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REGISTERED NUMBER: 00620922 (England and Wales)


















AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 11 JUNE 2023

FOR

PARK COURT RESIDENTS ASSOCIATION LIMITED

PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PARK COURT RESIDENTS ASSOCIATION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 11 JUNE 2023







DIRECTORS: J S Lanceley
N Routledge



SECRETARY: R D S Heald FRICS



REGISTERED OFFICE: 69 Victoria Road
Surbiton
Surrey
KT6 4NX



REGISTERED NUMBER: 00620922 (England and Wales)



SENIOR STATUTORY AUDITOR: Kate Brasser FCCA



AUDITORS: THP Limited
Chartered Accountants
and Statutory Auditors
Unit 4 Mulgrave Chambers
26-28 Mulgrave Road
Sutton
Surrey
SM2 6LE

PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922)

BALANCE SHEET
11 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 - -

CURRENT ASSETS
Debtors 5 40,714 44,478
Cash at bank 104,514 111,530
145,228 156,008
CREDITORS
Amounts falling due within one year 6 3,477 2,728
NET CURRENT ASSETS 141,751 153,280
TOTAL ASSETS LESS CURRENT
LIABILITIES

141,751

153,280

CAPITAL AND RESERVES
Called up share capital 7 360 360
General reserve 8 141,391 152,920
SHAREHOLDERS' FUNDS 141,751 153,280

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 9 March 2024 and were signed on its behalf by:





J S Lanceley - Director


PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 11 JUNE 2023


1. STATUTORY INFORMATION

Park Court 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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.

Going concern
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts.

The directors, having considered all the information available, are confident that the company has adequate reserves and resources to continue its operational activities for the foreseeable future. Accordingly, the directors are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable and represents the maintenance charges receivable in respect of communal expenditure in the ordinary course of business.

Revenue is recognised in the accounting period in which the services were rendered.

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

No liability to corporation tax arises on the ordinary activities of the company as it is a non profit making organisation.

General reserve
The general reserve has been established to meet the future maintenance costs. Such provision is considered prudent to enable the company to manage the property.

Profit and loss
It is considered that the activities of the company do not give rise to a profit and loss due to its nature of being a flat management company. Any excess or deficit of service charges levied over current expenditure will be retained in the general reserve.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS

The company owns the freehold of the property known as Park Court in Park Road, New Malden, Surrey KT3 5AE which it acquired at no cost.


PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 11 JUNE 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Service charge in arrears 4,835 4,276
Corporation tax recoverable 72 72
Prepayments and accrued income 35,807 40,130
40,714 44,478

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Creditors and accruals 3,477 2,728

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
36 Ordinary £10 360 360

8. RESERVES
General
reserve
£   

At 12 June 2022 152,920
Deficit for the year (11,529 )
At 11 June 2023 141,391

Any surplus or deficit resulting from the current year's income and expenditure account is retained in the company's general reserve fund. The present level of the fund may prove insufficient, given the uncertainty as to whether and when substantial costs may arise on the property. Any insufficient funds arising will be recharged to the lessees of the property.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Kate Brasser FCCA (Senior Statutory Auditor)
for and on behalf of THP Limited