Highlands Village Hall Management Association Limited Filleted Accounts Cover
Highlands Village Hall Management Association Limited
Company No. 06435955
Information for Filing with The Registrar
31 August 2024
Highlands Village Hall Management Association Limited Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 August 2024.
Principal activities
The principal activity of the company during the year under review was management of local hall.
Directors
The Directors who served at any time during the year were as follows:
Julie Kenan
Stanley Rondeau
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
Julie Kenan
Director
02 May 2025
Highlands Village Hall Management Association Limited Balance Sheet Registrar
at
31 August 2024
Company No.
06435955
Notes
2024
2023
£
£
Fixed assets
Tangible assets
4
25,56127,213
25,56127,213
Current assets
Debtors
5
-1,189
Cash at bank and in hand
31,40236,568
31,40237,757
Creditors: Amount falling due within one year
6
(20,949)
(12,423)
Net current assets
10,45325,334
Total assets less current liabilities
36,01452,547
Net assets
36,01452,547
Reserves
Income and expenditure account
7
36,01452,547
Total equity
36,01452,547
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's income and expenditure account.
Approved by the board on 02 May 2025 and signed on its behalf by:
Julie Kenan
Director
02 May 2025
Highlands Village Hall Management Association Limited Notes to the Accounts Registrar
for the year ended 31 August 2024
1
General information
Highlands Village Hall Management Association Limited is a private company limited by guarantee and incorporated in England and Wales.
Its registered number is: 06435955
Its registered office is:
5 Florey Square
Winchmore Hill
London
N21 1UJ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.
Intangible fixed assets
Intangible fixed assets are carried at cost less accumulated amortisation and impairment losses.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from the surplus as reported in the income and expenditure account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in the income and expenditure account, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the income and expenditure account.

No depreciation is provided in respect of investment properties.
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Leased assets
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in the income and expenditure account, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the income and expenditure account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2024
2023
Number
Number
The average monthly number of employees (including directors) during the year was:
00
4
Tangible fixed assets
Land and buildings
Fixtures, fittings and equipment
Total
£
£
£
Cost or revaluation
At 1 September 2023
26,47140,69967,170
At 31 August 2024
26,47140,69967,170
Depreciation
At 1 September 2023
8,97530,98239,957
Charge for the year
8757771,652
At 31 August 2024
9,85031,75941,609
Net book values
At 31 August 2024
16,6218,94025,561
At 31 August 2023
17,4969,71727,213
5
Debtors
2024
2023
£
£
Prepayments and accrued income
-1,189
-1,189
6
Creditors:
amounts falling due within one year
2024
2023
£
£
Other creditors
20,0498,023
Accruals and deferred income
9004,400
20,94912,423
7
Reserves
Income and expenditure account - includes all current and prior period retained surpluses and deficits.
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