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Registered number: 01512237
Marine Parade Flats (Clacton) Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 01512237
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,148 1,350
1,148 1,350
CURRENT ASSETS
Debtors 5 8,484 4,675
Cash at bank and in hand 43,197 44,700
51,681 49,375
Creditors: Amounts Falling Due Within One Year 6 (18,039 ) (23,488 )
NET CURRENT ASSETS (LIABILITIES) 33,642 25,887
TOTAL ASSETS LESS CURRENT LIABILITIES 34,790 27,237
NET ASSETS 34,790 27,237
Income and Expenditure Account 34,790 27,237
MEMBERS' FUNDS 34,790 27,237
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Mr J WRIGHT
Director
6th September 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Marine Parade Flats (Clacton) Limited Registered number 01512237 is a limited by guarantee company incorporated in England & Wales. The Registered Office is 145A CONNAUGHT AVE, FRINTON ON SEA, ESSEX, CO13 9AH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
2.2. Turnover
Turnover comprises the value of Services Charges and Ground Rent supplied by the company, net of Value Added Tax and trade discounts.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Nil
Fixtures & Fittings 15 % W. D.V.
2.4. Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
2.5. Registrar Filing Requirements
The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the income and expenditure account, directors report, and notes to the financial statements relating to the income and expenditure account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 1 13,241 13,242
As at 30 June 2024 1 13,241 13,242
Depreciation
As at 1 July 2023 - 11,892 11,892
Provided during the period - 202 202
As at 30 June 2024 - 12,094 12,094
Net Book Value
As at 30 June 2024 1 1,147 1,148
As at 1 July 2023 1 1,349 1,350
Page 2
Page 3
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,271 -
Prepayments and accrued income 5,213 4,675
8,484 4,675
Trade Debtors are amount due to the company with the next Accounting period.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,785 9,450
Corporation tax 68 39
Payments In Advance 15,215 12,697
Other creditors (1) 39 -
Accruals 932 1,302
18,039 23,488
Trade Creditors are amounts due for payment within the next Accounting period.
7. Provisions for Liabilities
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
9. Controlling Party
There is no controlling party of the Company due to its ownership.
Page 3