Abbey Meadows Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Devonshire House, 60 Goswell Road, London, EC1M 7AD.
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
These financial statements for the year ended 30 June 2017 are the first financial statements of Abbey Meadows Management Company Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 July 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
In accordance with the transitional exemption in section 35 of FRS 102, Abbey Meadows Management Company Limited has elected to retain its accounting policies for reported assets, liabilities and equity before the date of transition to FRS 102.
The company has not traded during the year or the preceding financial period. During this time the company received no income and incurred no expenditure and therefore no Profit and Loss Account is presented in these financial statements.
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.