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COMPANY REGISTRATION NUMBER: 1139790
Totteridge Farm Residents Management Limited
Filleted Unaudited Financial Statements
31 March 2024
Totteridge Farm Residents Management Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Totteridge Farm Residents Management Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
1
1
Current assets
Debtors
6
7,695
8,045
Cash at bank and in hand
7,048
13,357
--------
--------
14,743
21,402
Creditors: Amounts falling due within one year including provisions
7
8,725
15,510
--------
--------
Net current assets
6,018
5,892
-------
-------
Total assets less current liabilities
6,019
5,893
-------
-------
Net assets
6,019
5,893
-------
-------
Capital and reserves
Called up share capital
95
95
Service Charge Reserve Account
5,924
5,798
-------
-------
Shareholders funds
6,019
5,893
-------
-------
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 comprehensive income has not been delivered.
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 .
Totteridge Farm Residents Management Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 4 November 2024 , and are signed on behalf of the board by:
Mr E E Querfurth
Director
Company registration number: 1139790
Totteridge Farm Residents Management 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 34 Badgers Croft, Totteridge Village, London, N20 8AH.
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.
Revenue recognition
The turnover shown in the profit and loss account represents service charges received during the year.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
4. Turnover and provision for bad debt note:
The turnover for the Year Ended 31 March 2023 includes service charge demands of £13,300 plus Enfranchisment Charges of £9,500, totalling £22,800. Of the Enfranchisment Charges, only 1 leaseholder has paid, and therefore the balance of £7,125 has been provided for a bad debt. In addition, the 3 unpaid fees have also incurred statutory interest demands at 8%, equating to £190 per leasehold, £570 in total. As the interest has not been paid, this has also been provided for as a bad debt, meaning a total bad debt provision of £7,695, shown within Other Creditors.
5. Tangible assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
1
----
Depreciation
At 1 April 2023 and 31 March 2024
----
Carrying amount
At 31 March 2024
1
----
At 31 March 2023
1
----
6. Debtors
2024
2023
£
£
Trade debtors
7,695
8,045
-------
-------
7. Creditors: Amounts falling due within one year including
provisions
2024
2023
£
£
Other creditors
8,725
15,510
-------
--------
8. Related party transactions
The company was not under the control of any one person or entity throughout the current and previous year. Mr E Querfurth, Ms C Cooper-Bland and Mr R Humphreys, all directors, are involved in the day to day running of the Company's affairs. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard FRS102 (Section A).