Registration number:
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
for the Year Ended 30 September 2024
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Contents
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Company Information |
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Directors' Report |
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Profit and Loss Account |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Company Information
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Directors |
Margaret Lilian Burt Jacquelyn Mary Thomas Mr Stefano Rigolli |
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Registered office |
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Accountants |
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WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Directors' Report for the Year Ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of maintaining and managing the property on behalf of the residents. The company was formed to acquire the freehold reversions to Willridge Court, 59 Wallwood Road, Leytonstone, London, E11 1QR.
Small companies provision statement
This report has 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.
Approved and authorised by the
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WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Profit and Loss Account for the Year Ended 30 September 2024
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Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit/(loss) |
- |
- |
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Profit/(loss) before tax |
- |
- |
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Profit/(loss) for the financial year |
- |
- |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Statement of Comprehensive Income for the Year Ended 30 September 2024
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2024 |
2023 |
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Profit/(loss) for the year |
- |
- |
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Total comprehensive income for the year |
- |
- |
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
(Registration number: 01211633)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
2,400 |
2,400 |
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Share premium reserve |
60 |
60 |
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Shareholders' funds |
2,460 |
2,460 |
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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.
Approved and authorised by the
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WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Statement of Changes in Equity for the Year Ended 30 September 2024
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Share capital |
Share premium |
Total |
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At 1 October 2023 |
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At 30 September 2024 |
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Share capital |
Share premium |
Total |
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At 1 October 2022 |
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At 30 September 2023 |
2,400 |
60 |
2,460 |
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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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.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Asset class |
Depreciation method and rate |
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Freehold property |
None provided; The directors are of the opinion that any charge would be immaterial and not affect the true and fair view of the financial statements. |
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 debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Leases
The leases owned by the company expire on 24 June 2130.
As the company is owned by the leaseholders, it is expected that the terms of these leases would be extended, or renewed, as necessary sometime in the future.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
WILLRIDGE COURT RESIDENTS ASSOCIATION LIMITED
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 October 2023 |
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At 30 September 2024 |
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Depreciation |
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Carrying amount |
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At 30 September 2024 |
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At 30 September 2023 |
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Included within the net book value of land and buildings above is £1,736 (2023 - £1,736) in respect of freehold land and buildings.
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Debtors |
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2024 |
2023 |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
2023 |
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No. |
£ |
No. |
£ |
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2,400 |
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2,400 |