Company registration number 09760452 (England and Wales)
ORCHARD COURT (LYNSTED) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ORCHARD COURT (LYNSTED) LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
ORCHARD COURT (LYNSTED) LTD
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
308
308
Cash at bank and in hand
11,588
10,886
11,896
11,194
Creditors: amounts falling due within one year
4
(725)
(725)
Net current assets
11,171
10,469
Capital and reserves
Called up share capital
8
8
Profit and loss reserves
11,163
10,461
Total equity
11,171
10,469
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered 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 23 February 2024 and are signed on its behalf by:
Mr R Lemmon
Director
Company Registration No. 09760452
ORCHARD COURT (LYNSTED) LTD
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023
30 September 2023
- 2 -
1
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
2
Accounting policies
Company information
Orchard Court (Lynsted) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is River House, 1 Maidstone Road, Sidcup, Kent, United Kingdom, DA14 5RH.
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Turnover
Turnover represents service charges received in relation to the common grounds and access to properties that the company has managed on behalf of the owners throughout the period.
The company is responsible for the management of Orchard Court, Lynsted, and collects service charges from residents in order to fund expenditure incurred now or in the future in the management of the shared grounds surrounding the properties.
2.3
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
As the company is a not-for-profit management company, exemption has been sought from any corporation tax payable on excess revenue remaining after the payment of all maintenance and other expenditure relating to the common grounds. The company confirms it meets the following conditions:
1. The Company's articles of association contain rules designed to ensure that the shares in the Company are owned only by the persons having an interest in the property under management.
2. The Company is not entitled to receive any income from an interest in land.
3. The Company will not pay dividend or make any other distribution of profit.
ORCHARD COURT (LYNSTED) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
308
308
4
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
725
725