Registered number
01044903
Elms Way and Meadow Lane
Residents Association Limited
Filleted Accounts
31 May 2024
Elms Way and Meadow Lane Residents Association Limited
Registered number: 01044903
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1 1
Current assets
Debtors 4 161 161
Cash at bank and in hand 8,285 7,942
8,446 8,103
Creditors: amounts falling due within one year 5 (390) (240)
Net current assets 8,056 7,863
Net assets 8,057 7,864
Capital and reserves
Called up share capital 23 23
Other reserves 1 1
Profit and loss account 8,033 7,840
Shareholders' funds 8,057 7,864
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G S Headen
Director
Approved by the board on 3 December 2024
Elms Way and Meadow Lane Residents Association Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Income derives from levies paid to the company by shareholders in respect of services provided during the year.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings not depreciated
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 6
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 June 2023 1
At 31 May 2024 1
Depreciation
At 31 May 2024 -
Net book value
At 31 May 2024 1
At 31 May 2023 1
The company owns the freehold of the roads and verges of Meadow Lane and Elms Way. The nominal value of £1 is the original price of acquisition from Dove Developments.
4 Debtors 2024 2023
£ £
Other debtors 161 161
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 390 240
6 Other information
Elms Way and Meadow Lane Residents Association Limited is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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