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Company registration number: 04700720
Seymour Gardens Residents Association Limited
Unaudited filleted financial statements
31 March 2024
Seymour Gardens Residents Association Limited
Contents
Statement of financial position
Notes to the financial statements
Seymour Gardens Residents Association Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 179,821 180,942
_______ _______
179,821 180,942
Current assets
Debtors 6 28,801 18,714
Cash at bank and in hand 60,565 78,457
_______ _______
89,366 97,171
Creditors: amounts falling due
within one year 7 ( 37,097) ( 36,306)
_______ _______
Net current assets 52,269 60,865
_______ _______
Total assets less current liabilities 232,090 241,807
_______ _______
Net assets 232,090 241,807
_______ _______
Capital and reserves
Called up share capital 8 25 25
Share premium account 169,006 169,006
Profit and loss account 63,059 72,776
_______ _______
Shareholders funds 232,090 241,807
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
J C Seymour H L Payne
Director Director
Company registration number: 04700720
Seymour Gardens Residents Association Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, B16 9HN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Freehold property has been initially included at cost and not fair value. freehold land and buildings are not depreciated.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to property - 5 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2023:0).
5. Tangible assets
Freehold property Improvments to property Total
£ £ £
Cost
At 1 April 2023 and 31 March 2024 166,362 22,427 188,789
_______ _______ _______
Depreciation
At 1 April 2023 - 7,847 7,847
Charge for the year - 1,121 1,121
_______ _______ _______
At 31 March 2024 - 8,968 8,968
_______ _______ _______
Carrying amount
At 31 March 2024 166,362 13,459 179,821
_______ _______ _______
At 31 March 2023 166,362 14,580 180,942
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 28,801 18,714
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Payments received on account 31,390 31,390
Accruals and deferred income 4,010 3,771
Other creditors 1,697 1,145
_______ _______
37,097 36,306
_______ _______
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares of £ 1.00 each 25 25 25 25
_______ _______ _______ _______