Registered number
02066372
Wells Close Management Company Limited
Filleted Accounts
31 December 2023
Wells Close Management Company Limited
Registered number: 02066372
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 4,212 4,212
Current assets
Cash at bank and in hand 9,258 10,227
Creditors: amounts falling due within one year 4 (953) (923)
Net current assets 8,305 9,304
Net assets 12,517 13,516
Capital and reserves
Called up share capital 11 11
Share premium 4,609 4,609
Profit and loss account 7,897 8,896
Shareholders' funds 12,517 13,516
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Robert Edward Joynes
Director
Approved by the board on 13/09/2024
Wells Close Management Company Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover comprises the service charge contributions receivable from members, net of value added taxes, and is accounted for on an accruals basis.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 4,212
At 31 December 2023 4,212
Depreciation
At 31 December 2023 -
Net book value
At 31 December 2023 4,212
At 31 December 2022 4,212
4 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 953 923
5 Other information
Wells Close Management Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
6 Wells Close
Clarence Road
Tunbridge Wells
Kent
TN1 1HF
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