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REGISTERED NUMBER: 01976920 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

WAVENDON FIELDS RESIDENTS LIMITED

WAVENDON FIELDS RESIDENTS LIMITED (REGISTERED NUMBER: 01976920)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WAVENDON FIELDS RESIDENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTORS: P Addyman
Dr J W Ballard
J H Bunker
Mrs E J Beales
Ms L J Ryals





SECRETARY: P&R Management Services (Uk) Ltd





REGISTERED OFFICE: 9 High Street
Woburn Sands
Milton Keynes
Buckinghamshire
MK17 8RF





REGISTERED NUMBER: 01976920 (England and Wales)





ACCOUNTANTS: Camfield Chapman Lowe
9a High Street
Woburn Sands
Milton Keynes
Buckinghamshire
MK17 8RF

WAVENDON FIELDS RESIDENTS LIMITED (REGISTERED NUMBER: 01976920)

STATEMENT OF FINANCIAL POSITION
30TH JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 19,288 15,560

CURRENT ASSETS
Debtors 5 4,162 1,897
Cash at bank and in hand 72,503 70,057
76,665 71,954
CREDITORS
Amounts falling due within one year 6 7,534 1,256
NET CURRENT ASSETS 69,131 70,698
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,419

86,258

CAPITAL AND RESERVES
Called up share capital 901 901
Freehold acquisition reserve
fund 28,571 28,571
Property maintenance reserve 58,947 56,786
SHAREHOLDERS' FUNDS 88,419 86,258

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WAVENDON FIELDS RESIDENTS LIMITED (REGISTERED NUMBER: 01976920)

STATEMENT OF FINANCIAL POSITION - continued
30TH JUNE 2024


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th March 2025 and were signed on its behalf by:




P Addyman - Director



Dr J W Ballard - Director


WAVENDON FIELDS RESIDENTS LIMITED (REGISTERED NUMBER: 01976920)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

Wavendon Fields Residents Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the annual maintenance and administration contributions receivable from residents during the year. None of the company's turnover relates to exports.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Gardening equipment - 25% on cost
Satellite TV system - 25% on cost

Taxation
No liability to UK corporation tax arose on ordinary activities for the year ended 30 June 2024 nor for the year ended 30 June 2023.

Under current tax regulations, the company is not liable to corporation tax on income generated from the service charges receivable.

The company would normally be liable to corporation tax on any other sources of income, included bank deposit interest. However, HMRC has granted a concession exempting the company from liability to tax as long as these sources of income remain relatively insignificant.

Provision for maintenance costs
In order to make allowance for maintenance obligations, the company makes annual provisions equivalent to the excess of the maintenance charges receivable, over the operating expenses, for each financial year during which a surplus arises. The provision has been reallocated to a Property Maintenance Reserve, in keeping with the requirements of FRS102. Reserves are released to fund shortfalls of income in the years in which major expenditure is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

WAVENDON FIELDS RESIDENTS LIMITED (REGISTERED NUMBER: 01976920)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. TANGIBLE FIXED ASSETS
Freehold Gardening Satellite
property equipment TV system Totals
£    £    £    £   
COST
At 1st July 2023 28,812 6,075 2,303 37,190
Additions - 5,299 - 5,299
Disposals - (3,026 ) - (3,026 )
At 30th June 2024 28,812 8,348 2,303 39,463
DEPRECIATION
At 1st July 2023 13,252 6,075 2,303 21,630
Charge for year 577 994 - 1,571
Eliminated on disposal - (3,026 ) - (3,026 )
At 30th June 2024 13,829 4,043 2,303 20,175
NET BOOK VALUE
At 30th June 2024 14,983 4,305 - 19,288
At 30th June 2023 15,560 - - 15,560

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 2,070 -
Other debtors 2,092 1,897
4,162 1,897

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 7,534 1,256

7. RELATED PARTY DISCLOSURES

During the year the residents were charged £1,380 per flat (2023: £1,200) for their share of the management and maintenance costs.

At the year end, there was an amount of £2,070 left to pay.