| APRA Limited |
| Balance Sheet |
| as at 31 August 2017 |
|
| Notes |
|
|
2017 |
|
|
2016 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
179,467 |
|
|
201,899 |
|
| Current assets |
| Debtors |
5 |
|
3,515 |
|
|
3,800 |
| Cash at bank and in hand |
|
|
601,455 |
|
|
474,422 |
|
|
|
604,970 |
|
|
478,222 |
|
| Creditors: amounts falling due within one year |
6 |
|
(88,180) |
|
|
(51,104) |
|
| Net current assets |
|
|
|
516,790 |
|
|
427,118 |
|
| Net assets |
|
|
|
696,257 |
|
|
629,017 |
|
|
|
|
|
|
|
|
| Reserves |
| General fund |
7 |
|
|
50,000 |
|
|
50,000 |
| Road Renewal Sinking fund |
7 |
|
|
646,257 |
|
|
579,017 |
|
| Reserves |
|
|
|
696,257 |
|
|
629,017 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The income and expenditure statement has not been deilvered to the Registrar of Companies. |
|
|
|
|
| M Barnes |
| Treasurer |
| Approved by the board on 6 March 2018 |
|
| APRA Limited |
| Notes to the Accounts |
| for the year ended 31 August 2017 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
The turnover shown in the Income and Expenditure Account represents the annual road subscription receivable for the year and planning fees received during the year. |
|
|
Depreciation |
|
Depreciation is charged in order to write off the cost of the asset over its estimated useful life. The estimated life of the road surface is 15 years, commencing year end 31 August 2011. |
|
|
Road Surface |
6.67% straight line |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad or doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The company, as a residents' association, is a mutual trading company and is therefore only liablie to tax on investment income. A current tax liability is recognised for the tax payable on the taxable income of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
|
|
| 2 |
Sinking fund |
|
|
A sinking fund was established in 1995 to accrue for the liability associated with the reconstruction of the roads and related drainage systems. Such amounts which are considered surplus to the day to day costs of maintaining the estate are transferred to this fund. |
|
|
| 3 |
Taxation |
2017 |
|
2016 |
| £ |
£ |
|
Corporation Tax is chargeable on the investment income. |
|
|
UK corporation tax @ 19.58% |
1,689 |
|
1,900 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 September 2016 |
336,491 |
|
At 31 August 2017 |
336,491 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2016 |
134,592 |
|
Charge for the year |
22,432 |
|
At 31 August 2017 |
157,024 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2017 |
179,467 |
|
At 31 August 2016 |
201,899 |
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2017 |
|
2016 |
| £ |
£ |
|
|
Accrued Income (bank interest) |
|
|
|
|
3,515 |
|
3,800 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
| £ |
£ |
|
|
Corporation tax |
1,689 |
|
1,900 |
|
Creditors and accruals |
3,378 |
|
16,148 |
|
Deposits held |
83,113 |
|
33,056 |
|
|
|
|
|
|
88,180 |
|
51,104 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Reserves |
|
|
|
|
Road Fund |
|
|
General |
|
Book value |
|
On deposit |
|
Total |
|
|
Fund |
|
of roads |
|
at Bank |
| £ |
£ |
£ |
£ |
|
|
At 1 September 2016 |
50,000 |
|
201,899 |
|
377,118 |
|
629,017 |
|
|
Surplus for the year |
67,240 |
|
|
|
|
|
67,240 |
|
|
Transfer from general fund |
(89,672) |
|
|
|
89,672 |
|
- |
|
|
Transfer road surface depreciation |
22,432 |
|
(22,432) |
|
|
|
- |
|
|
At 31 August 2017 |
50,000 |
|
179,467 |
|
466,790 |
|
696,257 |
|
|
|
|
|
|
|
|
|
|
The Road Fund which is stated on the Balance Sheet as £646,257 is the combined total of the book value of the estate roads (£179,467) which were resurfaced in August 2010 and cash funds of £466,790 set aside for future resurfacing. |
|
|
Due to presentation requirements under FRS 102, depreciation is now initially taken through the income and expenditure statement and subsequently transferred to the separate fund for the book value of the estate roads. |
|
|
| 8 |
Other Information |
|
|
APRA Limited is a private company limited by guarantee and incorporated in England. Its registered address is: |
|
9 Bridge Street |
|
Walton-on Thames |
|
Surrey |
|
KT12 1AE |
