Company registration number 05480002 (England and Wales)
CHELSEA COURT RESIDENTS ASSOCIATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
CHELSEA COURT RESIDENTS ASSOCIATION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
21,614
21,614
Current assets
Debtors
4
2,482
-
0
Cash at bank and in hand
22,686
17,508
25,168
17,508
Creditors: amounts falling due within one year
5
(2,674)
(1,644)
Net current assets
22,494
15,864
Net assets
44,108
37,478
Capital and reserves
Called up share capital
14
14
Share premium account
23,086
23,086
Other reserves
17,909
15,906
Profit and loss reserves
3,099
(1,528)
Total equity
44,108
37,478

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 6 September 2022 and are signed on its behalf by:
Ms Z Newcombe
Director
Company Registration No. 05480002
CHELSEA COURT RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information

Chelsea Court Residents Association Limited is a private company limited by shares incorporated in England and Wales. The registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard 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 fair 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 £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents the total of Service Charge demands made on an account to the members.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
0% as wholly represents freehold land.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually, and whenever there is an indication that the asset may be impaired.

1.5
Financial instruments
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

CHELSEA COURT RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
2
2
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2021 and 31 March 2022
21,614
Depreciation and impairment
At 1 April 2021 and 31 March 2022
-
0
Carrying amount
At 31 March 2022
21,614
At 31 March 2021
21,614
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
2,482
-
0
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
341
88
Other creditors
2,333
1,556
2,674
1,644
6
Related party transactions
CHELSEA COURT RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
6
Related party transactions
(Continued)
- 4 -

Due to the nature of the company's activities, it's income is generated from the members by way

of management charges and any reserves are held, on trust, for the settlement of future costs or

for the return to members, as required.

2022-03-312021-04-01false07 September 2022CCH SoftwareCCH Accounts Production 2022.200No description of principal activityMs S LockwoodMs Z Newcombe054800022021-04-012022-03-31054800022022-03-31054800022021-03-3105480002core:LandBuildings2022-03-3105480002core:LandBuildings2021-03-3105480002core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3105480002core:CurrentFinancialInstrumentscore:WithinOneYear2021-03-3105480002core:CurrentFinancialInstruments2022-03-3105480002core:CurrentFinancialInstruments2021-03-3105480002core:ShareCapital2022-03-3105480002core:ShareCapital2021-03-3105480002core:SharePremium2022-03-3105480002core:SharePremium2021-03-3105480002core:OtherMiscellaneousReserve2022-03-3105480002core:OtherMiscellaneousReserve2021-03-3105480002core:RetainedEarningsAccumulatedLosses2022-03-3105480002core:RetainedEarningsAccumulatedLosses2021-03-3105480002bus:Director52021-04-012022-03-3105480002core:LandBuildingscore:OwnedOrFreeholdAssets2021-04-012022-03-31054800022020-04-012021-03-3105480002core:LandBuildings2021-03-3105480002bus:PrivateLimitedCompanyLtd2021-04-012022-03-3105480002bus:SmallCompaniesRegimeForAccounts2021-04-012022-03-3105480002bus:FRS1022021-04-012022-03-3105480002bus:AuditExemptWithAccountantsReport2021-04-012022-03-3105480002bus:Director12021-04-012022-03-3105480002bus:Director22021-04-012022-03-3105480002bus:FullAccounts2021-04-012022-03-31xbrli:purexbrli:sharesiso4217:GBP