| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED (REGISTERED NUMBER: 07891252) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 19-21 Middle Row |
| Stevenage |
| Hertfordshire |
| SG1 3AW |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED (REGISTERED NUMBER: 07891252) |
| BALANCE SHEET |
| 31 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| RESERVES |
| Road maintenance reserve | 6 |
| Income and expenditure account | 6 | ( |
) |
| 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 surplus or deficit 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. |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED (REGISTERED NUMBER: 07891252) |
| BALANCE SHEET - continued |
| 31 DECEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED (REGISTERED NUMBER: 07891252) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Residents Association of Welwyn Heath Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The directors have not identified any material uncertainties or risks related to events or conditions that could cast significant doubt about the company's ability to continue as a going concern and therefore the financial statements for the year ended 31st December 2024 have been prepared using the going concern basis of accounting. |
| Significant judgements and estimates |
| In the application of the company's accounting policies, management might be required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from those estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Financial instruments |
| The directors consider all financial instruments to be basic financial instruments in accordance with paragraph 11 of FRS102. All basic financial instruments including trade and other debtors, cash and cash equivalents, and trade and other creditors, are initially recognised at transaction price and thereafter stated at amortised cost. |
| Trade and other receivables and payables |
| Trade and other receivables and payables are measured at amortised cost which approximates to fair value given the short term nature of these assets and liabilities. |
| Trade receivables are valued at original invoice amount less an allowance for potentially un-collectable debts. Provision is made where there is objective evidence to suggest that the company will not be in a position to collect receivables as they fall due. Bad and Doubtful debts are written off in the profit and loss account on identification. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash balances held for the purposes of meeting short-term cash commitments. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| RESIDENTS ASSOCIATION OF WELWYN HEATH |
| LIMITED (REGISTERED NUMBER: 07891252) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Tax |
| Accrued expenses |
| 6. | RESERVES |
| Income |
| and | Road |
| expenditure | maintenance |
| account | reserve | Totals |
| £ | £ | £ |
| At 1 January 2024 | ( |
) | 22,389 |
| Deficit for the year | ( |
) | - | ( |
) |
| Transfer to/from road |
| maintenance reserve | 18,482 | (18,482 | ) | - |
| At 31 December 2024 | 4,411 |
| 7. | RELATED PARTY DISCLOSURES |
| The Directors are subscriber members of the Company. The only transactions involving the Directors are those in connection with their membership subscriptions. |
| Ultimate control of the Company is considered to be in the hands of the subscriber members. |
| 8. | LIMITED BY GUARANTEE |
| The company is limited by guarantee without a share capital. In the event of the company being wound up, each member, whilst a member or for a period of one year after ceasing to be a member, is liable to contribute for payment of the debts and liabilities of the company such amounts as may be required, but not exceeding £1. |