COMPANY REGISTRATION NUMBER:
01885162
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PARK COURT RESIDENTS ASSOCIATION (MORECAMBE) LIMITED |
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Company Limited by Guarantee |
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FILLETED UNAUDITED FINANCIAL STATEMENTS |
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PARK COURT RESIDENTS ASSOCIATION (MORECAMBE) LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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STATEMENT OF FINANCIAL POSITION |
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31 March 2026
FIXED ASSETS
CURRENT ASSETS
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Debtors |
6 |
646 |
|
790 |
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Cash at bank and in hand |
1,263 |
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980 |
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-------- |
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-------- |
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1,909 |
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1,770 |
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CREDITORS: amounts falling due within one year |
7 |
297 |
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279 |
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-------- |
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-------- |
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NET CURRENT ASSETS |
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1,612 |
1,491 |
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-------- |
-------- |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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1,613 |
1,492 |
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-------- |
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NET ASSETS |
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1,613 |
1,492 |
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-------- |
-------- |
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CAPITAL AND RESERVES
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Profit and loss account |
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1,613 |
1,492 |
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-------- |
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MEMBERS FUNDS |
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1,613 |
1,492 |
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-------- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2026 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
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PARK COURT RESIDENTS ASSOCIATION (MORECAMBE) LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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STATEMENT OF FINANCIAL POSITION (continued) |
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31 March 2026
These financial statements were approved by the
board of directors
and authorised for issue on
1 May 2026
, and are signed on behalf of the board by:
Company registration number:
01885162
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PARK COURT RESIDENTS ASSOCIATION (MORECAMBE) LIMITED |
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COMPANY LIMITED BY GUARANTEE |
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NOTES TO THE FINANCIAL STATEMENTS |
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YEAR ENDED 31 MARCH 2026
1.
GENERAL INFORMATION
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 14 Hill Crest, Atherton, Greater Manchester, M46 9GY.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
COMPANY LIMITED BY GUARANTEE
The company is limited by guarantee and does not have a share capital. The extent of each members liability is limited to £1.
5.
TANGIBLE ASSETS
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Cost |
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At 1 April 2025 and 31 March 2026 |
1 |
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----- |
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Depreciation |
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At 1 April 2025 and 31 March 2026 |
– |
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----- |
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Carrying amount |
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At 31 March 2026 |
1 |
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----- |
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At 31 March 2025 |
1 |
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----- |
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The Freehold Reversion relating to the land is subject to leases of 999 years on the flats contained in Park Court.
6.
DEBTORS
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Prepayments and accrued income |
646 |
790 |
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----- |
----- |
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7.
CREDITORS:
amounts falling due within one year
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Accruals and deferred income |
296 |
278 |
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Director loan accounts |
1 |
1 |
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297 |
279 |
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8.
DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
The Directors Loan account had a minimal £1 credit balance throughout the year.
9.
RELATED PARTY TRANSACTIONS
The directors comprise the tenants of Park Court and each pays one third of the contributions received. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standards.