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Registration number: 1160296

Willowhayne Residents' Association Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

image-name
 

Willowhayne Residents' Association Limited

Contents

Company Information

1

Assurance report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Willowhayne Residents' Association Limited

Company Information

Chairman

Michael Alexander Allen

Directors

Brian Trevor Daley

Terence Burke

Martin Ian Stuart Mandelbaum

Christopher David Bowman

John Anthony McAdams

John Howard Coleman

Andrew Robert Nicholson

Maureen Joyce Setterfield

Company secretary

Hobdens Property Management Limited

Registered office

41A Beach Road
Littlehampton
West Sussex
BN17 5JA

Accountants

Lucraft Hodgson & Dawes LLP
Chartered Accountants
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

 

Independent Chartered Accountants' Review Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Willowhayne Residents' Association Limited
for the Year Ended 31 December 2024

We have reviewed the financial statements of Willowhayne Residents' Association Limited for the year ended 31 December 2024 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

Use of our report
This report is made solely to the Board of Directors of Willowhayne Residents' Association Limited, as a body, in accordance with the terms of our engagement letter. Our review work has been undertaken so that we might state to the company's directors those matters we have agreed to state to them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Willowhayne Residents' Association Limited and its Board of Directors as a body for our work or for this report.

Directors' Responsibility for the Financial Statements
It is your duty to ensure that Willowhayne Residents' Association Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Willowhayne Residents' Association Limited. You consider that Willowhayne Residents' Association Limited is exempt from the statutory audit requirement for the year.

Accountants' Responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with the International Standard on Review Engagements (ISRE) 2400 (Revised) Engagements to review historical financial statements and ICAEW technical release TECH 09/13AAF (Revised) Assurance review engagements on historical financial statements. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 Section 1A. The Financial Reporting Standard applicable in the UK and Republic of Ireland. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
• so as to give a true and fair view of the state of the Willowhayne Residents' Association Limited affairs as at 31 December 2024, and of its profit for the year then ended;
• in accordance with United Kingdom Generally Accepted Accounting Practice; and
• in accordance with the requirements of the Companies Act 2006
 

.....................................

Guy Michael Butterworth

Lucraft Hodgson & Dawes LLP
Chartered Accountants
2/4 Ash Lane
Rustington
Littlehampton
West Sussex
BN16 3BZ

27 May 2025

 

Willowhayne Residents' Association Limited

(Registration number: 1160296)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1

1

Current assets

 

Debtors

6

1,187

778

Cash at bank and in hand

 

341,317

238,730

 

342,504

239,508

Creditors: Amounts falling due within one year

7

(24,462)

(26,029)

Net current assets

 

318,042

213,479

Net assets

 

318,043

213,480

Capital and reserves

 

Profit and loss account

318,043

213,480

Shareholders' funds

 

318,043

213,480

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income and expenditure account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Brian Trevor Daley
Director

 

Willowhayne Residents' Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

The address of its registered office is:
41A Beach Road
Littlehampton
West Sussex
BN17 5JA

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.

Revenue recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

Income represents the value of contributions and estate management charges receivable by the company.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Willowhayne Residents' Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

2

Accounting policies (continued)

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

No depreciation is provided on freehold land, which is stated at historical cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

3

Staff numbers

The average number of persons holding office in the company (including directors) during the year, was 9 (2023 - 8). All the directors are unpaid volunteers and the company does not have any employees.

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Fees for reporting accountant

1,560

1,560

 

Willowhayne Residents' Association Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2024

1

1

At 31 December 2024

1

1

Depreciation

Carrying amount

At 31 December 2024

1

1

At 31 December 2023

1

1

Included within the net book value of land and buildings above is £1 (2023 - £1) in respect of freehold land and buildings.
 

6

Debtors

Current

2024
£

2023
£

Prepayments

922

778

Other debtors

265

-

 

1,187

778

7

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Creditors

 

2,068

4,052

Other payables

 

15,519

16,725

Accrued expenses

 

4,471

3,640

Income tax liability

2,404

1,612

 

24,462

26,029