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COMPANY REGISTRATION NUMBER: 00647086
Oakenshaw Court Residents Association Limited
Unaudited Financial Statements
31 March 2024
Oakenshaw Court Residents Association Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Directors' report
1
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of income and retained earnings
3
Statement of financial position
4
Notes to the financial statements
5
Oakenshaw Court Residents Association Limited
Directors' Report
Year ended 31 March 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Directors
The directors who served the company during the year were as follows:
Ms K Hall
Mr G Marr
Miss J Kennedy
Mr J E Duddy
Mr R Tyler
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 1 August 2024 and signed on behalf of the board by:
Mr R D S Heald
Company Secretary
Registered office:
69 Victoria Road
Surbiton
Surrey
United Kingdom
KT6 4NX
Oakenshaw Court Residents Association Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Oakenshaw Court Residents Association Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Oakenshaw Court Residents Association Limited for the year ended 31 March 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation.
SHERIDAN BROOKS LIMITED Chartered accountants
176 Brighton Road Coulsdon Surrey CR5 2NF
1 August 2024
Oakenshaw Court Residents Association Limited
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
89,707
76,273
--------
--------
Gross profit
89,707
76,273
Administrative expenses
86,696
58,573
--------
--------
Operating profit
3,011
17,700
Other interest receivable and similar income
260
18
--------
--------
Profit before taxation
3,271
17,718
Tax on profit
-------
--------
Profit for the financial year and total comprehensive income
3,271
17,718
-------
--------
Retained earnings at the start of the year
24,581
6,863
--------
--------
Retained earnings at the end of the year
27,852
24,581
--------
--------
All the activities of the company are from continuing operations.
Oakenshaw Court Residents Association Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Current assets
Debtors
5
20,251
24,073
Cash at bank and in hand
22,074
18,131
--------
--------
42,325
42,204
Creditors: amounts falling due within one year
6
14,113
17,263
--------
--------
Net current assets
28,212
24,941
--------
--------
Total assets less current liabilities
28,212
24,941
--------
--------
Net assets
28,212
24,941
--------
--------
Capital and reserves
Called up share capital
360
360
Profit and loss account
27,852
24,581
--------
--------
Shareholders funds
28,212
24,941
--------
--------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 August 2024 , and are signed on behalf of the board by:
Mr G Marr
Director
Company registration number: 00647086
Oakenshaw Court Residents Association Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 69 Victoria Road, Surbiton, Surrey, KT6 4NX, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover represents maintenance contributions receivable from members.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee costs
The number of employees employed by the company during the year was nil (2023 - Nil).
5. Debtors
2024
2023
£
£
Trade debtors
7,753
10,375
Prepayments
12,498
13,698
--------
--------
20,251
24,073
--------
--------
Trade debtors represent members' contributions outstanding at the year end.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
64
843
Accruals
1,242
1,182
Insurance premium loan
12,699
Windows levy held for works in 23/24
14,670
Other creditors
108
568
--------
--------
14,113
17,263
--------
--------
The windows levy represents monies received in the year to 31 March 2023 for works done and payments made in the year to 31 March 2024.