Kempton Court Residents Company Limited Filleted accounts for Companies House (small and micro)

Kempton Court Residents Company Limited Filleted accounts for Companies House (small and micro)

KEMPTON COURT RESIDENTS COMPANY LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04090323
Kempton Court Residents Company Limited
Filleted unaudited financial statements
31 December 2018
Kempton Court Residents Company Limited
Financial statements
year ended 31 December 2018
Contents
Pages
Officers and professional advisers
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 6
Kempton Court Residents Company Limited
Officers and professional advisers
Director
A J Coleman
Registered office
P O Box 332
Church Street
Hampton
Middlesex
TW12 9DJ
Accountants
West Wake Price LLP
Chartered Accountants
4 City Road
London
EC1Y 2AA
Kempton Court Residents Company Limited
Statement of financial position
31 December 2018
2018
2017
Note
£
£
£
Current assets
Debtors
4
1,150
3,900
Cash at bank and in hand
8,311
4,689
-------
-------
9,461
8,589
Creditors: amounts falling due within one year
5
2,850
2,471
-------
-------
Net current assets
6,611
6,118
-------
-------
Total assets less current liabilities
6,611
6,118
-------
-------
Net assets
6,611
6,118
-------
-------
Capital and reserves
Called up share capital
7
110
110
Cumulative surplus on service charges
6,501
6,008
-------
-------
Shareholder funds
6,611
6,118
-------
-------
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 comprehensive income has not been delivered.
For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Kempton Court Residents Company Limited
Statement of financial position (continued)
31 December 2018
These financial statements were approved by the board of directors and authorised for issue on 15 April 2019 , and are signed on behalf of the board by:
A J Coleman
Director
Company registration number: 04090323
Kempton Court Residents Company Limited
Notes to the financial statements
year ended 31 December 2018
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is P O Box 332, Church Street, Hampton, Middlesex, TW12 9DJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, '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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Income recognition
Income represents the service charges receivable during the year to defray the costs of managing and maintaining the main structures of the apartments and the common lands.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2018
2017
£
£
Trade debtors
1,150
3,900
-------
-------
5. Creditors: amounts falling due within one year
2018
2017
£
£
Trade creditors
–
341
Accruals and deferred income
1,200
1,170
Other creditors
1,650
960
-------
-------
2,850
2,471
-------
-------
6. Financial instruments at fair value
2018
2017
£
£
Financial assets measured at fair value through profit or loss
Cash at bank
8,311
4,690
Trade debtors
1,150
3,900
-------
-------
9,461
8,590
-------
-------
Financial liabilities measured at fair value through profit or loss
Trade creditors
–
342
Accruals
1,200
1,170
-------
-------
1,200
1,512
-------
-------
7. Called up share capital
Issued, called up and fully paid
2018
2017
No.
£
No.
£
Ordinary 'A' shares of £ 10 each
2
20.00
2
20.00
Ordinary 'B' shares of £ 10 each
9
90.00
9
90.00
----
---------
----
---------
11
110.00
11
110.00
----
---------
----
---------
Both 'A' and 'B' ordinary shares have the following common features: - the company shall not declare any dividend on any of its surplus. - there are no redemption provision. - in the event of a winding up the shareholders may only receive the amount of capital paid up in respect of the shares held by them. The 'A' shares have no voting rights.
8. Related party transactions
Management expenses in the sum of £2,381 (2017:£2,381) were paid to Honeystone Traders Limited which is owned by A J Coleman .
9. Long-term lease
The company holds the lease over the manager's land and remain structures of the property known as Kempton Court in Staines Road East, Sunbury on Thames, Surrey for a period of 125 years from 1 January 2001.
10. Going concern
In the course of preparing the financial statements for the year ended 31 December 2018 the director has assessed whether the company is a going concern. The director has considered all available information about the future and will ensure that the company has adequate resources available to finance its activities and other obligations during the course of the next twelve months and, therefore, no material uncertainties have been identified by the director that may cast any significant doubt about the ability of the company to continue as a going concern.