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REGISTERED NUMBER: 06189912 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Arena Residents Association Limited
Company Limited by Guarantee

Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Arena Residents Association Limited
Company Limited by Guarantee

Company Information
for the Year Ended 31 March 2024







DIRECTORS: F Knowles
G Jarand
C Stephens
G McCartan
J Holden
N J Meggison
L R Baird-Murray
G Bates
J M O'Brien





SECRETARY: F Knowles





REGISTERED OFFICE: 3 - 5 College Street
Nottingham
Nottinghamshire
NG1 5AQ





REGISTERED NUMBER: 06189912 (England and Wales)

Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 245,000 245,000
245,000 245,000

CURRENT ASSETS
Debtors 6 21,564 31,473
Cash at bank 165,903 185,134
187,467 216,607
CREDITORS
Amounts falling due within one year 7 85,541 104,502
NET CURRENT ASSETS 101,926 112,105
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,926

357,105

CREDITORS
Amounts falling due after more than one
year

8

390,000

406,250
NET LIABILITIES (43,074 ) (49,145 )

RESERVES
Retained earnings (43,074 ) (49,145 )
(43,074 ) (49,145 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





F Knowles - Director


Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Arena 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents membership fees and ground rent received during the period as well as rental income from the letting of guest suites.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 260
DEPRECIATION
At 1 April 2023
and 31 March 2024 260
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 245,000
NET BOOK VALUE
At 31 March 2024 245,000
At 31 March 2023 245,000

Cost or Valuation at 31 March 2024 is represented by:

£
Cost 2009 415,734
Change in valuation (2012) (200,734 )
Change in valuation (2016) 20,000
Change in valuation (2021) 10,000
245,000

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 3,137 7,046
Other debtors 6,427 6,427
9,564 13,473

Amounts falling due after more than one year:
Other debtors 12,000 18,000

Aggregate amounts 21,564 31,473

Arena Residents Association Limited (Registered number: 06189912)
Company Limited by Guarantee

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,158 182
Taxation and social security 1,598 2,294
Other creditors 82,785 102,026
85,541 104,502

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 390,000 406,250

9. RELATED PARTY DISCLOSURES

At 31 March 2024 an amount of £80,784 (2023: £100,026) was held on behalf of the leaseholders in relation to the sinking fund.

Included in other creditors over one year was £390,000 (2023: £406,250) owed to the members which included £54,000 (2023: £56,250) for the directors.

10. COMPANY LIMITED BY GUARANTEE

Every member of the company undertakes to contribute such amount as may be required (not exceeding £1) to the company's assets if it should be wound up while he is a member or within one year after he ceases to be a member, for payment of the company's debts and liabilities contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves.

11. GOING CONCERN

The company has a balance sheet deficit of £43,073 (2023: £49,145). Included in creditors is an amount due to the members totalling £390,000 (2023: £406,250) which represents loans from members, the loans are repayable at the discretion of the company. The members are confident that there will be sufficient money to meet debts as they fall due. The accounts are therefore being prepared on the going concern basis.