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COMPANY REGISTRATION NUMBER: 02048203
East Gallops Residents Association Limited
Filleted Unaudited Financial Statements
31 March 2023
East Gallops Residents Association Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
£
£
Current assets
Debtors
5
3,771
4,096
Cash at bank and in hand
30,928
29,452
--------
--------
34,699
33,548
Creditors: amounts falling due within one year
6
3,212
2,845
--------
--------
Net current assets
31,487
30,703
--------
--------
Total assets less current liabilities
31,487
30,703
--------
--------
Net assets
31,487
30,703
--------
--------
Capital and reserves
Called up share capital
7
19
19
Profit and loss account
31,468
30,684
--------
--------
Shareholders funds
31,487
30,703
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 30 September 2023 , and are signed on behalf of the board by:
A Morris
A Stafford
Director
Director
Company registration number: 02048203
East Gallops Residents Association Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Goldlay House, Parkway, Chelmsford, Essex, CM2 7PR.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover as shown in the income and expenditure account represents maintenance charges receivable from residents.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Average number of employees
The average number of employees during the year was 3 (2022: 3) which consisted of the directors only.
5. Debtors
2023
2022
£
£
Trade debtors
23
Prepayments and accrued income
3,771
4,073
-------
-------
3,771
4,096
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,747
1,440
Accruals and deferred income
1,465
1,405
-------
-------
3,212
2,845
-------
-------
7. Called up share capital
Authorised share capital
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
19
19
19
19
----
----
----
----
8. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.