COMPANY REGISTRATION NUMBER:
08236689
VICTORY PLACE (TWICKENHAM) RESIDENTS COMPANY LIMITED |
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Company Limited by Guarantee |
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FILLETED UNAUDITED FINANCIAL STATEMENTS |
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VICTORY PLACE (TWICKENHAM) RESIDENTS COMPANY LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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YEAR ENDED 31 DECEMBER 2022
Statement of financial position |
1 |
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Notes to the financial statements |
3 |
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VICTORY PLACE (TWICKENHAM) RESIDENTS COMPANY LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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STATEMENT OF FINANCIAL POSITION (continued) |
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31 December 2022
CAPITAL AND RESERVES
Profit and loss account |
(
2,216) |
(
1,466) |
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MEMBERS DEFICIT |
(
2,216) |
(
1,466) |
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-------- |
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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 income statement has not been delivered.
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
;
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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
18 April 2024
, and are signed on behalf of the board by:
Mr M G Vigar |
Mr J E Vigar |
Director |
Director |
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Company registration number:
08236689
VICTORY PLACE (TWICKENHAM) RESIDENTS COMPANY LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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NOTES TO THE FINANCIAL STATEMENTS |
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YEAR ENDED 31 DECEMBER 2022
1.
GENERAL INFORMATION
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 1-2 Chalice Close, Wallington, SM6 9RU, England.
2.
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.
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.
3.
COMPANY LIMITED BY GUARANTEE
Victory Place (Twickenham) Residents Company Limited is a company limited by guarantee, it does not therefore have any share capital and the liability to the members is limited to the amounts they have agreed to guarantee in the event of the company's winding up.
4.
CREDITORS:
amounts falling due within one year
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2022 |
2021 |
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£ |
£ |
Trade creditors |
721 |
– |
Other creditors |
2,401 |
2,371 |
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3,122 |
2,371 |
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