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COMPANY REGISTRATION NUMBER: 04624713
Derby Hill Residents Company Limited
Filleted Unaudited Financial Statements
31 December 2023
Derby Hill Residents Company Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
742
682
Cash at bank and in hand
2,878
2,762
------
------
3,620
3,444
Creditors: amounts falling due within one year
5
1,920
1,899
------
------
Net current assets
1,700
1,545
------
------
Total assets less current liabilities
1,700
1,545
------
------
Net assets
1,700
1,545
------
------
Capital and reserves
Called up share capital
6
6
Profit and loss account
1,694
1,539
------
------
Shareholders funds
1,700
1,545
------
------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr Spedding
Director
Company registration number: 04624713
Derby Hill Residents Company Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Derby Hill, Weeton Road, Weeton, Preson, Lancashire, PR4 3WG, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Freehold property
The company owns the freehold of the property for the benefit of the leaseholders. This freehold was vested in the company at no charge by the development company, Islay Developments Limited, and is therefore not attributed any value for the purposes of these accounts.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents service charges invoiced during the year.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Debtors
2023
2022
£
£
Other debtors
742
682
---
---
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
1,920
1,899
------
------
6. Related party transactions
The company exists to own the freehold of the development and to manage the common areas thereof. The shares in the company are held by the owners of the properties on the development. The company charges each shareholder including those who serve as directors an equal amount each year to enable it to meet its obligations.