Western Court (Sidmouth) Residents Association Limited - Period Ending 2022-03-31
Western Court (Sidmouth) Residents Association Limited - Period Ending 2022-03-31
Registration number:
Western Court (Sidmouth) Residents Association Limited
(A company limited by guarantee)
for the Year Ended 31 March 2022
Western Court (Sidmouth) Residents Association Limited
Contents
|
Company Information |
|
|
Directors' Report |
|
|
Accountants' Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Western Court (Sidmouth) Residents Association Limited
Company Information
|
Directors |
Mrs L M Thomas Mr G M Corr Mr B Lancaster Dr P J Gill |
|
Company secretary |
Mr S I Jarrett |
|
Registered office |
|
|
Accountants |
|
Western Court (Sidmouth) Residents Association Limited
Directors' Report for the Year Ended 31 March 2022
The directors present their report and the financial statements for the year ended 31 March 2022.
Director of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is residents flat management company
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
|
......................................... |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Western Court (Sidmouth) Residents Association Limited
for the Year Ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Western Court (Sidmouth) Residents Association Limited for the year ended 31 March 2022 as set out on pages 4 to 7 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of Western Court (Sidmouth) Residents Association Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Western Court (Sidmouth) Residents Association Limited and state those matters that we have agreed to state to the Board of Directors of Western Court (Sidmouth) Residents Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Western Court (Sidmouth) Residents Association Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Western Court (Sidmouth) Residents Association Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Western Court (Sidmouth) Residents Association Limited. You consider that Western Court (Sidmouth) 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 accounts of Western Court (Sidmouth) 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 accounts.
......................................
Chartered Accountants
Old Fore Street
Sidmouth
Devon
EX10 8LS
Western Court (Sidmouth) Residents Association Limited
(Registration number: 01391702)
Balance Sheet as at 31 March 2022
|
Note |
2022 |
2021 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Capital reserve |
|
|
|
|
Major maintenance reserve |
|
|
|
|
Profit and loss/Maintenance account |
|
|
|
|
Total equity |
|
|
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
|
......................................... |
Western Court (Sidmouth) Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
|
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from lessees for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Western Court (Sidmouth) Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Tangible assets |
|
Land and buildings |
Total |
|
|
Cost or valuation |
||
|
At 1 April 2021 |
|
|
|
At 31 March 2022 |
|
|
|
Depreciation |
||
|
Carrying amount |
||
|
At 31 March 2022 |
|
|
|
At 31 March 2021 |
|
|
Included within the net book value of land and buildings above is £36,083 (2021 - £36,083) in respect of freehold land and buildings.
|
Debtors |
|
2022 |
2021 |
|
|
Trade debtors |
|
|
|
Prepayments |
|
|
|
Other debtors |
|
|
|
|
|
Western Court (Sidmouth) Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
|
Creditors |
Creditors: amounts falling due within one year
|
2022 |
2021 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
- |
|
|
Accruals and deferred income |
|
|
|
|
|