Vermont Close Residents' Assoc Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00949678 (England and Wales)

VERMONT CLOSE RESIDENTS' ASSOCIATION

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Elliott

Ms S L Johnson

M Green

SECRETARY:

Zephyr Property Management Limited

REGISTERED OFFICE:

Highland House

Mayflower Close

Chandlers Ford

Eastleigh

Hampshire

SO53 4AR

REGISTERED NUMBER:

00949678 (England and Wales)

FIXED ASSETS

Tangible assets

3

9,388

9,701

TOTAL ASSETS LESS CURRENT LIABILITIES

9,388

9,701

RESERVES

Income and expenditure account

9,388

9,701

9,388

9,701

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 surplus or deficit 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 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 16 July 2018 and were signed on its behalf by:

M Green - Director

1.	STATUTORY INFORMATION

Vermont Close Residents' Association Limited is a private company, limited by guarantee , registered in England

and Wales. The company's registered number and registered office address can be found on the Company

Information page.

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.

These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards

applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as

applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure

Is required to show a true and far view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain

financial instruments at fair value. The principal accounting policies adopted are set out below.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold Property - 2% Straight line

Profit and loss account

The company has no income or expenditure in its own right. All transactions in the year relate to maintenance of

the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown

in separate service charge accounts for the property that do not form part of annual accounts of the company and

are not filed at Companies House. All service charge monies received from the residents of the property are held

on trust for the residents.

Financial Assets

The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial assets are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other receivables and cash and bank balances are initially

measured at transaction price including transaction costs and are subsequently carried at amortised cost using the

effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

Financial Liabilities

Basic financial liabilities which include trade and other payables, are initially measured at transaction price and

subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the

debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity Instruments

Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct

issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the

discretion of the company

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 March 2017

and 28 February 2018

15,647

DEPRECIATION

At 1 March 2017

5,946

Charge for year

313

At 28 February 2018

6,259

NET BOOK VALUE

At 28 February 2018

9,388

At 28 February 2017

9,701

4.	COMPANY LIMITED BY GUARANTEE

The company is limited by guarantee and does not have any share capital. Each member of the company

undertakes to contribute an amount not exceeding £1 to the assets of the company in the event of the company

being wound up.