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REGISTERED NUMBER: 02682550 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

The Limes Residents Association Ltd

The Limes Residents Association Ltd (Registered number: 02682550)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


The Limes Residents Association Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs V Jennings
Ms M Cant
D Bew
Ms S Clisby
B Sillick





SECRETARY: Ms L S Disley





REGISTERED OFFICE: Flat 5
The Limes
41 London Road
Halesworth
Suffolk
IP19 8LT





REGISTERED NUMBER: 02682550 (England and Wales)





ACCOUNTANTS: C.A. Evans & Company
Springroyd
Clapham Road
Austwick
Lancaster
LA2 8BE

The Limes Residents Association Ltd (Registered number: 02682550)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,704 111,504

CURRENT ASSETS
Debtors 5 7,700 13,359
Cash at bank and in hand 24,418 21,466
32,118 34,825
CREDITORS
Amounts falling due within one year 6 8,173 13,860
NET CURRENT ASSETS 23,945 20,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

133,649

132,469

PROVISIONS FOR LIABILITIES 22,800 22,800
NET ASSETS 110,849 109,669

CAPITAL AND RESERVES
Called up share capital 30 30
Retained earnings 110,819 109,639
110,849 109,669

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)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 Limes Residents Association Ltd (Registered number: 02682550)

Balance Sheet - continued
31 December 2023


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 18 July 2024 and were signed on its behalf by:




Mrs V Jennings - Director



D Bew - Director


The Limes Residents Association Ltd (Registered number: 02682550)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

The Limes Residents Association Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful life. The annual depreciation rates and methods are as follows:

Equipment - 25% reducing balance

The company has title to the freehold land situated at The Limes, London Road, Halesworth. The directors have estimated its fair value at 1 January 2015 at £1,000.

It also owns a leasehold warden's flat and a small office. The fair value of the leasehold property at 1 January 2015 was estimated at £119,000; this is being depreciated over the remaining term of the lease.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - NIL ) .

The Limes Residents Association Ltd (Registered number: 02682550)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 120,000 8,504 128,504
DEPRECIATION
At 1 January 2023 10,464 6,536 17,000
Charge for year 1,308 492 1,800
At 31 December 2023 11,772 7,028 18,800
NET BOOK VALUE
At 31 December 2023 108,228 1,476 109,704
At 31 December 2022 109,536 1,968 111,504

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,005 10,660
Other debtors 6,695 2,699
7,700 13,359

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 4,122 13,010
Taxation and social security 2,286 -
Other creditors 1,765 850
8,173 13,860

7. RELATED PARTY DISCLOSURES

Each of the following directors serving during the year have an interest in one ordinary share of £1 in the capital of the company.

During the year, the directors contributions towards service charges and ground rents levied by the company were:

- for Mr D Bew, Mrs S Clisby, Mr K Goodwin, Ms J Horbury, Ms V Jennings, Mr M Sheffield, Mr B Sillick and Ms S Vogt - £3,150 and
- for Ms M Cant - £4,000.