Chapter Close Residents Association Limited 02029675 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is residents' property management. Digita Accounts Production Advanced 6.30.9574.0 true 02029675 2023-04-01 2024-03-31 02029675 2024-03-31 02029675 core:CurrentFinancialInstruments 2024-03-31 02029675 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02029675 bus:SmallEntities 2023-04-01 2024-03-31 02029675 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 02029675 bus:FullAccounts 2023-04-01 2024-03-31 02029675 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02029675 bus:RegisteredOffice 2023-04-01 2024-03-31 02029675 bus:Director3 2023-04-01 2024-03-31 02029675 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02029675 countries:EnglandWales 2023-04-01 2024-03-31 02029675 2022-04-01 2023-03-31 02029675 2023-03-31 02029675 core:CurrentFinancialInstruments 2023-03-31 02029675 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 02029675

Prepared for the registrar

Chapter Close Residents Association Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Chapter Close Residents Association Limited

(Registration number: 02029675)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

1,776

1,518

Cash at bank and in hand

 

2,565

3,657

 

4,341

5,175

Creditors: Amounts falling due within one year

5

(504)

(455)

Net assets

 

3,837

4,720

Capital and reserves

 

Called up share capital

7

7

Profit and loss account

3,830

4,713

Shareholders' funds

 

3,837

4,720

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 8 August 2024 and signed on its behalf by:
 

J R Armstrong
Director

   
     
 

Chapter Close Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
56 Church Path
Chiswick
London
W4 5BJ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the contributions receivable from the residents during the accounting period.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from residents for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Chapter Close Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

4

Debtors

2024
 £

2023
 £

Trade debtors

1,560

1,320

Prepayments

216

198

 

1,776

1,518

 

5

Creditors

2024
 £

2023
 £

Due within one year

Accrued expenses

504

455