0 false false false false false false false false false false true false false false false false false 2023-12-01 Sage Accounts Production Advanced 2023 - FRS102_2023 91,000 91,000 91,000 xbrli:pure xbrli:shares iso4217:GBP 05314227 2023-12-01 2024-11-30 05314227 2024-11-30 05314227 2023-11-30 05314227 2022-12-01 2023-11-30 05314227 2023-11-30 05314227 2022-11-30 05314227 bus:Director4 2023-12-01 2024-11-30 05314227 core:WithinOneYear 2024-11-30 05314227 core:WithinOneYear 2023-11-30 05314227 core:OtherReservesSubtotal 2024-11-30 05314227 core:OtherReservesSubtotal 2023-11-30 05314227 core:RetainedEarningsAccumulatedLosses 2024-11-30 05314227 core:RetainedEarningsAccumulatedLosses 2023-11-30 05314227 core:LandBuildings 2024-11-30 05314227 core:LandBuildings 2023-11-30 05314227 bus:SmallEntities 2023-12-01 2024-11-30 05314227 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 05314227 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 05314227 bus:CompanyLimitedByGuarantee 2023-12-01 2024-11-30 05314227 bus:FullAccounts 2023-12-01 2024-11-30 05314227 core:CapitalReserve 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: 05314227
THE HOLWOOD TRUST LIMITED
Company Limited by Guarantee
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2024
THE HOLWOOD TRUST LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
THE HOLWOOD TRUST LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
91,000
91,000
Current assets
Debtors
6
46,480
47,940
Cash at bank and in hand
249,994
235,362
---------
---------
296,474
283,302
Creditors: amounts falling due within one year
7
11,988
13,036
---------
---------
Net current assets
284,486
270,266
---------
---------
Total assets less current liabilities
375,486
361,266
---------
---------
Net assets
375,486
361,266
---------
---------
Capital and reserves
Other reserves
8
318,000
318,000
Operating surplus
8
57,486
43,266
---------
---------
Members funds
375,486
361,266
---------
---------
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 income and retained surplus has not been delivered.
For the year ending 30 November 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 .
THE HOLWOOD TRUST LIMITED
COMPANY LIMITED BY GUARANTEE
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2024
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
A R Glover
Director
Company registration number: 05314227
THE HOLWOOD TRUST LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 92 High Street, East Grinstead, England, RH19 3DF. The company is a not for profit property management company operated for the purposes of maintaining communal and woodland areas of the Holwood Estate.
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.
Departure from Companies Act regulations
The company is a not for profit residents management company responsible for managing the communal land, gardens and woodland areas situated in and around The Holwood Estate. The company is run for the purpose of collecting contributions from residents living in The Holwood Estate and using the funds generated to carry out the maintenance and general upkeep of the aforementioned areas of the Estate.
The company is not carrying on a trade and, as such, qualifies as a mutual trading company whereby the company does not make a profit or loss. Because the company does not carry on a trade for profit, the references to profit and loss which would ordinarily be expected to be found in a set of Financial Statements complying with FRS 102 (including Section 1A) legislation have been replaced with reference to a surplus or deficit. This presentation allows for the Financial Statements to be properly understood by the primary stakeholders; management and the residents.
Revenue recognition
The turnover shown in the income and expenditure account represents amounts invoiced during the year.
Income tax
The company meets the mutual trading criteria and as such any surplus arising in relation to the maintenance of the estate is considered exempt from Corporation Tax. Under the normal investment income rules the company suffers Corporation Tax on the bank interest it receives. The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in the income and expenditure account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
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.
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.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
4. Company limited by guarantee
The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £1.
5. Tangible assets
Land and buildings
£
Cost
At 1 December 2023 and 30 November 2024
91,000
--------
Depreciation
At 1 December 2023 and 30 November 2024
--------
Carrying amount
At 30 November 2024
91,000
--------
At 30 November 2023
91,000
--------
6. Debtors
2024
2023
£
£
Trade debtors
7,539
2,173
Other debtors
38,941
45,767
--------
--------
46,480
47,940
--------
--------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
8,878
11,424
Corporation tax
2,180
682
Other creditors
930
930
--------
--------
11,988
13,036
--------
--------
8. Reserves
Other Reserves is made up of two balances one being a a General Reserve of £225,000 and the other a 30 Acres Reserve of £93,000 both these reserves contain retained funds held for large or exceptional one off capital expenditure.