Angmering On Sea Estate Residents Association Limited 05751571 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is the provision of residents property management services. Digita Accounts Production Advanced 6.30.9574.0 true true 05751571 2022-04-01 2023-03-31 05751571 2023-03-31 05751571 core:OtherReservesSubtotal 2023-03-31 05751571 core:RetainedEarningsAccumulatedLosses 2023-03-31 05751571 core:CurrentFinancialInstruments 2023-03-31 05751571 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05751571 bus:SmallEntities 2022-04-01 2023-03-31 05751571 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 05751571 bus:FullAccounts 2022-04-01 2023-03-31 05751571 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 05751571 bus:RegisteredOffice 2022-04-01 2023-03-31 05751571 bus:Director10 2022-04-01 2023-03-31 05751571 bus:Director11 2022-04-01 2023-03-31 05751571 bus:Director13 2022-04-01 2023-03-31 05751571 bus:Director4 2022-04-01 2023-03-31 05751571 bus:Director6 2022-04-01 2023-03-31 05751571 bus:Director8 2022-04-01 2023-03-31 05751571 bus:Director9 2022-04-01 2023-03-31 05751571 bus:CompanyLimitedByGuarantee 2022-04-01 2023-03-31 05751571 countries:England 2022-04-01 2023-03-31 05751571 2021-04-01 2022-03-31 05751571 2022-03-31 05751571 core:OtherReservesSubtotal 2022-03-31 05751571 core:RetainedEarningsAccumulatedLosses 2022-03-31 05751571 core:CurrentFinancialInstruments 2022-03-31 05751571 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05751571

Angmering On Sea Estate Residents Association Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Angmering On Sea Estate Residents Association Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Angmering On Sea Estate Residents Association Limited

Company Information

Directors

J M Chatterton

A M Pryor

N R Nind

K Hill

K F Fleming

D J Butcher

M P Cox

Registered office

55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

Angmering On Sea Estate Residents Association Limited

(Registration number: 05751571)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

2,745

5,357

Cash at bank and in hand

 

126,801

81,940

 

129,546

87,297

Creditors: Amounts falling due within one year

5

(49,374)

(4,832)

Net assets

 

80,172

82,465

Capital and reserves

 

Other reserves

27,173

27,173

Profit and loss account

52,999

55,292

Shareholders' funds

 

80,172

82,465

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income and expenditure.

Approved and authorised by the Board on 11 September 2023 and signed on its behalf by:
 

.........................................
D J Butcher
Director

.........................................
M P Cox
Director

 

Angmering On Sea Estate Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ
England

These financial statements were authorised for issue by the Board on 11 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue comprises the fair value of service, maintenance and similar charges levied on the residents of the estate.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Angmering On Sea Estate Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Estate charges outstanding

Estate charges outstanding are amounts due from service users for the maintenance of the estate.

Estate charges outstanding are recognised initially at the transaction price. less provision for impairment. A provision for the impairment of estate charges outstanding is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2022 - 8).

4

Debtors

Current

2023
£

2022
£

Estate charges outstanding

2,210

4,894

Prepayments

535

463

 

2,745

5,357

 

Angmering On Sea Estate Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Trade creditors

 

1,174

1,222

Resident's deposits

 

2,000

2,000

Accrued expenses

 

919

1,040

Income tax liability

693

570

Estate charges received in advance

 

44,588

-

 

49,374

4,832