REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Farrans Court Limited |
(Limited by Guarantee) |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2023 |
for |
Farrans Court Limited |
(Limited by Guarantee) |
Farrans Court Limited |
(Limited by Guarantee) (Registered number: 02023483) |
Contents of the Financial Statements |
for the Year Ended 31 March 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Farrans Court Limited |
(Limited by Guarantee) |
Company Information |
for the Year Ended 31 March 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Brooms Professional Services Limited |
Chartered Certified Accountants |
Broom House |
39/43 London Road |
Hadleigh, Benfleet |
Essex |
SS7 2QL |
Farrans Court Limited |
(Limited by Guarantee) (Registered number: 02023483) |
Balance Sheet |
31 March 2023 |
31.3.23 | 31.3.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Capital reserve | 7 |
Income and expenditure account | 7 |
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 surplus or deficit 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Farrans Court Limited |
(Limited by Guarantee) (Registered number: 02023483) |
Notes to the Financial Statements |
for the Year Ended 31 March 2023 |
1. | STATUTORY INFORMATION |
Farrans Court Limited (Limited by Guarantee) is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents contributions receivable from tenants. |
Tangible fixed assets |
Land and buildings | - |
Taxation |
Provision is made for income tax on the amount of interest received during the year. Because the company does not trade with a view to making a profit the directors are confident that HMR&C will not seek to tax any surplus of contributions received over expenses incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Prepayments and accrued income |
Amounts due from leaseholders |
Farrans Court Limited |
(Limited by Guarantee) (Registered number: 02023483) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2023 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.23 | 31.3.22 |
£ | £ |
Trade creditors |
Income tax |
Amounts due to leaseholders | 4,625 | 2,284 |
Amounts held on account for |
lease extensions | - | 5,700 |
Accruals and deferred income |
7. | RESERVES |
Income |
and |
expenditure | Capital |
account | reserve | Totals |
£ | £ | £ |
At 1 April 2022 | 27,167 |
Deficit for the year | ( |
) | ( |
) |
At 31 March 2023 | 22,650 |
8. | SHARE CAPITAL |
The company does not have a share capital. It is limited by guarantee. Every member of the company undertakes to contribute to the assets of the company. In the event of the company being wound up while he or she is a member, or within one year of he or she ceasing to be a member, payment of debts and liabilities of the company contracted before he or she ceased to be a member and of the costs and charges and expenses of winding up the company and of the adjustments of the rights and contributions among themselves is limited to an amount not exceeding £10. |
9. | CHANGE OF MANAGING AGENTS |
Since the year end, Wilson Hawkins Property Management was replaced as managing agents with Solum Estates. |
10. | SECTION 20 EXPENDITURE |
During the period, repair costs include expenditure on replacing the gates to the Estate. A section 20 notice should have been issued by the managing agents however this was not sent out to the leaseholders. As a result, the costs have been spent from the Company's profit and loss reserves which have resulted in a deficit for the year. |