Company registration number 09319035 (England and Wales)
WOOLTON RISE MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WOOLTON RISE MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
WOOLTON RISE MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
400
400
Cash at bank and in hand
14,254
16,081
14,654
16,481
Creditors: amounts falling due within one year
4
(540)
(510)
Net current assets
14,114
15,971
Reserves
Income and expenditure account
14,114
15,971
Total members' funds
14,114
15,971
For the financial year ended 30 November 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 15 July 2025 and are signed on its behalf by:
Mrs S Judge
Director
Company registration number 09319035 (England and Wales)
WOOLTON RISE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
1
Accounting policies
Company information
Woolton Rise Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 41 St Thomas's Road, Chorley, Lancashire, PR7 1JE.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Income and Expenditure
Income and expenses are included in the financial statements as they become receivable or due.
Expenses include VAT where applicable as the company cannot reclaim it.
1.3
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.5
Revenue represents maintenance charges receivable in respect of communal expenditure in the ordinary course of business. Value Added Tax is not charged thereon.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was: 12
2024
2023
Number
Number
Total
12
12
WOOLTON RISE MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
400
400
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
540
510
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.