The Bowls Residents Association Limited - Limited company accounts 18.2

REGISTERED NUMBER: 00918597 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 March 2019

for

The Bowls Residents Association Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTORS:

M Hart

S Brattman

S Davis

M I Rackind

Mrs S Turze

I Green

D Bonley

E Smith

P Kaye

T Gevertz

SECRETARY:

D Bonley

REGISTERED OFFICE:

Estate Office

The Bowls

Vicarage Lane

Chigwell

Essex

IG7 6ND

REGISTERED NUMBER:

00918597 (England and Wales)

ACCOUNTANT:

Danny Daniels FCA

18 Oakleigh Park North

London

N20 9AR

The directors present their report with the financial statements of the company for the year ended 31 March 2019.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the management of The Bowls

estate.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2018 to the date of

this report.

M Hart

S Brattman

S Davis

M I Rackind

Mrs S Turze

I Green

D Bonley

E Smith

P Kaye

Other changes in directors holding office are as follows:

V Best - resigned 13 June 2018

T Gevertz - appointed 8 August 2018

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006

relating to small companies.

ON BEHALF OF THE BOARD:

D Bonley - Director

3 September 2019

TURNOVER

358,105

393,904

Management costs

324,531

359,645

GROSS SURPLUS

33,574

34,259

Corporate expenses

14,738

21,937

OPERATING SURPLUS

3

18,836

12,322

Interest receivable and similar income

1,108

922

SURPLUS BEFORE TAXATION

19,944

13,244

Tax on surplus

2,946

2,853

SURPLUS FOR THE FINANCIAL YEAR

16,998

10,391

FIXED ASSETS

Tangible assets

4

59,957

40,115

CURRENT ASSETS

Debtors

5

11,915

8,757

Cash at bank and in hand

6

268,795

237,913

280,710

246,670

CREDITORS

Amounts falling due within one year

7

56,646

37,962

NET CURRENT ASSETS

224,064

208,708

TOTAL ASSETS LESS CURRENT LIABILITIES

284,021

248,823

CREDITORS

Amounts falling due after more than one year

8

154,700

136,500

NET ASSETS

129,321

112,323

RESERVES

Income and expenditure account

9

129,321

112,323

129,321

112,323

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18 October 2019 and were signed on its behalf by:

D Bonley - Director

1.	STATUTORY INFORMATION

The Bowls Residents Association Limited is a private company, limited by guarantee , registered in

England and Wales. The company's registered number and registered office address can be found

on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover consists of ground rents and other rents receivable, together with maintenance and other

charges.

Tangible fixed assets

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is

provided at rates calculated to write off the cost less residual value of each asset over its expected

useful life, as follows:

Plant and equipment 25% reducing balance

The freehold property, which is subject to flat leases, mainly for terms exceeding 950 years, has been

included at the original cost less the apportioned cost for ground rent conversions, written off at the

time of their conversion. The resulting balance represents its estimated residual life. The purchase of

the freehold land in the year to 31st March 1998 is included at cost. Improvements are depreciated at

10%/20% (2018 10%/20%) straight line.

Taxation

Taxation for the year comprises current tax. Current tax is recognised at the amount of tax payable

using the tax rates and laws that have been enacted or substantively enacted by the balance sheet

date.

3.	OPERATING SURPLUS

The operating surplus is stated after charging:

31/3/19

31/3/18

£

£

Depreciation - owned assets

10,985

8,744

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

Equipment

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

84,791

144,893

229,684

Additions

30,827

-

30,827

At 31 March 2019

115,618

144,893

260,511

DEPRECIATION

At 1 April 2018

51,900

137,669

189,569

Charge for year

9,167

1,818

10,985

At 31 March 2019

61,067

139,487

200,554

NET BOOK VALUE

At 31 March 2019

54,551

5,406

59,957

At 31 March 2018

32,891

7,224

40,115

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/19

31/3/18

£

£

Other debtors

11,915

8,757

6.	CASH AT BANK AND IN HAND

Management accounts

83755

82647

Corporate & Reserve

184878

155051

Cash in hand

162

215

268795

237913

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Taxation

2946

2902

Social security and other taxes

1803

1633

Amounts due to lessees

22771

7035

Deferred income

10521

10521

Other creditors

18605

15871

56646

37962

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Emergency/Reserve Funds

154700

136500

General

20020

20020

Block A

29600

25600

Block B

29600

25600

Block C

19240

16640

Block D

20720

17920

Block E

35520

30720

154700

136500

9.

RESERVES

At 1 April 2018

112323

101932

Surplus for the year

16998

10391

At 31 March 2019

129321

112323

10.	LIMITED BY GUARANTEE

The company is limited by guarantee with no share capital. In the event of the company being wound

up, each of the ninety one members is liable to make a contribution not exceeding £100.