Spring Court Residents Association ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01276601 (England and Wales)

SPRING COURT RESIDENTS ASSOCIATION

LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs M J Smith

Mr C W Teesdale

Miss K H Flint

REGISTERED OFFICE:

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

REGISTERED NUMBER:

01276601 (England and Wales)

ACCOUNTANTS:

Wallace Crooke Walsall Limited

Chartered Accountants

Wallace House

20 Birmingham Road

Walsall

West Midlands

WS1 2LT

FIXED ASSETS

Tangible assets

3

16,951

14,465

CURRENT ASSETS

Debtors

4

3,903

11

Cash at bank

10,055

12,427

13,958

12,438

CREDITORS

Amounts falling due within one year

5

8,962

11,285

NET CURRENT ASSETS

4,996

1,153

TOTAL ASSETS LESS CURRENT LIABILITIES

21,947

15,618

CAPITAL AND RESERVES

Called up share capital

6

42

42

Share premium

11,958

11,958

Retained earnings

9,947

3,618

SHAREHOLDERS' FUNDS

21,947

15,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 21 August 2018 and were signed on its behalf by:

Mrs M J Smith - Director

Mr C W Teesdale - Director

1.	STATUTORY INFORMATION

Spring Court 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.

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.

The company's financial statements are individual entity financial statements.

The company's financial statements are presented in Sterling and all values are rounded to the nearest pound.

Turnover

Turnover consists of service charges, ground rents and extraordinary service charges receivable in respect of

the year.

Credit is taken for the service charges, ground rents and extraordinary service charges when receivable,

whether received or not, except to the extent that a bad debt is expected.

Tangible fixed assets

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

Fixtures and fittings

-

15% on cost

Depreciation is not provided on freehold land and buildings as it is considered immaterial.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	TANGIBLE FIXED ASSETS

Fixtures

Land and

and

Buildings

fittings

Totals

£

£

£

COST

At 1 April 2017

8,959

7,514

16,473

Additions

-

4,250

4,250

At 31 March 2018

8,959

11,764

20,723

DEPRECIATION

At 1 April 2017

-

2,008

2,008

Charge for year

-

1,764

1,764

At 31 March 2018

-

3,772

3,772

NET BOOK VALUE

At 31 March 2018

8,959

7,992

16,951

At 31 March 2017

8,959

5,506

14,465

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Prepayments and accrued income

3,903

11

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Accruals and deferred income

8,962

11,285

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

42

Ordinary

£1

42

42