0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 5,031 5,031 5,031 xbrli:pure xbrli:shares iso4217:GBP 01011708 2022-10-01 2023-09-30 01011708 2023-09-30 01011708 2022-09-30 01011708 2021-10-01 2022-09-30 01011708 2022-09-30 01011708 2021-09-30 01011708 bus:Director5 2022-10-01 2023-09-30 01011708 core:WithinOneYear 2023-09-30 01011708 core:WithinOneYear 2022-09-30 01011708 core:RetainedEarningsAccumulatedLosses 2023-09-30 01011708 core:RetainedEarningsAccumulatedLosses 2022-09-30 01011708 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-30 01011708 core:LandBuildings core:OwnedOrFreeholdAssets 2022-09-30 01011708 bus:SmallEntities 2022-10-01 2023-09-30 01011708 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 01011708 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 01011708 bus:CompanyLimitedByGuarantee 2022-10-01 2023-09-30 01011708 bus:FullAccounts 2022-10-01 2023-09-30
COMPANY REGISTRATION NUMBER: 01011708
Soval Residents Association Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
For the year ended
30 September 2023
Soval Residents Association Limited
Company Limited by Guarantee
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
5,031
5,031
Current assets
Debtors
6
250
Cash at bank and in hand
38,140
38,370
--------
--------
38,390
38,370
Creditors: amounts falling due within one year
7
947
268
--------
--------
Net current assets
37,443
38,102
--------
--------
Total assets less current liabilities
42,474
43,133
--------
--------
Capital and reserves
Profit and loss account
42,474
43,133
--------
--------
Members funds
42,474
43,133
--------
--------
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 30 September 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 .
Soval Residents Association Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 22 February 2024 , and are signed on behalf of the board by:
S S Hill
Director
Company registration number: 01011708
Soval Residents Association Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Hyde House, The Hyde, Edgware Road, London, NW9 6LA.
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
Turnover represents the service charge contribution receivable for work carried out or to be carried out and services supplied to the building during the year.
Income tax
The company is a non profit making enterprise and any surplus or deficit arising as a result of the difference between service charges levied and costs do not fall within the scope of corporation tax. Taxation is payable on investment income only.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Company limited by guarantee
The company is limited by guarantee and does not have a share capital. Each member of the company guarantees an amount not exceeding £1 the event of a deficiency of assets on the liquidation of the company.
5. Tangible assets
Freehold property
£
Cost
At 1 October 2022 and 30 September 2023
5,031
-------
Depreciation
At 1 October 2022 and 30 September 2023
-------
Carrying amount
At 30 September 2023
5,031
-------
At 30 September 2022
5,031
-------
6. Debtors
2023
2022
£
£
Trade debtors
250
----
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
254
98
Corporation tax
693
170
----
----
947
268
----
----