ESMONDE_DRIVE_RESIDENTS_C - Accounts

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Esmonde Drive Residents Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/O Omnicroft Limited, 33 Station Road, Rainham, Gillingham, Kent, ME8 7RS.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price.

Equity instruments issued by the company are recorded at the proceeds received.

Status

During the year the company has acted as agent for the lessees of the property at 1-9 Tollemache Close, 1-12 and 14-17 Beaumont Close, 1-12 and 14-19 Musgrave Close, 1-12 and 14-17 Esmonde Drive, Manston, Kent, CT12 5LX. The funds in relation to the maintenance of the property are held in trust. As at 31 March 2020 the cash balance held on behalf of the lessees amounted to £29,619.

The company therefore has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts and are not filed at Companies House. The accounts can be obtained from Esmonde Drive Residents Company Limited.