Company Registration No. 02170751 (England and Wales)
BURNHAM GARDENS RESIDENTS ASSOCIATION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
BURNHAM GARDENS RESIDENTS ASSOCIATION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BURNHAM GARDENS RESIDENTS ASSOCIATION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
177,017
177,017
Current assets
Debtors
3,279
5,996
Cash at bank and in hand
9,004
8,547
12,283
14,543
Creditors: amounts falling due within one year
(937)
(3,671)
Net current assets
11,346
10,872
Total assets less current liabilities
188,363
187,889
Capital and reserves
Called up share capital
3
63
63
Revaluation reserve
177,000
177,000
Profit and loss account
11,300
10,826
Shareholders' funds
188,363
187,889
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 May 2016
Iain Beaton
Director
Company Registration No. 02170751
BURNHAM GARDENS RESIDENTS ASSOCIATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Freehold
Nil
Fixtures, fittings & equipment
25% Reducing Balance
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 October 2014 & at 30 September 2015
179,310
Depreciation
At 1 October 2014 & at 30 September 2015
2,293
Net book value
At 30 September 2015
177,017
At 30 September 2014
177,017
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
64 Ordinary Shares A of 25p each
16
16
188 Ordinary Shares B of 25p each
47
47
63
63
4
Related party relationships and transactions
BURNHAM GARDENS RESIDENTS ASSOCIATION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
4
Related party relationships and transactions
(Continued)
- 3 -
Other transactions
A statutory trust is imposed over service charge monies received under Section 42 of the Landlord and Tenant Act 1987.The closing balance of service charge money held in trust at RBS at the balance sheet date was £32,523 (2014 - £42,818). There was also a separate account with a balance of £52,862 (2014 - £17,098).
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