Company registration number 06866588 (England and Wales)
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
COMPANY INFORMATION
Directors
A Kendall
B W Power
L P Smith
P H Berry
Company number
06866588
Registered office
Francis House
2 Park Road
Barnet
Herts
EN5 5RN
United Kingdom
Accountants
JF Francis Ltd
Francis House
2 Park Road
Barnet
Herts
EN5 5RN
United Kingdom
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
31,500
31,500
Current assets
Debtors
5
2,944
9,435
Cash at bank and in hand
8,855
12,643
11,799
22,078
Creditors: amounts falling due within one year
6
(33,419)
(44,706)
Net current liabilities
(21,620)
(22,628)
Net assets
9,880
8,872
Reserves
Income and expenditure account
9,880
8,872
Members' funds
9,880
8,872

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 30 October 2024 and are signed on its behalf by:
A Kendall
Director
Company registration number 06866588 (England and Wales)
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

St Andrews Community Housing Association Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is Francis House, 2 Park Road, Barnet, Herts, United Kingdom, EN5 5RN.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

1.2
Income and expenditure

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from rendering of services,. Turnover from the sales of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference if completion of the contract. The stage of completion of contract is measured by comparing the cost incurred for work performed to date to the total estimated contract costs.

 

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Taxation

A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments, Unrelieved tax losses and other deferred 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, expect for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

1.7
Provisions

Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of obligation can be estimated reliably.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

1.9
Leases

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

1.10
Foreign exchange

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial estimates.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
31,500

Other investments are ground rents for former social housing units, and are valued by the directors. In the opinion of the directors the value at the balance sheet date was not materially different from cost.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
1,450
6,755
Other debtors
1,494
2,680
2,944
9,435
ST ANDREWS COMMUNITY HOUSING ASSOCIATION LTD
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,320
1,188
Taxation and social security
233
233
Other creditors
29,866
43,285
33,419
44,706
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2024-03-312023-04-01false30 October 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityA KendallB W PowerL P SmithP H BerryA A Rodriguesfalsefalse068665882023-04-012024-03-3106866588bus:Director12023-04-012024-03-3106866588bus:Director22023-04-012024-03-3106866588bus:Director32023-04-012024-03-3106866588bus:Director42023-04-012024-03-3106866588bus:Director52023-04-012024-03-3106866588bus:RegisteredOffice2023-04-012024-03-31068665882024-03-31068665882023-03-3106866588core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3106866588core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106866588core:CurrentFinancialInstruments2024-03-3106866588core:CurrentFinancialInstruments2023-03-3106866588core:RetainedEarningsAccumulatedLosses2024-03-3106866588core:RetainedEarningsAccumulatedLosses2023-03-31068665882022-04-012023-03-31068665882023-03-3106866588core:WithinOneYear2024-03-3106866588core:WithinOneYear2023-03-3106866588bus:CompanyLimitedByGuarantee2023-04-012024-03-3106866588bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3106866588bus:FRS1022023-04-012024-03-3106866588bus:AuditExemptWithAccountantsReport2023-04-012024-03-3106866588bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP