REGISTERED NUMBER: |
BAXENDALE RESIDENTS ASSOCIATION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
REGISTERED NUMBER: |
BAXENDALE RESIDENTS ASSOCIATION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
BAXENDALE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00953777) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
BAXENDALE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00953777) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Income and expenditure account | ( |
) |
SHAREHOLDERS' FUNDS |
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 surplus or deficit 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 |
BAXENDALE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00953777) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Baxendale Residents Association Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going concern |
Guarantors continue to financially support the company therefore the accounts have been prepared on a going concern basis. |
Turnover |
Turnover represents the amount of services provided and charged during the year. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Debtors |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Payments on account |
Trade creditors |
Creditors and accruals |
6. | CONTINGENT LIABILITIES |
The company has a contingent liability in respect of major works required dredging the lake. |
Based on quotes received to date the company estimates the cost of these works to be approximately £150,000. |
At the balance sheet date the company has not entered into any contract for the performance of these works that are scheduled for year ended 31 March 2025. |
BAXENDALE RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00953777) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | RELATED PARTY DISCLOSURES |
A related party to the company is Baxendale Residents (Holdings) Ltd - a company which is owned by the same shareholders and managed by the same directors. |
At the balance sheet date an amount of £12,285 (2023: £14,605) was due to the related party and is included in creditors and accruals as a loan. The loan, which is due on demand and interest free, has been made to provide Baxendale Residents Association Ltd with working capital on an on-going basis and its repayment would therefore require the company to obtain alternative funds. |
Baxendale Residents Association Ltd collects the insurance premiums due to the related party from the householders of the Baxendale estate and deals with the payment of the premium and other expenses on its behalf. During the year a management charge of £700 (2023: £700) was made to the related party in respect of management and administration services provided. |
The total value of the transactions dealt with in this way for the related party are receivables of £16,935 (2023: £19,320) and expenditure (inclusive of the management charge) of £19,255 (2023: £21,466). |
Baxendale Residents (Holdings) Ltd has given an undertaking to Baxendale Residents Association Ltd to continue to provide support through the continuation of the loan account at its existing level for the foreseeable future. |
The directors contribute maintenance charges on the same basis as other members of the company. |