The Wharf Residents Group Limited
Registered number: 08527388
Balance Sheet
as at 31 May 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 39,000 39,000
Current assets
Debtors 4 - 580
Cash at bank and in hand 7,879 5,695
7,879 6,275
Creditors: amounts falling due within one year 5 (3,062) (2,282)
Net current assets 4,817 3,993
Net assets 43,817 42,993
Capital and reserves
Called up share capital 9 9
Shareholders Loans 26,991 26,991
Profit and loss account 16,817 15,993
Shareholders' funds 43,817 42,993
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs H Milne
Director
Approved by the board on 29 July 2022
The Wharf Residents Group Limited
Notes to the Accounts
for the year ended 31 May 2022
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings No provision made
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2021 39,000
At 31 May 2022 39,000
Depreciation
At 31 May 2022 -
Net book value
At 31 May 2022 39,000
At 31 May 2021 39,000
4 Debtors 2022 2021
£ £
Trade debtors - 580
5 Creditors: amounts falling due within one year 2022 2021
£ £
Accruals 1,362 582
Contingency 1,700 1,700
3,062 2,282
6 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
7 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
8 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Controlling party
The company is under the common control of the shareholders of the company.
10 Other information
The Wharf Residents Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 The Wharf
Watling Street
Weedon
Northants
NN7 4GG
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