Wavendon Fields Residents Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01976920 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2021

FOR

WAVENDON FIELDS RESIDENTS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Addyman

Dr J W Ballard

J H Bunker

P J W Chilton

S A Nichols

SECRETARY:

S A Nichols

REGISTERED OFFICE:

9 High Street

Woburn Sands

Milton Keynes

Buckinghamshire

MK17 8RF

REGISTERED NUMBER:

01976920 (England and Wales)

ACCOUNTANTS:

Camfield Chapman Lowe

9 High Street

Woburn Sands

Milton Keynes

Buckinghamshire

MK17 8RF

FIXED ASSETS

Tangible assets

4

16,712

17,310

CURRENT ASSETS

Debtors

5

7,615

12,612

Cash at bank and in hand

53,193

49,205

60,808

61,817

CREDITORS

Amounts falling due within one year

6

2,713

3,651

NET CURRENT ASSETS

58,095

58,166

TOTAL ASSETS LESS CURRENT LIABILITIES

74,807

75,476

CAPITAL AND RESERVES

Called up share capital

901

901

Freehold acquisition reserve

fund

28,571

28,571

Property maintenance reserve

45,335

46,004

SHAREHOLDERS' FUNDS

74,807

75,476

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8th November 2021 and were signed on its behalf by:

P Addyman - Director

Dr J W Ballard - Director

1.	STATUTORY INFORMATION

Wavendon Fields Residents 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.

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.

Turnover

Turnover represents the annual maintenance and administration contributions receivable from residents during the year. None of the company's turnover relates to exports.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Gardening equipment

-

25% on cost

Satellite TV system

-

25% on cost

Taxation

No liability to UK corporation tax arose on ordinary activities for the year ended 30 June 2021 nor for the year ended 30 June 2020.

Under current tax regulations, the company is not liable to corporation tax on income generated from the service charges receivable.

The company would normally be liable to corporation tax on any other sources of income, included bank deposit interest. However, HMRC has granted a concession exempting the company from liability to tax as long as these sources of income remain relatively insignificant.

Provision for maintenance costs

In order to make allowance for maintenance obligations, the company makes annual provisions equivalent to the excess of the maintenance charges receivable, over the operating expenses, for each financial year during which a surplus arises. The provision has been reallocated to a Property Maintenance Reserve, in keeping with the requirements of FRS102. Reserves are released to fund shortfalls of income in the years in which major expenditure is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2020 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Gardening

Satellite

property

equipment

TV system

Totals

£

£

£

£

COST

At 1st July 2020

and 30th June 2021

28,812

6,075

2,303

37,190

DEPRECIATION

At 1st July 2020

11,524

6,053

2,303

19,880

Charge for year

576

22

-

598

At 30th June 2021

12,100

6,075

2,303

20,478

NET BOOK VALUE

At 30th June 2021

16,712

-

-

16,712

At 30th June 2020

17,288

22

-

17,310

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other debtors

7,615

12,612

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Other creditors

2,713

3,651

7.	RELATED PARTY DISCLOSURES