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Registration number: 00950590

West Kingston Residents Association Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

image-name
 

West Kingston Residents Association Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

West Kingston Residents Association Limited

Company Information

Directors

Mrs L Burgess

Mr C Cooke

Mrs J L Smithers

Mr T Kimber

Mr A N Baritt

Mr N C Mustoe

Mr J A Hickson

Company secretary

Mrs T Down

Registered office

55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ

Solicitors

Miller Parris
3-9 Cricketers Parade
Broadwater Street West
Worthing
West Sussex
BN14 9DB

Accountants

Lucraft Hodgson & Dawes LLP
2/4 Ash Lane
Rustington
West Sussex
BN16 3BZ

 

West Kingston Residents Association Limited

(Registration number: 00950590)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

21,373

22,274

Other financial assets

5

12,758

7,548

 

34,131

29,822

Current assets

 

Debtors

6

5,786

10,501

Cash at bank and in hand

 

121,669

126,700

 

127,455

137,201

Creditors: Amounts falling due within one year

7

(6,285)

(12,816)

Net current assets

 

121,170

124,385

Net assets

 

155,301

154,207

Capital and reserves

 

Other reserves

67,750

67,750

Profit and loss account

87,551

86,457

Shareholders' funds

 

155,301

154,207

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income and expenditure account.

Approved and authorised by the Board on 3 October 2024 and signed on its behalf by:
 

 

West Kingston Residents Association Limited

(Registration number: 00950590)
Balance Sheet as at 31 March 2024

.........................................
Mr N C Mustoe
Director

.........................................
Mr J A Hickson
Director

 

West Kingston Residents Association Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
55-57 Sea Lane
Rustington
Littlehampton
West Sussex
BN16 2RQ
England

These financial statements were authorised for issue by the Board on 3 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Income represents the value of contributions and estate charges receivable by the company together with additional fees for planning and development consent.

 

West Kingston Residents Association Limited

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

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Estate road

Not depreciated

Gates, notices and fencing

straight line - 10%

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

West Kingston Residents Association Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 6).

 

West Kingston Residents Association Limited

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

4

Tangible assets

Gates, notices and fencing
£

Security bollards and barriers
 £

Estate roads
 £

Total
£

Cost or valuation

At 1 April 2023

20,485

13,149

3,982

37,616

Additions

-

1,638

-

1,638

At 31 March 2024

20,485

14,787

3,982

39,254

Depreciation

At 1 April 2023

14,614

728

-

15,342

Charge for the year

1,103

1,436

-

2,539

At 31 March 2024

15,717

2,164

-

17,881

Carrying amount

At 31 March 2024

4,768

12,623

3,982

21,373

At 31 March 2023

5,871

12,421

3,982

22,274

 

West Kingston Residents Association Limited

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

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

7,548

7,548

Additions

5,210

5,210

At 31 March 2024

12,758

12,758

Impairment

Carrying amount

At 31 March 2024

12,758

12,758

6

Debtors

Current

2024
£

2023
£

Trade debtors

5,786

10,501

 

5,786

10,501

 

West Kingston Residents Association Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

4,934

4,589

Taxation and social security

630

251

Accruals and deferred income

721

661

Other creditors

-

7,315

6,285

12,816