Oak Meadows Management Company Limited Company Accounts

OAK MEADOWS MANAGEMENT COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09499798

Oak Meadows Management Company Limited

Company Limited by Guarantee

Filleted Unaudited Financial Statements

31 March 2017

Oak Meadows Management Company Limited

Company Limited by Guarantee

Financial Statements

Year Ended 31 March 2017

Contents	Page

Officers and Professional Advisers	1

Directors' Report	2

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements	3

Statement of Financial Position	4

Notes to the Financial Statements	5

Oak Meadows Management Company Limited

Company Limited by Guarantee

Officers and Professional Advisers

The Board of Directors	D R Clark
	Mrs J L Clark

Registered Office	41 Greek Street
	Stockport
	Cheshire
	SK3 8QX

Accountants	Downham Mayer Clarke Limited
	Chartered Accountants
	41 Greek Street
	Stockport
	Cheshire
	SK3 8AX

Oak Meadows Management Company Limited

Company Limited by Guarantee

Directors' Report

Year Ended 31 March 2017

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2017 .

Directors

The directors who served the company during the year were as follows:

D R Clark
Mrs J L Clark

Small Company Provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 20 December 2017 and signed on behalf of the board by:

D R Clark

Director

Registered office:

41 Greek Street

Stockport

Cheshire

SK3 8QX

Oak Meadows Management Company Limited

Company Limited by Guarantee

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Oak Meadows Management Company Limited

Year Ended 31 March 2017

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 March 2017, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

Downham Mayer Clarke Limited Chartered Accountants

41 Greek Street Stockport Cheshire SK3 8AX

20 December 2017

Oak Meadows Management Company Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Current Assets

Debtors	5	342	550
Cash at bank and in hand		1,471	2,848
		-------	-------
		1,813	3,398

Creditors: amounts falling due within one year	6	1,564		3,373
		-------		-------
Net Current Assets			249	25
			----	----
Total Assets Less Current Liabilities			249	25
			----	----
Net Assets			249	25
			----	----

Capital and Reserves

Profit and loss account	249	25
	----	----
Members Funds	249	25
	----	----

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 income and retained earnings has not been delivered.

For the year ending 31 March 2017 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 were approved by the board of directors and authorised for issue on 20 December 2017 , and are signed on behalf of the board by:

D R Clark

Director

Company registration number: 09499798

Oak Meadows Management Company Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year Ended 31 March 2017

1. General Information

The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 41 Greek Street, Stockport, Cheshire, SK3 8QX.

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 the Republic of Ireland'.

3. Accounting Policies

Basis of Preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 19 March 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 8.

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 .

Revenue Recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income Tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

4. Company Limited by Guarantee

Oak Meadows Management Company Limited is a company limited by guarantee, incorporated under the Companies Act 2006.

Under the Company's Memorandum of Association every member of the Company undertakes to contribute such amounts as may be required (not exceeding £1) to the assets of the Company if it should be wound up while he is a member or within one year after he ceased to be a member, for payment of the Company's debts and liabilities contracted before he ceases to be a member, and of costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves.

5. Debtors

	2017	2016
	£	£
Trade debtors	342	–
Other debtors	–	550
	----	----
	342	550
	----	----

6. Creditors: amounts falling due within one year

	2017	2016
	£	£
Corporation tax	–	6
Amouts owed to connected companies	164	–
Other creditors	1,400	3,367
	-------	-------
	1,564	3,373
	-------	-------

7. Related Party Transactions

The company was under the control of Mr D R Clark throughout the current period. Included in other creditors is £ 20 owed to Y Developments Limited , a company with a common director. Included in other creditors is £ 144 owed to Prime Properties (Northwest) LLP , a company in which the directors are designated members.

8. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 19 March 2015.

No transitional adjustments were required in equity or profit or loss for the period.