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 2020

The Directors present their report and the accounts for the year ended 31 August 2020.

Principal activities
The principal activity of the company during the year under review was management of local hall.




Directors

The Directors who served at any time during the year were as follows:

Julie Kenan
Stanley Rondeau


































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

Julie Kenan
Director
11 December 2020

at	31 August 2020
Company No.		06435955	Notes	2020	2019
				£	£
Fixed assets

	Tangible assets		4	32,395	34,511


				32,395	34,511
Current assets

	Debtors		5	1,154	(82)

	Cash at bank and in hand			63,288	75,589
				64,442	75,507
Creditors: Amount falling due within one year			6	(50,878)	(51,280)
Net current assets				13,564	24,227
Total assets less current liabilities				45,959	58,738




Net assets				45,959	58,738

Reserves


	Income and expenditure account			45,959	58,738

Total equity				45,959	58,738



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 2020 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 11 December 2020

And signed on its behalf by:

Julie Kenan
Director
11 December 2020

for the year ended 31 August 2020

General information

Its registered number is: 06435955

Its registered office is:

5 Florey Square

Winchmore Hill

London

N21 1UJ

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

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.

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

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

3	Employees
			2020			2019
			Number			Number
		The average monthly number of employees (including directors) during the year was:	0	1	1	0

4	Tangible fixed assets
			Land and buildings	Fixtures, fittings and equipment	Total
			£	£	£
		Cost or revaluation
		At 1 September 2019	26,471	40,249	66,720




		At 31 August 2020	26,471	40,249	66,720
		Depreciation
		At 1 September 2019	4,991	27,218	32,209
		Charge for the year	1,074	1,042	2,116



		At 31 August 2020	6,065	28,260	34,325
		Net book values
		At 31 August 2020	20,406	11,989	32,395
		At 31 August 2019	21,480	13,031	34,511

5	Debtors
			2020	2019
			£	£






		Other debtors	1,154	(82)

			1,154	(82)

6	Creditors:
		amounts falling due within one year
			2020	2019
			£	£



		Trade creditors	50,038	45,042





		Accruals and deferred income	840	6,238
			50,878	51,280

Reserves

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