Highlands Village Hall Management Association Limited Accounts

HIGHLANDS VILLAGE HALL MANAGEMENT ASSOCIATION LIMITED - Company Information






Highlands Village Hall Management Association Limited

	Company No. 06435955
		Information for Filing with The Registrar
		31 August 2018

at	31 August 2018
Company No.		06435955	Notes	2018	2017
				£	£
Fixed assets

	Tangible assets		2	31,206	16,422


				31,206	16,422
Current assets

	Debtors		3	1,027	1,245

	Cash at bank and in hand			71,806	81,889
				72,833	83,134
Creditors: Amount falling due within one year			4	(47,547)	(36,385)
Net current assets				25,286	46,749
Total assets less current liabilities				56,492	63,171




Net assets				56,492	63,171

Reserves


	Income and expenditure account			56,492	63,171

Total equity				56,492	63,171


These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 August 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the 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 accounts.

As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's income and expenditure account.

Approved by the board on 31 August 2018

And signed on its behalf by:

Julie Kenan
Director
31 August 2018

for the year ended 31 August 2018

Accounting policies

Basis of preparation

The accounts have been prepared in accordance with FRS 102 - The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the Companies Act 2006 . There were no material departures from that standard.

The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.

The accounts are presented in Sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Intangible fixed assets

Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Leasehold land and buildings

18% Reducing balance

Furniture, fittings and equipment

18% Reducing balance

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income and expenditure account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

2	Tangible fixed assets
			Land and buildings	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 September 2017	7,741	33,965	41,706
		Additions	18,730	715	19,445



		At 31 August 2018	26,471	34,680	61,151
		Depreciation
		At 1 September 2017	1,348	23,936	25,284
		Charge for the year	2,512	2,149	4,661



		At 31 August 2018	3,860	26,085	29,945
		Net book values
		At 31 August 2018	22,611	8,595	31,206
		At 31 August 2017	6,393	10,029	16,422

3	Debtors
			2018	2017
			£	£






		Other debtors	1,027	-
		Prepayments and accrued income	-	1,245
			1,027	1,245

4	Creditors:
		amounts falling due within one year
			2018	2017
			£	£



		Trade creditors	36,544	26,812





		Accruals and deferred income	11,003	9,573
			47,547	36,385

Reserves

Income and expenditure account - includes all current and prior period retained surpluses and deficits.

Additional information

Its registered number is:

06435955

5 Florey Square

Winchmore Hill

London

N21 1UJ