C.L.R.A._LIMITED - Accounts

The principal activity of the company continued to be the management of Chessington Lodge on behalf of the lessees who are the shareholders of the company.

In accordance with the company's articles, a resolution proposing that Myers Clark be reappointed as auditors of the company will be put at a General Meeting.

We have audited the financial statements of C.L.R.A. Limited for the year ended 25 June 2015 set out on pages 4 to 10. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Annual Report to identify material inconsistencies with the audited financial statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report.

In our opinion the financial statements: give a true and fair view of the state of the company's affairs as at 25 June 2015 and of its profit for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and have been prepared in accordance with the requirements of the Companies Act 2006. In our opinion the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

give a true and fair view of the state of the company's affairs as at 25 June 2015 and of its profit for the year then ended;

have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

have been prepared in accordance with the requirements of the Companies Act 2006.

In our opinion the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements.

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

the financial statements are not in agreement with the accounting records and returns; or

certain disclosures of directors' remuneration specified by law are not made; or

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from preparing a strategic report.

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover represents service charges receivable during the year .service charges receivable during the year.

During the year there were two prior adjustments undertaken:

Firstly, the directors agreed that the land held by the company should not have been depreciated. Consequently, in accordance with accounting standards, the comparative figures for the year ended 25 June 2014 have been restated to allow for the write-back of depreciation previously charged.

The result of the prior year adjustment has the following impact on the financial statements:

- General reserves brought forward as at 26 June 2014 have been increased by £15,827 and

- The value of land has been re-instated from a net book value of £77,235 back to the original cost amounting to £93,062.

The second prior year adjustment relates to the allocation of corporation tax incurred on communications income. Previously the tax on this income had been included in the general reserve whereas the communications income was held in the sinking fund. The directors therefore agreed to make a back dated adjustment to transfer the estimated tax suffered on the communications income from the general reserve to the sinking fund to match with the income received.

The resulting impact of the adjustment has:

- Reduced the sinking fund brought forward by £98,312 to £121,936; and

- Increase the general reserves brought forward by £98,312 to give a reinstated value of £119,786 (inclusive of the first adjustment).

During the year the directors paid their service charges in line with the standard terms of their lease.

None of the shareholders hold more than 10% in the company and therefore have no dominance or significant influence. There is therefore no controlling party.