Residential Landlords Association Limited 31/12/2017 iXBRL

Residential Landlords Association Limited 31/12/2017 iXBRL

RLA 2019 LIMITED - Company Information

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31/12/2017 2017-12-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2017-01-01 Sage Accounts Production 18.11 - FRS xbrli:pure xbrli:shares iso4217:GBP 02869179 2017-01-01 2017-12-31 02869179 2017-12-31 02869179 2016-12-31 02869179 2016-01-01 2016-12-31 02869179 2016-12-31 02869179 core:FurnitureFittingsToolsEquipment 2017-01-01 2017-12-31 02869179 bus:Director9 2017-01-01 2017-12-31 02869179 core:FurnitureFittingsToolsEquipment 2016-12-31 02869179 core:FurnitureFittingsToolsEquipment 2017-12-31 02869179 core:WithinOneYear 2017-12-31 02869179 core:WithinOneYear 2016-12-31 02869179 core:RetainedEarningsAccumulatedLosses 2017-12-31 02869179 core:RetainedEarningsAccumulatedLosses 2016-12-31 02869179 core:CostValuation core:Non-currentFinancialInstruments 2017-12-31 02869179 core:Non-currentFinancialInstruments 2017-12-31 02869179 core:Non-currentFinancialInstruments 2016-12-31 02869179 core:FurnitureFittingsToolsEquipment 2016-12-31 02869179 bus:SmallEntities 2017-01-01 2017-12-31 02869179 bus:AuditExempt-NoAccountantsReport 2017-01-01 2017-12-31 02869179 bus:FullAccounts 2017-01-01 2017-12-31 02869179 bus:SmallCompaniesRegimeForAccounts 2017-01-01 2017-12-31 02869179 bus:CompanyLimitedByGuarantee 2017-01-01 2017-12-31
Company registration number: 02869179
Residential Landlords Association Limited
Company limited by guarantee
Unaudited filleted financial statements
31 December 2017
Residential Landlords Association Limited
Company limited by guarantee
Contents
Statement of financial position
Notes to the financial statements
Residential Landlords Association Limited
Company limited by guarantee
Statement of financial position
31 December 2017
2017 2016
Note £ £ £ £
Fixed assets
Tangible assets 6 13,204 9,788
Investments 7 2 2
_______ _______
13,206 9,790
Current assets
Debtors 8 65,979 92,051
Cash at bank and in hand 805,956 667,204
_______ _______
871,935 759,255
Creditors: amounts falling due
within one year 9 ( 214,346) ( 203,076)
_______ _______
Net current assets 657,589 556,179
_______ _______
Total assets less current liabilities 670,795 565,969
_______ _______
Net assets 670,795 565,969
_______ _______
Capital and reserves
Profit and loss account 670,795 565,969
_______ _______
Members funds 670,795 565,969
_______ _______
For the year ending 31 December 2017 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 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 April 2018 , and are signed on behalf of the board by:
A R Ward R W Newey
Director Director
Company registration number: 02869179
Residential Landlords Association Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 December 2017
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 1 Roebuck Lane, Sale, Cheshire, M33 7SY.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 50 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Limited by guarantee
Every member of the company undertakes to contribute such amount as may be required, not exceeding £1, to the Company's assets if it should be wound up while he is a member or within one year after he ceases to be a member.
5. Staff costs
The average number of persons employed by the company during the year amounted to 39 (2016: 36 ).
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2017 209,842 209,842
Additions 14,519 14,519
_______ _______
At 31 December 2017 224,361 224,361
_______ _______
Depreciation
At 1 January 2017 200,054 200,054
Charge for the year 11,103 11,103
_______ _______
At 31 December 2017 211,157 211,157
_______ _______
Carrying amount
At 31 December 2017 13,204 13,204
_______ _______
At 31 December 2016 9,788 9,788
_______ _______
7. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 January 2017 and 31 December 2017 2 2
_______ _______
Impairment
At 1 January 2017 and 31 December 2017 - -
_______ _______
Carrying amount
At 31 December 2017 2 2
_______ _______
At 31 December 2016 2 2
_______ _______
8. Debtors
2017 2016
£ £
Trade debtors 2,001 2,761
Amounts owed by group undertakings and undertakings in which the company has a participating interest 42,782 81,282
Other debtors 21,196 8,008
_______ _______
65,979 92,051
_______ _______
9. Creditors: amounts falling due within one year
2017 2016
£ £
Trade creditors 67,148 92,404
Corporation tax 11,421 13,429
Social security and other taxes 46,941 32,061
Other creditors 88,836 65,182
_______ _______
214,346 203,076
_______ _______