Moorgate Residents Association Limited
Moorgate Residents Association Limited
Registered number: 05101221
Unaudited Financial Statements
For The Year Ended 31 December 2023
SGW & Co
39 Main Street
Bunny
Nottingham
NG11 6QU
Moorgate Residents Association Limited
Accountants' Report
For The Year Ended 31 December 2023
Accountants' Report
Chartered Accountants' report to the directors on the preparation of the unaudited statutory accounts of
Moorgate Residents Association Limited
For The Year Ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Moorgate Residents Association Limited
For The Year Ended 31 December 2023 which comprise the Income and Expenditure Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to 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/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of
Moorgate Residents Association Limited
, as a body, in accordance with the terms of our engagement letter dated 13 January 2014. Our work has been undertaken solely to prepare for your approval the accounts of
Moorgate Residents Association Limited
and state those matters that we have agreed to state to the directors of
Moorgate 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
Moorgate Residents Association Limited
and its directors, as a body, for our work or for this report.
It is your duty to ensure that
Moorgate 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 or loss of
Moorgate Residents Association Limited
. You consider that
Moorgate Residents Association Limited
is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of
Moorgate 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 financial statements.
| Signed |
|
|
|
|
39 Main Street
Bunny
Nottingham
NG11 6QU
Moorgate Residents Association Limited
Balance Sheet
As At
31 December 2023
Balance Sheet
Registered number:
05101221
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Current assets |
|
|
|
| Prepayments and accrued income |
|
|
|
| Creditors: Amounts Falling Due Within One Year |
( |
|
|
| NET CURRENT ASSETS |
|
|
|
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|
| Accruals and deferred income |
( |
( |
|
| NET ASSETS |
|
|
|
| RESERVES |
|
|
|
Notes
1.
General Information
Moorgate Residents Association Limited
Registered number
05101221
is a limited by guarantee company incorporated in England & Wales. The Registered Office is Fairfields, 39 Main Street, Bunny, Nottinghamshire, NG11 6QU.
2.
Average Number of Employees
Average number of employees, including directors, during the year was NIL (2022: NIL)
3.
Company limited by guarantee
The Company is limited by guarantee and has no share capital.
Every member of the Company undertakes to contribute to the assets of the Company, in the event of a winding up, such an amount as may be required not exceeding £1.
4.
Additional notes regarding accounting policies
4.
Additional notes regarding accounting policies - continued
Turnover
The Company is responsible for the management of the property at Waterfields, Retford, Nottinghamshire DN22 6RE. The Company collects service charges from freeholders and leaseholders (in accordance with the terms of the lease agreement) in order to fund expenditure incurred in the management of the property. In respect of the service charge monies relating to the leasehold properties, these monies are held in trust, which is imposed under Section 42 of the Landlord and Tenant Act 1987. In respect of the service charge monies relating to the freehold properties, these monies are held in an implied trust.
During the year the Company incurred expenditure in fulfilling its obligations under the terms of the transfer agreement and the terms of the lease for the property. The total costs incurred are recorded in the Company’s income and expenditure account as funds collected from freeholders and lessees to discharge its obligations under the transfer agreement and the lease. To meet these obligations the Company draws from service charge funds held in trust on behalf of the freeholders and lessees.
A detailed summary of expenditure incurred in the period is made available to the freeholders and lessees (under the terms of the lease) of the property and is prepared under The Institute of Chartered Accountants England and Wales best practice guidance for the preparation of Residential Service Charge Accounts (TECH 03/11).
Cash balances
Cash at bank does not include unspent amounts of service charge funds held in the Company’s bank account. Instead these unspent service charge funds are held in trust by the Company. In respect of the service charge monies relating to the leasehold properties, a trust is imposed under Section 42 of the Landlord and Tenant Act 1987. In respect of the service charge monies relating to the freehold properties, these are held in an implied trust.
...CONTINUED
Moorgate Residents Association Limited
Balance Sheet (continued)
As At
31 December 2023
At 31 December 2023 the amount of funds held in trust was £23,366 (2022: £21,438).
On behalf of the board
|
Director
|
|
|