ACCOUNTS - Final Accounts

LANDOR RESIDENTS ASSOCIATION LIMITED - Company Information

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Registered number: 01161300

LANDOR RESIDENTS ASSOCIATION LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

LANDOR RESIDENTS ASSOCIATION LIMITED

CONTENTS

	Page
Balance sheet	1 - 2
Notes to the financial statements	3 - 6

LANDOR RESIDENTS ASSOCIATION LIMITED

REGISTERED NUMBER: 01161300

BALANCE SHEET

AS AT 31 DECEMBER 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		48,733		48,733
Current assets
Debtors: amounts falling due within one year	5	2,220		1,633
Cash at bank and in hand	6	21,083		13,800
		23,303		15,433
Creditors: amounts falling due within one year	7	(1,132)		(1,074)
Net current assets			22,171		14,359
Total assets less current liabilities			70,904		63,092

Net assets			70,904		63,092

Capital and reserves
Called up share capital	8	18	18
General fund		22,153	14,341
Freehold reserve		48,733	48,733
		70,904	63,092

Page 1

LANDOR RESIDENTS ASSOCIATION LIMITED

REGISTERED NUMBER: 01161300

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2020

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R G Thompson

Director

Date: 18 May 2021

The notes on pages 3 to 6 form part of these financial statements.

Page 2

LANDOR RESIDENTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

1.	General information

Landor Residents Association Limited is a private company, limited by shares, incorporated in England and Wales. The registered office is Rutland House, 148 Edmund Street, Birmingham, West Midlands, B3 2FD.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

LANDOR RESIDENTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

2.Accounting policies (continued)

2.3

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold reversion

not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

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.

2.7

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 4 (2019 - 4).

Page 4

LANDOR RESIDENTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

4.	Tangible fixed assets

		Freehold reversion in land and buildings
		£
	Cost
	At 1 January 2020	48,733
	At 31 December 2020	48,733

	Net book value
	At 31 December 2020	48,733
	At 31 December 2019	48,733

Debtors

					2020	2019
					£	£


Trade debtors	1,080	535
Called up share capital not paid	18	18
Prepayments and accrued income	1,122	1,080
	2,220	1,633

6.	Cash and cash equivalents
		2020	2019
		£	£

	Cash at bank and in hand	21,083	13,800

7.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

	Accruals and deferred income	1,132	1,074

Page 5

LANDOR RESIDENTS ASSOCIATION LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

8.	Share capital
		2020	2019
		£	£

Allotted, called up and fully paid

18 (2019 - 18) Ordinary shares of £1.00 each	18	18

Page 6