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COMPANY REGISTRATION NUMBER: 01547942
Bromley Court (Blackpool) Residents Association Ltd
Unaudited Financial Statements
31 March 2024
Bromley Court (Blackpool) Residents Association Ltd
Financial Statements
Year ended 31 March 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
Bromley Court (Blackpool) Residents Association Ltd
Director's Report
Year ended 31 March 2024
The director presents her report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Director
The director who served the company during the year was as follows:
Mrs I Cardwell
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 April 2024 and signed on behalf of the board by:
Mrs I Cardwell
Director
Registered office:
Flat 1 Bromley Court
Bromley Close
Blackpool
Lancashire
FY2 0AT
Bromley Court (Blackpool) Residents Association Ltd
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
3,823
3,790
-------
-------
Gross profit
3,823
3,790
Administrative expenses
4,048
3,550
-------
-------
Operating (loss)/profit
( 225)
240
-------
-------
(Loss)/profit before taxation
( 225)
240
Tax on (loss)/profit
----
----
(Loss)/profit for the financial year and total comprehensive income
( 225)
240
----
----
Retained earnings at the start of the year
3,452
3,212
-------
-------
Retained earnings at the end of the year
3,227
3,452
-------
-------
All the activities of the company are from continuing operations.
Bromley Court (Blackpool) Residents Association Ltd
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Debtors
4
904
554
Cash at bank and in hand
2,733
3,294
-------
-------
3,637
3,848
Creditors: amounts falling due within one year
5
350
336
-------
-------
Net current assets
3,287
3,512
-------
-------
Total assets less current liabilities
3,287
3,512
-------
-------
Capital and reserves
Called up share capital
60
60
Profit and loss account
3,227
3,452
-------
-------
Shareholders funds
3,287
3,512
-------
-------
These financial statements have been prepared 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'.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges her 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 15 April 2024 , and are signed on behalf of the board by:
Mrs I Cardwell
Director
Company registration number: 01547942
Bromley Court (Blackpool) Residents Association Ltd
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Flat 1 Bromley Court, Bromley Close, Blackpool, FY2 0AT, Lancashire.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2024
2023
£
£
Other debtors
904
554
----
----
5. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
350
336
----
----