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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 11 JUNE 2017 |
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PARK COURT RESIDENTS ASSOCIATION LIMITED |
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REGISTERED NUMBER:
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AUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 11 JUNE 2017 |
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FOR |
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PARK COURT RESIDENTS ASSOCIATION LIMITED |
PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 11 JUNE 2017 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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PARK COURT RESIDENTS ASSOCIATION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 11 JUNE 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants |
and Statutory Auditors |
Turnbull House |
226 Mulgrave Road |
Cheam |
Sutton |
Surrey |
SM2 6JT |
PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922) |
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BALANCE SHEET |
11 JUNE 2017 |
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2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital | 6 |
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General reserve | 7 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 11 JUNE 2017 |
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1. | STATUTORY INFORMATION |
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Park Court Residents Association Limited is a
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Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue recognition |
Income represents service charges and ground rent receivable from the lessees. Income is recognised in the |
accounting period in which the services are rendered. |
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Taxation |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. No liability to tax arose in the current or previous accounting |
period. |
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General reserve |
The general reserve has been established to meet the future maintenance costs. Such provision is considered |
prudent to enable the company to manage the property. |
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Profit and loss |
It is considered that the activities of the company do not give rise to a profit and loss due to its nature of |
being a flat management company. Any excess or deficit of service charges levied over current expenditure |
will be retained in the general reserve. |
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3. | TANGIBLE FIXED ASSETS |
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The company owns the freehold of the property known as Park Court in Park Road, New Malden, Surrey KT3 |
5AE which it acquired at no cost. |
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £10 | 360 | 360 |
PARK COURT RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 00620922) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 11 JUNE 2017 |
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7. | RESERVES |
General |
reserve |
£ |
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At 12 June 2016 |
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Profit for the year |
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At 11 June 2017 |
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Any surplus or deficit resulting from the current year's income and expenditure account is retained in the |
company's general reserve fund. The present level of the fund may prove insufficient, given the uncertainty as |
to whether and when substantial costs may arise on the property. Any insufficient funds arising will be |
recharged to the lessees of the property. |
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8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | FIRST YEAR ADOPTION |
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This is the first year that the company has presented its results under FRS 102 Section 1A. The last financial |
statements under UK GAAP were for the period ended 11 June 2016. The date of transition to FRS 102 was 12 |
June 2015. There have been no significant changes in accounting policies as the result of transition to FRS102 |
and the comparative figures are unchanged. |