Artillery Row Management Company Limited - Period Ending 2017-04-30

Registration number: 03183620

Artillery Row Management Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2017

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Artillery Row Management Company Limited
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Artillery Row Management Company Limited for the year ended 30 April 2017 as set out on pages 2 to 4 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/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Artillery Row Management Company Limited, 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 Artillery Row Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Artillery Row Management Company Limited, 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 Artillery Row 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 Artillery Row 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 profit of Artillery Row Management Company Limited. You consider that Artillery Row 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 Artillery Row 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.

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

MMO Limited
Chartered Accountants
Wellesley House
204 London Road
Waterlooville
Hampshire
PO7 7AN

20 November 2017

Artillery Row Management Company Limited

(Registration number: 03183620)
Balance Sheet as at 30 April 2017

	Note	2017 £	2016 £
Current assets
Debtors	4	3,374	2,501
Cash at bank and in hand		3,152	3,903
		6,526	6,404
Creditors: Amounts falling due within one year	5	(6,524)	(6,402)
Net assets		2	2
Capital and reserves
Called up share capital		2	2
Total equity		2	2

For the financial year ending 30 April 2017 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 17 November 2017
 

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

Mr J P Lumb

Director

The notes on pages 3 to 4 form an integral part of these financial statements.

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Artillery Row Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

1	General information

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

The address of its registered office is:
31 Hollow Lane
Hayling Island
Hampshire
PO11 9EX
United Kingdom

The principal place of business is:
Unit 1 Artillery Row
Ackworth Road Trading Estate
Hilsea
Portsmouth
Hampshire
PO3 5HU
England

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These 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.

All figures are presented in British Stirling, which is the functional currency of the company, and are rounded to the nearest £1.

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.

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Artillery Row Management Company Limited

Notes to the Financial Statements for the Year Ended 30 April 2017

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

There were no persons employed (including directors) during this year or the preceding year.

4

Debtors

	2017 £	2016 £
Trade debtors	3,374	2,906
Other debtors	-	(405)
Total current trade and other debtors	3,374	2,501

5

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		1,749	2,274
Taxation and social security		24	-
Other creditors		4,751	4,128
		6,524	6,402

6	Transition to FRS 102

This is the first year the company has presented its financial statements under Financial Reporting Standard 102 Section 1A (FRS 102) issued by the Financial Reporting Council. The last financial statements, for the year ended 30 April 2016, were prepared under the Financial Reporting Standard for Smaller Entities effective January 2015 (FRSSE 2015). The transition date to FRS 102 was 01 May 2016.

There were no material adjustments required on transition to FRS102 and as such it has not been necessary to restate prior year comparatives following the implementation of FRS102.

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