BECKTON_PARKSIDE_RESIDENT - Accounts
BECKTON_PARKSIDE_RESIDENT - Accounts
Company Registration No. 01636461 (England and Wales)
FOR THE YEAR ENDED 31 DECEMBER 2014
COMPANY INFORMATION
Directors
Secretary
Company number
Registered office
Accountants
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 6
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2014
- 1 -
The directors present their report and financial statements for the year ended 31 December 2014.
Directors
The following directors have held office since 1 January 2014:
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
CHARTERED ACCOUNTANTS' REPORT TO THE TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BECKTON PARKSIDE RESIDENTS ASSOCIATION LIMITED FOR THE YEAR ENDED 31 DECEMBER 2014
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Beckton Parkside Residents Association Limited for the year ended 31 December 2014 set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Beckton Parkside Residents Association Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Beckton Parkside Residents Association Limited and state those matters that we have agreed to state to the Board of Directors of Beckton Parkside Residents Association Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Beckton Parkside Residents Association Limited and it's Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Beckton Parkside Residents Association Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Beckton Parkside Residents Association Limited. You consider that Beckton Parkside Residents Association Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Beckton Parkside Residents Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Myers Clark
Chartered Accountants
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
2014
2013
Notes
£
£
Turnover
-
Administrative expenses
-
(87,029 )
Operating (loss)/profit
-
Other interest receivable and similar income
2
-
(Loss)/profit on ordinary activities before taxation
-
Tax on (loss)/profit on ordinary activities
3
-
-
(Loss)/profit for the year
7
-
BALANCE SHEET
AS AT
31 DECEMBER 2014
- 4 -
2014
2013
Notes
£
£
£
£
Current assets
Debtors
4
Creditors: amounts falling due within one year
5
-
(2,031 )
Total assets less current liabilities
Capital and reserves
Called up share capital
6
Profit and loss account
7
-
Shareholders' funds
Directors' responsibilities:
-
-
Approved by the Board for issue on 12 June 2015
Director
Company Registration No. 01636461
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Presentation
In accordance with ICAEW guidelines the service charge accounts have been separated from the company accounts for the year ended 31st December 2014. The company had no income or expenditure in its own right during the year ended 31st December 2014. Income and expenditure arising from these transactions are shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. All service charge monies received from the residents of the property are held on trust for the residents.
2
Investment income
2014
2013
£
£
Bank interest
-
-
10
3
Taxation
On the basis of these financial statements no provision has been made for corporation tax.
4
Debtors
2014
2013
£
£
Trade debtors
Funds held by managing agents
-
Other debtors and prepayments
-
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 6 -
5
Creditors: amounts falling due within one year
2014
2013
£
£
Trade creditors
-
6
Share capital
2014
2013
£
£
Allotted, called up and fully paid
7
Statement of movements on profit and loss account
Profit and loss
account
account
£
Balance at 1 January 2014
Transfer to service charge fund
(84,503)
Balance at 31 December 2014
-
In accordance with ICAEW guidelines the service charge accounts have been separated from the company accounts for the year ended 31st December 2014. The company had no income or expenditure in its own right during the year ended 31st December 2014. Income and expenditure arising from these transactions are shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. All service charge monies received from the residents of the property are held on trust for the residents.
Consequently, the retained reserves of the company have been transferred to the Service Charge fund.
8
Related party relationships and transactions
A statutory trust is imposed over service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and the company acts as a trustee in this capacity. The closing balance of cash and other assets held in trust by the company amounts to £104,160 (2013 £18,522).