Hayfield Green Residents Company Limited - Period Ending 2018-03-31

Registration number: 03403057

Hayfield Green Residents Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Crozier Jones LLP
Chartered Certified Accountants
9/13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

Hayfield Green Residents Company Limited

Contents

Company Information	1
Directors' Report	2
Accountants' Report	3
Profit and Loss Account and Statement of Retained Earnings	4
Statement of Comprehensive Income	5
Balance Sheet	6 to 7
Notes to the Financial Statements	8 to 10
Detailed Profit and Loss Account	11

Hayfield Green Residents Company Limited

Company Information

Directors

Mr R M Denton Mr K J Wright Mrs L A Clarkson

Registered office

9 Thorne Road Doncaster DN1 2HJ

Accountants

Crozier Jones LLP Chartered Certified Accountants 9/13 Thorne Road Doncaster South Yorkshire DN1 2HJ

Page 1

Hayfield Green Residents Company Limited

Directors' Report for the Year Ended 31 March 2018

The directors present their report and the financial statements for the year ended 31 March 2018.

Directors of the company

The directors who held office during the year were as follows:

Mr R M Denton

Mr K J Wright

Mrs L A Clarkson (appointed 29 June 2017)

Principal activity

The principal activity of the company is property and estate management

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 3 July 2018 and signed on its behalf by:

.........................................
Mr K J Wright
Director

Page 2

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Hayfield Green Residents Company Limited
for the Year Ended 31 March 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Hayfield Green Residents Company Limited for the year ended 31 March 2018 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://www.accaglobal.com/gb/en/discover/public-value/rulebook.html.

This report is made solely to the Board of Directors of Hayfield Green Residents Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Hayfield Green Residents Company Limited and state those matters that we have agreed to state to the Board of Directors of Hayfield Green Residents Company Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Hayfield Green Residents Company Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Hayfield Green Residents Company Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Hayfield Green Residents Company Limited. You consider that Hayfield Green Residents Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Hayfield Green Residents Company Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Crozier Jones LLP
Chartered Certified Accountants
9/13 Thorne Road
Doncaster
South Yorkshire
DN1 2HJ

3 July 2018

Page 3

Hayfield Green Residents Company Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 March 2018

	Note	2018 £	2017 £
Turnover		33,810	33,810
Administrative expenses		(34,012)	(33,930)
Other operating income		250	150
Operating profit		48	30
Profit before tax		48	30
Taxation		(48)	(30)
Profit/(loss) for the financial year		-	-
Retained earnings brought forward		-	-
Retained earnings carried forward		-	-

The notes on pages 8 to 10 form an integral part of these financial statements.

Page 4

Hayfield Green Residents Company Limited

Statement of Comprehensive Income for the Year Ended 31 March 2018

	2018 £	2017 £
Profit/(loss) for the year	-	-
Total comprehensive income for the year	-	-

The notes on pages 8 to 10 form an integral part of these financial statements.

Page 5

Hayfield Green Residents Company Limited

(Registration number: 03403057)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	3	1	1
Current assets
Debtors	4	1,715	4,381
Cash at bank and in hand		74,928	80,951
		76,643	85,332
Creditors: Amounts falling due within one year	5	(3,235)	(9,033)
Net current assets		73,408	76,299
Total assets less current liabilities		73,409	76,300
Creditors: Amounts falling due after more than one year	5	(73,271)	(76,162)
Net assets		138	138
Capital and reserves
Called up share capital		138	138
Total equity		138	138

For the financial year ending 31 March 2018 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The notes on pages 8 to 10 form an integral part of these financial statements.

Page 6

Hayfield Green Residents Company Limited

(Registration number: 03403057)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 3 July 2018 and signed on its behalf by:
 

.........................................

Mr R M Denton

Director

.........................................

Mr K J Wright

Director

.........................................

Mrs L A Clarkson

Director

The notes on pages 8 to 10 form an integral part of these financial statements.

Page 7

Hayfield Green Residents Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Thorne Road
Doncaster
DN1 2HJ
United Kingdom

These financial statements were authorised for issue by the Board on 3 July 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 8

Hayfield Green Residents Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	Land with a cost of £1 has not been depreciated

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Page 9

Hayfield Green Residents Company Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 April 2017	1	1
At 31 March 2018	1	1
Depreciation
Carrying amount
At 31 March 2018	1	1
At 31 March 2017	1	1

Included within the net book value of land and buildings above is £1 (2017 - £1) in respect of freehold land and buildings.
 

4

Debtors

	2018 £	2017 £
Trade debtors	1,434	2,497
Other debtors	280	724
Prepayments	1	1,160
	1,715	4,381

5

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Trade creditors		525	965
Income tax liability		48	30
Accrued expenses		2,662	8,038
		3,235	9,033

Page 10

Hayfield Green Residents Company Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2018

2018 £

2017 £

Turnover
Rendering of services	33,810	33,810

Establishment costs
Light, heat and power	9,008	2,888
Insurance	1,159	1,176
Transfer to/(from) maintenance reserve	(2,891)	6,563
Repairs and renewals	5,015	1,102
Grounds maintenance	9,700	9,700
Other repairs and maintenance	4,848	5,155
	26,839	26,584

General administrative expenses
Insurance	96	96
Sundry expenses	230	128
Accountancy fees	1,590	1,590
Book keeping fees	4,032	4,032
Legal and professional fees	1,218	1,470
Bad debts written off	7	-
	7,173	7,316

Other operating income
Other income	250	150

This page does not form part of the statutory financial statements.

Page 11