REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2020 |
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FOR |
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CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00768352) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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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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CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2020 |
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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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ACCOUNTANTS: |
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Chartered Accountants |
Turnbull House |
226 Mulgrave Road |
Cheam |
Sutton |
Surrey |
SM2 6JT |
CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00768352) |
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BALANCE SHEET |
31 MARCH 2020 |
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2020 | 2019 |
Notes | £ | £ |
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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Maintenance reserve | 7 |
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SHAREHOLDERS' FUNDS |
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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 profit or loss 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. |
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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 and authorised for issue on
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CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00768352) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2020 |
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1. | STATUTORY INFORMATION |
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Crown Court (Surbiton) Residents Association Limited is a
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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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Going concern |
The financial statements are prepared on the going concern basis, which assumes the ability of the company to continue its activities for the foreseeable future, being a period of not less than twelve months from the approval of these accounts. |
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Coronavirus (COVID-19) |
There is considerable uncertainty as to the size, nature and duration of the impact that will result from the global Coronavirus pandemic and the national response thereto. The directors have considered the information available and have reasonable expectation that there will be minimal impact on the company's operational activities. |
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The directors have considered all the information available to them and are satisfied that the going concern basis continues to be appropriate for the preparation of the annual financial statements. |
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Revenue recognition |
Revenue is measured at the fair value of the consideration received or receivable and represents the maintenance charges receivable in respect of communal expenditure in the ordinary course of business, net of any credits or discounts. |
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Revenue is recognised in the accounting period in which the services were 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 corporation tax arises on the ordinary activities of the company as it is a non profit making organisation. |
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Maintenance reserve |
The maintenance reserve comprises sums set aside to carry forward as a provision against future maintenance costs. Such provision is considered prudent to enable the company to manage the property. |
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Profit and loss account |
It is considered that the activities of the company do not give rise to a profit or loss due to its nature of mutual trading. Any excess service charges levied over the current expenditure will be retained in the maintenance reserve. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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CROWN COURT (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 00768352) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2020 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade creditors |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
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Ordinary | £10 | 210 | 210 |
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7. | RESERVES |
Maintenance |
reserve |
£ |
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At 1 April 2019 |
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Deficit for the year | ( |
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At 31 March 2020 |
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Any surplus or deficit resulting from the current year's income and expenditure account is retained in the company's maintenance 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 lease holders of the property. |