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Registration number: 03191423

Claxton Mill Residents Association Limited

(A company limited by guarantee)

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Claxton Mill Residents Association Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 8

 

Claxton Mill Residents Association Limited

Company Information

Directors

Dr P Barker

S T Johnson

H C Balmer

Company secretary

H C Balmer

Registered office

The Far End Claxton Mill
Claxton
Norwich
Norfolk
NR14 7UG

Accountants

Headspace Accountancy Ltd
Chartered Accountants
Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

 

Claxton Mill Residents Association Limited

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Dr P Barker

Dr M M I Comley - Company secretary and director (Resigned 22 May 2023)

Mr N R Attwood (Resigned 22 May 2023)

S T Johnson (appointed 27 June 2023)

H C Balmer - Company secretary and director (appointed 11 July 2023)

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 18 August 2024 and signed on its behalf by:
 

.........................................
S T Johnson
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Claxton Mill Residents Association Limited
for the Year Ended 30 April 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 Claxton Mill Residents Association Limited for the year ended 30 April 2024 as set out on pages 4 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Claxton Mill Residents Association Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Claxton Mill Residents Association Limited and state those matters that we have agreed to state to the Board of Directors of Claxton Mill Residents Association Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Claxton Mill Residents Association Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Claxton Mill Residents Association Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Claxton Mill Residents Association Limited. You consider that Claxton Mill Residents Association Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Claxton Mill Residents Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Headspace Accountancy Ltd
Chartered Accountants
Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

18 August 2024

 

Claxton Mill Residents Association Limited

Profit and Loss Account for the Year Ended 30 April 2024

Note

2024
£

2023
£

Turnover

 

6,041

4,953

Gross surplus

 

6,041

4,953

Administrative expenses

 

(4,973)

(3,927)

Operating surplus

 

1,068

1,026

Surplus before tax

1,068

1,026

Surplus for the financial year

 

1,068

1,026

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Claxton Mill Residents Association Limited

(Registration number: 03191423)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

111

-

Cash at bank and in hand

 

33,350

30,921

 

33,461

30,921

Creditors: Amounts falling due within one year

5

(1,772)

(300)

Net assets

 

31,689

30,621

Reserves

 

Retained earnings

31,689

30,621

Surplus

 

31,689

30,621

For the financial year ending 30 April 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.

Approved and authorised by the Board on 18 August 2024 and signed on its behalf by:
 

.........................................
S T Johnson
Director

 

Claxton Mill Residents Association Limited

Statement of Changes in Equity for the Year Ended 30 April 2024

Retained earnings
£

Total
£

At 1 May 2023

30,621

30,621

Surplus for the year

1,068

1,068

At 30 April 2024

31,689

31,689

Retained earnings
£

Total
£

At 1 May 2022

29,595

29,595

Surplus for the year

1,026

1,026

At 30 April 2023

30,621

30,621

 

Claxton Mill Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
The Far End Claxton Mill
Claxton
Norwich
Norfolk
NR14 7UG

These financial statements were authorised for issue by the Board on 18 August 2024.

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Claxton Mill Residents Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. 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 receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Debtors

Current

2024
£

2023
£

Prepayments

111

-

 

111

-

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,772

300