Company registration number 01633206 (England and Wales)
FURZE HILL HOUSE (HOVE) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
23 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
FURZE HILL HOUSE (HOVE) LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 6
FURZE HILL HOUSE (HOVE) LIMITED
COMPANY INFORMATION
- 1 -
Directors
Ms V Fahmy
Miss J L McGorrigan
Mr P D Beadle
Ms H Huang
E L Winchester
C Jones
(Appointed 18 March 2023)
Secretary
Mr P D Beadle
Company number
01633206
Registered office
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
Auditor
TC Group
The Courtyard
Shoreham Road
Upper Beeding
Steyning
West Sussex
BN44 3TN
FURZE HILL HOUSE (HOVE) LIMITED
BALANCE SHEET
AS AT 23 JUNE 2023
23 June 2023
- 2 -
2023
2022
as restated
Notes
£
£
£
£
Current assets
Debtors
4
28,969
25,565
Cash at bank and in hand
147,896
125,246
176,865
150,811
Creditors: amounts falling due within one year
5
(66,839)
(74,703)
Net current assets
110,026
76,108
Reserves
Income and expenditure account
110,026
76,108
Members' funds
110,026
76,108
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
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 March 2024 and are signed on its behalf by:
Mr P D Beadle
Director
Company Registration No. 01633206
FURZE HILL HOUSE (HOVE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 23 JUNE 2023
- 3 -
1
Accounting policies
Company information
Furze Hill House (Hove) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Courtyard, Shoreham Road, Upper Beeding, Steyning, West Sussex, BN44 3TN.
1.1
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.
1.2
Income and expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Income predominantly consists of service charge income which is received half yearly in advance. Service charge income is recognised on an accruals basis over the period to which it relates and is recognised inclusive of VAT on account of the fact that the company is not VAT registered.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
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.
FURZE HILL HOUSE (HOVE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 23 JUNE 2023
- 4 -
2
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.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
5
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Service charges due
13,173
9,445
Prepayments including insurance
15,796
16,120
28,969
25,565
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
725
632
Accruals and deferred income
66,114
74,071
66,839
74,703
FURZE HILL HOUSE (HOVE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 23 JUNE 2023
- 5 -
6
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
7
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Chris Checkley FCCA
Statutory Auditor:
TC Group
8
Prior period adjustment
Reconciliation of changes in equity
24 June
23 June
2021
2022
£
£
Adjustments to prior year
Adjusted prior year's secretarial fees
(2,400)
(10,800)
Equity as previously reported
47,006
86,908
Equity as adjusted
44,606
76,108
Analysis of the effect upon equity
Profit and loss reserves
(2,400)
(10,800)
FURZE HILL HOUSE (HOVE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 23 JUNE 2023
8
Prior period adjustment
(Continued)
- 6 -
Reconciliation of changes in surplus for the previous financial period
2022
£
Adjustments to prior year
Adjusted prior year's secretarial fees
(8,400)
Surplus as previously reported
39,902
Surplus as adjusted
31,502
Notes to reconciliation
Adjustment to restate prior year secretarial fees