Company registration number 02892632 (England and Wales)
SELSDON COURT RESIDENTS ASSOCIATION LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
SELSDON COURT RESIDENTS ASSOCIATION LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
SELSDON COURT RESIDENTS ASSOCIATION LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,321
5,321
Current assets
Debtors
5
23
Cash at bank and in hand
16,029
13,550
16,029
13,573
Creditors: amounts falling due within one year
6
(15,996)
(13,540)
Net current assets
33
33
Net assets
5,354
5,354
Capital and reserves
Called up share capital
33
33
Other reserves
5,321
5,321
Total equity
5,354
5,354
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 31 January 2024 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:
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
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 profit or loss 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.
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 5 April 2024 and are signed on its behalf by:
Mr N Howell
Director
Company registration number 02892632 (England and Wales)
SELSDON COURT RESIDENTS ASSOCIATION LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 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
Selsdon Court Residents Association Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 2 Hilliards Court, Chester Business Park, Chester, Cheshire, CH4 9QP.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
2.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Freehold land and assets in the course of construction are not depreciated.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2.3
Service charges invoiced are matched against expenditure incurred in the year. Surplus monies are held as a liability of the company to be used against future repair and maintenance work.
SELSDON COURT RESIDENTS ASSOCIATION LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 February 2023 and 31 January 2024
5,321
Depreciation and impairment
At 1 February 2023 and 31 January 2024
Carrying amount
At 31 January 2024
5,321
At 31 January 2023
5,321
Included in the cost of land and buildings is freehold land of £5,321 (2023 - £5,321) which is not depreciated.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
23
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
15,996
13,540