REGISTERED NUMBER: |
Abbreviated Unaudited Accounts |
for the Year Ended 31 March 2016 |
for |
Abbots Park Management Company Limited |
REGISTERED NUMBER: |
Abbreviated Unaudited Accounts |
for the Year Ended 31 March 2016 |
for |
Abbots Park Management Company Limited |
Abbots Park Management Company Limited (Registered number: 04677943) |
Contents of the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 3 |
Chartered Accountants' Report | 4 |
Abbots Park Management Company Limited |
Company Information |
for the Year Ended 31 March 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Abbots Park Management Company Limited (Registered number: 04677943) |
Abbreviated Balance Sheet |
31 March 2016 |
31.3.16 | 31.3.15 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 2 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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 profit or loss 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 were approved by the Board of Directors on |
Abbots Park Management Company Limited (Registered number: 04677943) |
Notes to the Abbreviated Accounts |
for the Year Ended 31 March 2016 |
1. | ACCOUNTING POLICIES |
Accounting convention |
The financial statements have been prepared under the historical cost convention. |
Revenue recognition |
Revenue is measured as the fair value of the consideration received or receivable and represents amounts |
receivable for services provided in the normal course of business net of value added tax. |
Deferred tax |
Deferred taxation is provided at the current rate on timing differences that have originated but not reversed |
by the balance sheet date. Deferred tax assets are recognised to the extent that it is more likely than not that |
the assets are recovered. Deferred tax assets and liabilities are not discounted. |
Taxation |
The taxation liabilities of certain group companies are reduced wholly or in part by the surrender of losses by |
fellow group companies. The tax benefits arising from group relief are not recognised in the accounts of the |
surrendering companies. |
Provisions |
A provision is recognised in the balance sheet when the company has a constructive or legal obligation as a |
result of a past event and it is probable that an outflow of economic benefits will be required to settle the |
obligation. If the effect is material, provisions are determined by discounting the expected future cash flows at |
the current time value of money. |
Related party transactions |
The company has taken advantage of the exemption under FRS 8 not to disclose transactions with related |
parties where those parties have 90% or more of their voting rights controlled within the group. |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.16 | 31.3.15 |
value: | £ | £ |
Ordinary | £1 |
Special Golden | £1 |
12 | 12 |
The Special share has the following rights:- |
General meetings - the holder of the Special share receives notice and is entitled to attend a meeting of the |
members of the company. Whilst the parent undertaking, Preston Brook Developments Limited holds the |
Special share the ordinary shareholders' shares carry no voting rights except the right on winding up of a |
return of capital paid up. |
Board meetings - the holder of the Special share may appoint directors of the company. |
Redemption - the Special share will be redeemable by the company on the later of the date on which 100% of |
the properties to be constructed on the site are complete or ten years from the adoption of the Articles. |
3. | ULTIMATE PARENT COMPANY |
The company's holding company is Preston Brook Developments Limited and its ultimate holding company is |
Ashall Asset Management Limited, the directors of which own sufficient share capital to control the company. |
Both companies are registered in England and Wales. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Abbots Park Management Company Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three) |
have been prepared. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Abbots Park Management Company Limited for the year ended 31 March 2016 which |
comprise the Profit and Loss Account, the Balance Sheet and the related notes 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 icaew.com/membershandbook. |
This report is made solely to the Board of Directors of Abbots Park Management Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abbots Park Management Company Limited and state those matters that we have agreed to state to the Board of Directors of Abbots Park Management Company Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Abbots Park Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbots Park Management Company Limited. You consider that Abbots Park 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 financial statements of Abbots Park 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 financial statements. |
Chartered Accountants |
1 August 2016 |