Park House Residents Association Limited - Accounts to registrar (filleted) - small 18.1

Park House Residents Association Limited - Accounts to registrar (filleted) - small 18.1

PARK HOUSE RESIDENTS ASSOCIATION LIMITED - Company Information

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REGISTERED NUMBER: 02994344 (England and Wales)















Park House Residents Association Limited

Unaudited Financial Statements for the Year Ended 28 February 2018





Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG








Park House Residents Association Limited (Registered number: 02994344)






Contents of the Financial Statements
for the Year Ended 28 February 2018




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Park House Residents Association Limited

Company Information
for the Year Ended 28 February 2018







DIRECTORS: D J Larder
Miss M R Worley





REGISTERED OFFICE: 5 London Road
Rainham
Gillingham
Kent
ME8 7RG





BUSINESS ADDRESS: 20 Park House
Park Avenue
Maidstone
Kent
ME14 5HW





REGISTERED NUMBER: 02994344 (England and Wales)





ACCOUNTANTS: Aggarwal & Co Limited
Chartered Accountants
5 London Road
Rainham
Gillingham
Kent
ME8 7RG
Page 1
Park House Residents Association Limited (Registered number: 02994344)

Statement of Financial Position
28 February 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 216 224

CURRENT ASSETS
Debtors 5 461 531
Cash at bank 29,761 20,554
30,222 21,085
CREDITORS
Amounts falling due within one year 6 569 637
NET CURRENT ASSETS 29,653 20,448
TOTAL ASSETS LESS CURRENT LIABILITIES 29,869 20,672

PROVISIONS FOR LIABILITIES 7 4,536 2,268
NET ASSETS 25,333 18,404

CAPITAL AND RESERVES
Called up share capital 21 21
Share premium 17,480 17,480
Retained earnings 7,832 903
SHAREHOLDERS' FUNDS 25,333 18,404

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The notes form part of these financial statements

Page 2
Park House Residents Association Limited (Registered number: 02994344)

Statement of Financial Position - continued
28 February 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 13 June 2018 and were signed on its behalf by:





Miss M R Worley - Director


The notes form part of these financial statements

Page 3
Park House Residents Association Limited (Registered number: 02994344)

Notes to the Financial Statements
for the Year Ended 28 February 2018

1. STATUTORY INFORMATION

Park House Residents Association Limited is a private company, limited by shares , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income recognition
Turnover represents service charges, contributions to sinking funds and other income.

Tangible fixed assets
Tangible fixed assets represent freehold land and buildings and are stated at cost less accumulated
depreciation. Depreciation has been calculated to write off the cost over its expected useful life.

Financial instruments
The Company enters into basic financial instruments that result in the recognition of financial assets and
liabilities like trade and other accounts receivable and payable, loans to and from banks, other third parties
and related parties.

Basic financial instruments are recognised at amortised cost, with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or
substantively enacted by the statement of financial position date.

Provisions
A sinking fund has been established to provide funds to meet the costs of major repairs and scheduled works
to the property. The present level of the fund may prove insufficient given that there is uncertainty as to when
such costs may arise. Any shortfall in these funds resulting from expenditure incurred will be charged to the
Income Statement in that year.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

Page 4
Park House Residents Association Limited (Registered number: 02994344)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2018

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 March 2017
and 28 February 2018 7,740
DEPRECIATION
At 1 March 2017 7,516
Charge for year 8
At 28 February 2018 7,524
NET BOOK VALUE
At 28 February 2018 216
At 28 February 2017 224

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 461 531

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Taxation and social security 3 1
Other creditors 566 636
569 637

7. PROVISIONS FOR LIABILITIES
2018 2017
£    £   
Other provisions
Sinking fund 4,536 2,268

Sinking
fund
£   
Balance at 1 March 2017 2,268
Provided during year 2,268
Balance at 28 February 2018 4,536

Page 5