Caseware UK (AP4) 2016.0.181 2016.0.181 2017-03-31 2017-03-31 The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. false true No description of principal activity false 2016-04-01 04152175 2016-04-01 2017-03-31 04152175 2015-04-01 2016-03-31 04152175 2017-03-31 04152175 2016-03-31 04152175 c:CompanySecretary1 2016-04-01 2017-03-31 04152175 c:Director2 2016-04-01 2017-03-31 04152175 c:Director4 2016-04-01 2017-03-31 04152175 c:Director5 2016-04-01 2017-03-31 04152175 c:Director6 2016-04-01 2017-03-31 04152175 c:RegisteredOffice 2016-04-01 2017-03-31 04152175 d:PlantMachinery 2016-04-01 2017-03-31 04152175 d:PlantMachinery 2017-03-31 04152175 d:PlantMachinery 2016-03-31 04152175 d:PlantMachinery d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 04152175 d:OfficeEquipment 2016-04-01 2017-03-31 04152175 d:OfficeEquipment 2017-03-31 04152175 d:OfficeEquipment 2016-03-31 04152175 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 04152175 d:OwnedOrFreeholdAssets 2016-04-01 2017-03-31 04152175 d:CurrentFinancialInstruments 2017-03-31 04152175 d:CurrentFinancialInstruments 2016-03-31 04152175 d:Non-currentFinancialInstruments 2016-03-31 04152175 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 04152175 d:CurrentFinancialInstruments d:WithinOneYear 2016-03-31 04152175 d:Non-currentFinancialInstruments d:AfterOneYear 2016-03-31 04152175 d:RetainedEarningsAccumulatedLosses 2017-03-31 04152175 d:RetainedEarningsAccumulatedLosses 2016-03-31 04152175 c:FRS102 2016-04-01 2017-03-31 04152175 c:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 04152175 c:FullAccounts 2016-04-01 2017-03-31 04152175 c:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31 iso4217:GBP xbrli:pure

Registered number:  04152175










FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED
(A company limited by guarantee)








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED
 
(A company limited by guarantee)
 
 
COMPANY INFORMATION


T S McNiece  
R B W Richardson  
Mrs E M M Lawson  
Mrs K Borrello  




B Sharp



04152175



71 New Dover Road

Canterbury

Kent

CT1 3DZ




MHA MacIntyre Hudson
Chartered Accountants

71 New Dover Road

Canterbury

Kent

CT1 3DZ





 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED
 
(A company limited by guarantee)
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7


 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER:  04152175

BALANCE SHEET
AS AT  31 MARCH 2017

2017
2016
Note
£
£
   

Tangible assets
 5 
20,498
22,936

   
20,498
22,936

Current assets
   

Debtors: amounts falling due within one year
 6 
18,515
18,894

Cash at bank and in hand
 7 
2,160
2,461

   
20,675
21,355

Creditors: amounts falling due within one year
 8 
(68,452 )
(74,589 )

Net current liabilities
   
 
 
(47,777 )
 
 
(53,234 )

Total assets less current liabilities
   
(27,279 )
(30,298 )

Creditors: amounts falling due after more than one year
 9 
-
(2,533 )

   

Net liabilities
   
(27,279 )
(32,831 )

Capital and reserves
   

Profit and loss account
   
(27,279 )
(32,831 )

   
(27,279 )
(32,831 )


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The  financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on  30 November 2017 .



R B W Richardson
Page 1

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED
 
(A company limited by guarantee)
REGISTERED NUMBER:  04152175
    
BALANCE SHEET  (CONTINUED)
AS AT  31 MARCH 2017

Director
The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

General information

Folkestone Town Centre Management Limited is a company limited by guarantee incorporated in England and Wales within the United Kingdom. The address of the registered office and principal of business is given in the company information page of these financial statements. 
The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £1.

2. Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of  Financial Reporting Standard 102, the Financial Reporting Standard applicable in  the UK and the Republic of Ireland and the Companies Act 2006 .

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

Information on the impact of first time adoption of FRS102 1A is given in note 11 .

The following principal accounting policies have been applied:

2.2

Going concern

The finanacial statements are prepared on the basis that the company will continue in operational existence for the forseeable future. This means, in particular, that the Profit and Loss Account and the Balance Sheet assume no intention or necessity to liquidate or curtail significantly the scale of operation. The financial statements have been prepared on this basis given the continuing financial support of the directors.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

2. Accounting policies (continued)

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Radios,plant and machinery
-
10% on reducing balance
Computer equipment
-
33.33% on reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

Page 4

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017

2. Accounting policies (continued)

2.10

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

No judgements have been made in the process of applying the above accounting policies that have had a significant effect on the amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertanity at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

The average monthly number of employees, including directors, during the year was  5  (2016 -  5 ) .

Page 5

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017




Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2016
78,174
4,070
82,244



At 31 March 2017

78,174
4,070
82,244



Depreciation


At 1 April 2016
55,860
3,448
59,308


Charge for the year on owned assets
2,231
207
2,438



At 31 March 2017

58,091
3,655
61,746



Net book value



At 31 March 2017
20,083
415
20,498



At 31 March 2016
22,314
622
22,936

2017
2016
£
£


Trade debtors
14,087
17,211

Tax recoverable
728
496

Prepayments and accrued income
3,700
1,187

18,515
18,894


2017
2016
£
£

Cash at bank and in hand
2,160
2,461

Less: bank overdrafts
(11,774 )
(13,280 )

(9,614 )
(10,819 )


Page 6

 
FOLKESTONE TOWN CENTRE MANAGEMENT LIMITED

(A company limited by guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2017
2017
2016
£
£

Bank overdrafts
11,774
13,280

Other loans
30,534
30,534

Trade creditors
2,708
8,883

Other taxation and social security
12
5,592

Other creditors and accruals
23,424
16,300

68,452
74,589


2017
2016
£
£

Other taxation and social security

PAYE/NI control
-
2,894

VAT
12
2,698

12
5,592


2017
2016
£
£

Bank loans
-
2,533

-
2,533



10.

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

 
Page 7