IRIS Accounts Production
v23.3.1.45
01268356
Board of Directors
1.7.22
30.6.23
30.6.23
the management and maintenance control of residential apartments and property situated in Harriet Way, Little Bushey Lane, Bushey Heath, Hertfordshire.
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Ordinary
20.00000
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REGISTERED NUMBER: 01268356 (England and Wales) |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE 2023 |
HARRIET CLOSE RESIDENTS ASSOCIATION |
Report of the Directors |
2 |
|
Notes to the Financial Statements |
5 |
|
|
REGISTERED OFFICE: |
Ossington Chambers |
|
REGISTERED NUMBER: |
01268356 (England and Wales) |
|
ACCOUNTANTS: |
Stephenson Nuttall & Co |
The directors present their report with the financial statements of the company for the year ended 30th June 2023. |
The directors shown below have held office during the whole of the period from 1st July 2022 to the date of this report. |
Other changes in directors holding office are as follows: |
R M P Harris - resigned 20th January 2023 |
Ms J Anderson - resigned 20th June 2023 |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
Service Charge Expenditure |
44,173 |
|
54,266 |
|
|
OPERATING PROFIT/(LOSS) and |
|
PROFIT/(LOSS) BEFORE TAXATION |
8,627 |
|
(1,466 |
) |
|
Tax on profit/(loss) |
4 |
- |
|
- |
|
|
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
8,627 |
|
(1,466 |
) |
|
Amounts falling due within one year |
6 |
103,267 |
|
95,660 |
|
|
NET CURRENT ASSETS |
880 |
|
880 |
|
|
TOTAL ASSETS LESS CURRENT LIABILITIES |
880 |
|
880 |
|
|
Called up share capital |
7 |
880 |
|
880 |
|
|
SHAREHOLDERS' FUNDS |
880 |
|
880 |
|
|
The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023. |
The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements have been prepared 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 10th March 2024 and were signed on its behalf by: |
|
Harriet Close Residents Association Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. |
|
Basis of preparing the financial statements |
|
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
|
Income represents service charge contributions receivable from the lessees in specified proportions based on the budget prepared by the managing agent at the beginning of each year, and in accordance with the provisions of each lease. The company receives these amounts as agent, which are then held on trust, and therefore do not constitute turnover. |
|
Presentation of the income statement |
|
The presentation of the Income Statement on page 3 has been modified from the prescribed format for company accounts in order to provide more information to lessees and other parties who may be interested in the expenditure incurred in the management of the property. |
3. |
EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was NIL (2022 - NIL). |
|
Directors' remuneration |
- |
|
- |
|
|
|
Analysis of the tax charge |
|
No liability to UK corporation tax arose for the year ended 30th June 2023 nor for the year ended 30th June 2022. |
| The activity of the company is defined as mutual trading as a consequence of which the company is subject to UK corporation tax on investment income only. |
5. |
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Trade debtors |
2,902 |
|
4,197 |
|
|
|
Bank balances held by managing agent |
95,177 |
|
87,522 |
|
|
6. |
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
|
|
Receipts in advance |
5,960 |
|
4,855 |
|
|
|
Reserve Fund |
84,054 |
|
84,054 |
|
|
|
Service Charge Account |
9,345 |
|
718 |
|
|
|
Accrued expenses |
3,908 |
|
3,415 |
|
|
| The Reserve Fund and Service Charge Account are held on trust to the credit of lessees. The balance on the Reserve Fund is carried forward to meet the cost of future major works. |
7. |
CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
|
Number: |
Class: |
Nominal |
30/6/23 |
|
30/6/22 |
|
Profit for the year |
8,627 |
|
|
|
Transfer to Service Charge Account |
(8,627 |
) |
|
9. |
CONTINGENT LIABILITIES |
|
The company had no contingent liabilities at 30th June 2023 (2022 - None). |
|
Contracted but not provided for in the |
11. |
RELATED PARTY DISCLOSURES |
|
The company is a mutual trading company and as such receives income in the form of service charge contributions from lessees, some of whom are directors of the company. Service charge contributions payable by the directors are on the same basis as for all of the other lessees. |