Company Registration No. 02187824 (England and Wales)
DEEPWOOD RESIDENTS COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
DEEPWOOD RESIDENTS COMPANY LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
DEEPWOOD RESIDENTS COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
4
6,000
6,000
Current assets
Trade and other receivables
5
24
24
Current liabilities
6
(420)
(420)
Net current liabilities
(396)
(396)
Total assets less current liabilities
5,604
5,604
Non-current liabilities
7
(21,768)
(21,174)
Net liabilities
(16,164)
(15,570)
Equity
Called up share capital
24
24
Retained earnings
(16,188)
(15,594)
Total equity
(16,164)
(15,570)

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2021 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 19 August 2022 and are signed on its behalf by:
W Holliday
Director
Company Registration No. 02187824
DEEPWOOD RESIDENTS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information

Deepwood Residents Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Quay, 30 Channel Way , Ocean Village, Southampton, Hampshire, SO14 3TG.

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. The principal accounting policies adopted are set out below.

 

1.2
Property, plant and equipment

Freehold land is not depreciated.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Basic financial liabilities

Basic financial liabilities, including trade and other payables, that are classified as debt, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

 

 

 

DEEPWOOD RESIDENTS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

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

2021
2020
Number
Number
Total
-
0
-
0
4
Property, plant and equipment
Land and buildings
£
Cost
At 1 January 2021 and 31 December 2021
6,000
Depreciation and impairment
At 1 January 2021 and 31 December 2021
-
0
Carrying amount
At 31 December 2021
6,000
At 31 December 2020
6,000
5
Trade and other receivables
2021
2020
Amounts falling due within one year:
£
£
Other receivables
24
24
6
Current liabilities
2021
2020
£
£
Other payables
420
420
DEEPWOOD RESIDENTS COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
7
Non-current liabilities
2021
2020
£
£
Other payables
21,768
21,174

Other payables totalling £21,768 (2020: £21,174) relate to the amount due to Northwood Square Residents Association, which is controlled by the members of Deepwood Residents Company Limited. Northwood Square Residents Association has confirmed that that it will not seek collection of the amount shown as a creditor in the accounts of the company which, due to the financial arrangement between the relevant organisations, is expected to increase each year.

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