REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00607911) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pavilion View |
19 New Road |
Brighton |
East Sussex |
BN1 1EY |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00607911) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank | 6 |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
Retained earnings |
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. |
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 |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00607911) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Westcombe Residents Association Limited is a private company, limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the company information page. |
The presentation currency of the financial statements is the pound sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable and represents maintenance contributions demanded from the members of the company. |
Maintenance contributions are recognised when demands are raised against the members of the company. |
Tangible fixed assets |
Plant and machinery | - |
Taxation |
Taxation for the year comprises current 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 that have been enacted or substantively enacted by the balance sheet date. |
As a flat management company the company is chargeable to income tax on its interest that it receives gross. No provision for taxation is currently made as HM Revenue & Customs are not currently collecting amounts due as the liability is miniscule. |
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expense. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
WESTCOMBE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00607911) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Maintenance contributions receivable |
Other debtors |
6. | CASH AT BANK |
The Bank account is a Graves Son & Pilcher Client Account re Westcombe. This is a Barclay's client money trust, interest-bearing account held at Barclays Corporate Banking, 90-92 High Street, Crawley RH10 1BP. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Other creditors |
8. | LIMITED BY GUARANTEE |
The company is limited by guarantee and consequently has no share capital. In the event of a winding up of the company the liability of each member is limited to £50. |
9. | ANNUAL DECLARATION |
Graves Son & Pilcher LLP has received income, related income and other benefits in relation to the service charge for the property for the period of these accounts as follows: |
- Payment for handling insurance activities £nil |
- Payment for management fees £7,696.73 |
- Payment for fees for other services £1,400.00 |
- Surveying services provided by an associated company, Overill Associates Ltd. £nil |