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Registration number: 01940089

Limes Court Residents Association Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Limes Court Residents Association Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 7

 

Limes Court Residents Association Limited

Company Information

Directors

C Greaves

D Wilson

Company secretary

D Wilson

Registered office

Unit 5
Brunel Business Court
Bury St Edmunds
Suffolk
IP32 7AJ

Accountants

Hodson Lewis Limited
Certified Accountants and Business Advisors
First Floor
Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Limes Court Residents Association Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Limes Court Residents Association Limited for the year ended 31 December 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Limes Court Residents Association Limited, as a body, in accordance with the terms of our engagement letter dated 1 May 2009. Our work has been undertaken solely to prepare for your approval the accounts of Limes Court Residents Association Limited and state those matters that we have agreed to state to the Board of Directors of Limes Court Residents Association Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Limes Court 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 Limes Court 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 loss of Limes Court Residents Association Limited. You consider that Limes Court 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 Limes Court 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.

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

Hodson Lewis Limited
Certified Accountants and Business Advisors
First Floor
Abbotsgate House
Hollow Road
Bury St Edmunds
Suffolk
IP32 7FA

22 August 2024

 

Limes Court Residents Association Limited

(Registration number: 01940089)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

30,802

Current assets

 

Debtors

5

30

3,602

Cash at bank and in hand

 

-

47,231

 

30

50,833

Creditors: Amounts falling due within one year

6

-

(19,812)

Net current assets

 

30

31,021

Net assets

 

30

61,823

Capital and reserves

 

Called up share capital

7

30

30

Retained earnings

-

61,793

Shareholders' funds

 

30

61,823

For the financial year ending 31 December 2023 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 August 2024 and signed on its behalf by:
 

.........................................
D Wilson
Director

 

Limes Court Residents Association Limited

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

1

General information

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

The address of its registered office is:
Unit 5
Brunel Business Court
Bury St Edmunds
Suffolk
IP32 7AJ

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Limes Court Residents Association Limited

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

Asset class

Depreciation method and rate

Plant and machinery

Reducing Balance 25%/10%

Freehold land and buildings

Straight line 1%

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 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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Limes Court Residents Association Limited

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

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

16,656

34,703

51,359

Disposals

(16,656)

(34,703)

(51,359)

At 31 December 2023

-

-

-

Depreciation

At 1 January 2023

3,674

16,883

20,557

Eliminated on disposal

(3,674)

(16,883)

(20,557)

At 31 December 2023

-

-

-

Carrying amount

At 31 December 2023

-

-

-

At 31 December 2022

12,982

17,820

30,802

Included within the net book value of land and buildings above is £Nil (2022 - £12,982) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Prepayments

-

3,602

Other debtors

30

-

 

30

3,602

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

-

19,812

 

Limes Court Residents Association Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

30

30

30

30