Inholmes Orchard Residents Company Limited
Inholmes Orchard Residents Company Limited
Registered number: 01646674
Unaudited Financial Statements
For The Year Ended 31 December 2018
Inholmes Orchard Residents Company Limited
Unaudited Financial Statements
For The Year Ended 31 December 2018
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—4 |
Inholmes Orchard Residents Company Limited
Balance Sheet
As at
31 December 2018
Balance Sheet
Registered number:
01646674
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.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| CURRENT ASSETS | |||||
| Debtors | 3 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 4 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 5 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 86,250 | 83,674 | |||
Page 1
Inholmes Orchard Residents Company Limited
Balance Sheet (continued)
As at
31 December 2018
Directors' responsibilities:
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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 Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 4 form part of these financial statements.
Page 2
Inholmes Orchard Residents Company Limited
Notes to the Financial Statements
For The Year Ended 31 December 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
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.
2.
Average Number of Employees
The Company has no employees other than the directors, who did not receive any remuneration (2017 -
£NIL).
3.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 3,025 | 2,933 | |
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Page 3
Inholmes Orchard Residents Company Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2018
4.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Other creditors | 1,070 | 782 | |
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5.
Share Capital
| 2018 | 2017 | ||
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| Allotted, Called up and fully paid |
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6.
Related Party Transactions
Ian Pinney, a director and shareholder of the company, was paid £750 (2017 £nil) for secretarial work.
7.
General Information
Inholmes Orchard Residents Company Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01646674 . The registered office is Ware Court Flat 5 Ware Court, Ware Court, Burgess Hill, West Sussex, RH15 0TY.
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