Kempton Court Residents Company Limited Small abridged accounts

Kempton Court Residents Company Limited Small abridged accounts

KEMPTON COURT RESIDENTS COMPANY LIMITED - Company Information

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Statement of consent to prepare abridged financial statements
All of the members of Kempton Court Residents Company Limited have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER: 04090323
Kempton Court Residents Company Limited
Filleted unaudited abridged financial statements
31 December 2016
Kempton Court Residents Company Limited
Abridged financial statements
year ended 31 December 2016
Contents
Pages
Officers and professional advisers
1
Abridged statement of financial position
2 to 3
Statement of changes in equity
4
Notes to the abridged financial statements
5 to 6
Kempton Court Residents Company Limited
Officers and professional advisers
Director
A J Coleman
Registered office
101 Green Street
Sunbury On Thames
Middlesex
TW16 6RD
Accountants
West Wake Price LLP
Chartered Accountants
4 City Road
London
EC1Y 2AA
Kempton Court Residents Company Limited
Abridged statement of financial position
31 December 2016
2016
2015
Note
£
£
£
Current assets
Debtors
4
–
912
Cash at bank and in hand
5,632
3,883
-------
-------
5,632
4,795
Creditors: amounts falling due within one year
5
2,050
1,621
-------
-------
Net current assets
3,582
3,174
-------
-------
Total assets less current liabilities
3,582
3,174
-------
-------
Net assets
3,582
3,174
-------
-------
Capital and reserves
Called up share capital
110
110
Cumulative surplus on service charges
3,472
3,064
-------
-------
Member funds
3,582
3,174
-------
-------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
Kempton Court Residents Company Limited
Abridged statement of financial position (continued)
31 December 2016
These abridged financial statements were approved by the board of directors and authorised for issue on 2 August 2017 , and are signed on behalf of the board by:
A J Coleman
Director
Company registration number: 04090323
Kempton Court Residents Company Limited
Statement of changes in equity
year ended 31 December 2016
Called up share capital
Cumulative surplus on service charges
Total
£
£
£
At 1 January 2015
110
7,258
7,368
Loss for the year
( 4,194)
( 4,194)
----
-------
-------
Total comprehensive income for the year
–
( 4,194)
( 4,194)
At 31 December 2015
110
3,064
3,174
Profit for the year
408
408
----
-------
-------
Total comprehensive income for the year
–
408
408
----
-------
-------
At 31 December 2016
110
3,472
3,582
----
-------
-------
Kempton Court Residents Company Limited
Notes to the abridged financial statements
year ended 31 December 2016
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 101 Green Street, Sunbury On Thames, Middlesex, TW16 6RD.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
Income recognition
Income represents the service charges receivable during the year to defray the costs of managing and maintaining the main structures of the apartments and the common lands.
4. Debtors
2016
2015
£
£
Trade debtors
–
912
----
----
5. Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
370
1
Accruals and deferred income
1,020
960
Other creditors
660
660
-------
-------
2,050
1,621
-------
-------
6. Related party transactions
Management expenses in the sum of £2,679 (2015: none) were paid to Invest2Let Limited which is owned by A J Coleman .
7. Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
8. Long-term lease
The company holds the lease over the manager's land and remain structures of the property known as Kempton Court in Staines Road East, Sunbury on Thames, Surrey for a period of 125 years from 1 January 2001.
9. Going concern
In the course of preparing the financial statements for the year ended 31 December 2016 the director has assessed whether the company is a going concern. The director has considered all available information about the future and will ensure that the company has adequate resources available to finance its activities and other obligations during the course of the next twelve months and, therefore, no material uncertainties have been identified by the director that may cast any significant doubt about the ability of the company to continue as a going concern.