Crown Court (Surbiton) Residents - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00768352 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

FOR

CROWN COURT (SURBITON) RESIDENTS

ASSOCIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Y Mistry

SECRETARY:

R D S Heald FRICS

REGISTERED OFFICE:

69 Victoria Road

Surbiton

Surrey

KT6 4NX

REGISTERED NUMBER:

00768352 (England and Wales)

ACCOUNTANTS:

THP Limited

Chartered Accountants

Turnbull House

226 Mulgrave Road

Cheam

Sutton

Surrey

SM2 6JT

CURRENT ASSETS

Debtors

4

3,853

4,378

Cash at bank

5,932

2,513

9,785

6,891

CREDITORS

Amounts falling due within one year

5

5,987

6,366

NET CURRENT ASSETS

3,798

525

TOTAL ASSETS LESS CURRENT LIABILITIES

3,798

525

CAPITAL AND RESERVES

Called up share capital

6

210

210

Maintenance reserve

7

3,588

315

SHAREHOLDERS' FUNDS

3,798

525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 November 2021 and were signed by:

Y Mistry - Director

1.	STATUTORY INFORMATION

Crown Court (Surbiton) Residents Association Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern

The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

There is considerable uncertainty as to the size, nature and duration of the impact that will result from the Coronavirus (Covid-19) pandemic and the national response thereto. The director continues to monitor the development of the Covid-19 pandemic and evaluate its impact on the operations and financial position of the company which has been minimal to date.

The director, having considered all the information available, is confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the director is satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable and represents the maintenance charges receivable in respect of communal expenditure in the ordinary course of business, net of any credits or discounts.

Revenue is recognised in the accounting period in which the services were rendered.

Taxation

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. No liability to corporation tax arises on the ordinary activities of the company as it is a non profit making organisation.

Maintenance reserve

The maintenance reserve comprises sums set aside to carry forward as a provision against future maintenance costs. Such provision is considered prudent to enable the company to manage the property.

Profit and loss account

It is considered that the activities of the company do not give rise to a profit or loss due to its nature of mutual trading. Any excess service charges levied over the current expenditure will be retained in the maintenance reserve.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts due from lessees

25

350

Prepayments

3,828

4,028

3,853

4,378

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Amounts advanced by lessees

4,591

4,608

Other creditors and accruals

1,396

1,758

5,987

6,366

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

21

Ordinary

£10

210

210

7.

RESERVES

Maintenance

reserve

£

At 1 April 2020

315

Profit for the year

3,273

At 31 March 2021

3,588

Any surplus or deficit resulting from the current year's income and expenditure account is retained in the company's maintenance reserve fund. The present level of the fund may prove insufficient, given the uncertainty as to whether and when substantial costs may arise on the property. Any insufficient funds arising will be recharged to the lease holders of the property.