2020.

Director of the company

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

Mr Seymour Sweeney

Statement of Director's Responsibilities

The director acknowledges his responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006 and are in accordance with FRS 102 Section 1A The Financial Reporting Standard applicable to the Small Entities Regime. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Principal activity

The principal activity of the company is the management of communal areas in the housing development known as Ballyallaght Farm Yard Cottages, Bushmills. The company is a non profit making organisation.

Director
At 30 April 2020 the director did not have any beneficial interest in the shares of the Company.

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.

Ballyallaght Farmyard Cottages Management Company Limited

Director's Report for the Year Ended 30 April 2020

Approved by the director on 9 February 2021 and signed on its behalf by:

.........................................
Mr Seymour Sweeney
Director

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ballyallaght Farmyard Cottages Management Company Limited
for the Year Ended 30 April 2020

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Ballyallaght Farmyard Cottages Management Company Limited for the year ended 30 April 2020 as set out on pages 4 to 8 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 Ireland, we are subject to its ethical and other professional requirements which are laid down by the Institute relating to members undertaking the compilation of financial statements.

This report is made solely to the Board of Directors of Ballyallaght Farmyard Cottages Management Company Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them, in this report in accordance with technical guidance issued by the Institute. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Ballyallaght Farmyard Cottages Management Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ballyallaght Farmyard Cottages Management Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Ballyallaght Farmyard Cottages Management Company Limited. You consider that Ballyallaght Farmyard Cottages Management Company Limited 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 Ballyallaght Farmyard Cottages Management Company Limited. 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.

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

Stevenson and Wilson
22-30 Broadway Avenue
Ballymena
Co. Antrim
BT43 7AA

9 February 2021

Ballyallaght Farmyard Cottages Management Company Limited

Profit and Loss Account for the Year Ended 30 April 2020

	2020 £	2019 £
Income from residents	7,862	4,243
Other operating charges	(7,862)	(4,243)
Net incoming resources	-	-

Ballyallaght Farmyard Cottages Management Company Limited

(Registration number: NI050277)
Balance Sheet as at 30 April 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	172	2,052
Cash at bank and in hand		7,180	6,657
		7,352	8,709
Creditors: Amounts falling due within one year	5	(7,332)	(8,689)
Net assets		20	20
Capital and reserves
Called up share capital	6	20	20
Total equity		20	20

For the financial year ending 30 April 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 his 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.

Approved and authorised by the director on 9 February 2021
 

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

Mr Seymour Sweeney
Director

Ballyallaght Farmyard Cottages Management Company Limited

Statement of Changes in Equity for the Year Ended 30 April 2020

	Share capital £	Total £
At 1 May 2019	20	20
At 30 April 2020	20	20

	Share capital £	Total £
At 1 May 2018	20	20
At 30 April 2019	20	20

Ballyallaght Farmyard Cottages Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2020

1	General information

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

The address of its registered office is: The Old Barn, 6 Seaport Avenue, Portballintrae, Co Antrim, BT57 8SB.

These financial statements were authorised for issue by the director on 9 February 2021.

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 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 financial statements have been prepared using the historical cost convention.

Revenue recognition

Income represents total amounts due from the residents to cover expenses of the company for the accounting period.

Net incoming resources are stated after writing off revenue costs as incurred.

Amounts outstanding from residents

Amounts outstanding from residents are amounts due in reimbursement of company expenses incurred during the period along with an amount requested in advance to enable the company to meet liabilities as they fall due. Amounts outstanding are recognised initially at the transaction price. A provision for impairment is established when there is objective evidence that the company will not be able to collect all amounts due from the resident concerned. In this situation the remaining residents are required to meet the shortfall.

Expense payments outstanding

Expense payments outstanding are obligations to pay for goods or services that have been acquired for the benefit of the residents. 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 represented as non-current liabilities. Creditors are recognised initially at the transaction price.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Ballyallaght Farmyard Cottages Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2020

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 1 (2019 - 1).

4

Debtors

	2020 £	2019 £
Prepayments	152	152
Other debtors	20	1,900
	172	2,052

5

Creditors

	2020 £	2019 £
Due within one year
Expense payments outstanding	295	157
Advance deposits	6,377	7,932
Accruals	660	600
	7,332	8,689

6	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary shares of £1 each	20	20	20	20

Ballyallaght Farmyard Cottages Management Company Limited

Detailed Profit and Loss Account for the Year Ended 30 April 2020

	2020  £	2019  £
Turnover	7,862	4,243
Administrative expenses
Effluent disposal	773	759
Heat and light	1	3
Insurance	305	305
Repairs and maintenance	2,033	-
Sundry expenses	805	612
Landscaping	2,425	1,470
Administration charge	770	452
Accountancy fees	750	642
	(7,862)	(4,243)
Net incoming resources for the period	-	-
Balance brought forward	-	-
Balance carried forward 30th April 2020	-	-