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COMPANY REGISTRATION NUMBER: 01259913
Bramwoods Residents Association Limited
Filleted Unaudited Financial Statements
31 March 2024
Bramwoods Residents Association Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Current assets
Debtors
6
4,014
2,553
Cash at bank and in hand
44,637
25,658
--------
--------
48,651
28,211
Creditors: amounts falling due within one year
7
2,946
3,555
--------
--------
Net current assets
45,705
24,656
--------
--------
Total assets less current liabilities
45,705
24,656
--------
--------
Net assets
45,705
24,656
--------
--------
Capital and reserves
Called up share capital
8
30
30
Repair and redecoration reserve
45,675
24,626
--------
--------
Shareholders funds
45,705
24,656
--------
--------
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 income statement 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 .
These financial statements were approved by the board of directors and authorised for issue on 3 December 2024 , and are signed on behalf of the board by:
S Parr
P Mears
Director
Director
Company registration number: 01259913
Bramwoods 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 Goldlay House, Parkway, Chelmsford, Essex, CM2 7PR.
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 as shown in the income and expenditure account represents maintenance charges receivable from residents.
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.
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:
Plant and Machinery
-
15% straight line
Impairment of fixed assets
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.
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. Average number of employees
The average number of employees during the year was 5 (2023: 5) which consisted of the directors only.
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 April 2023 and 31 March 2024
849
849
----
----
Depreciation
At 1 April 2023 and 31 March 2024
849
849
----
----
Carrying amount
At 31 March 2024
----
----
At 31 March 2023
----
----
6. Debtors
2024
2023
£
£
Trade debtors
465
95
Prepayments and accrued income
3,549
2,458
-------
-------
4,014
2,553
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
2,130
2,765
Accruals and deferred income
816
790
-------
-------
2,946
3,555
-------
-------
8. Called up share capital
Authorised share capital
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
30
30
30
30
----
----
----
----
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
30
30
30
30
----
----
----
----
9. Related party transactions
The company conducted transactions of £520 (2023: £2,065) with two directors in the year.