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COMPANY REGISTRATION NUMBER
00946093
GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 September 2016
GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION
LIMITED
COMPANY LIMITED BY GUARANTEE
DIRECTORS' REPORT
YEAR ENDED 30 SEPTEMBER 2016
The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2016.
Principal Activities
The principal activity of the company continued to be that of the management and maintaining of 15 leasehold properties comprising 1 - 15 Graylands Court, Guildford, Surrey, GU1 2DB; including any common areas, roads, accessways, footpaths, parking areas, drains, sewers, lighting, security and associated facilities. The company has no income in its own right, all transactions for the year being related to the maintenance of the common parts in accordance with the lease or covenants. Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987; accordingly separate service charge accounts are prepared.
Directors
The directors who served the company during the year were as follows:
Mr I M Bishop
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Mr M J O'Leary
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Mr J P Thomson
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Small Company Provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
Registered office:
Signed by order of the directors
Suite 1A, Victoria House
South Street
FARNHAM
Surrey
GU9 7QU
Edgefield Estates Management (Farnham) Limited
Company Secretary
Approved by the directors on
22 June 2017
GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION
LIMITED
COMPANY LIMITED BY GUARANTEE
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF
DIRECTORS ON THE PREPARATION OF THE UNAUDITED
STATUTORY ACCOUNTS OF GRAYLANDS COURT (GUILDFORD)
RESIDENTS ASSOCIATION LIMITED
YEAR ENDED 30 SEPTEMBER 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Graylands Court (Guildford) Residents Association Limited for the year ended 30 September 2016 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
Our work has been undertaken in accordance with the requirements of Institute of Chartered Accountants in England and Wales (ICAEW) as detailed at icaew.com/compilation.
L P (RMC ACCOUNTS) LIMITED
Chartered Accountants
Hampshire House
204 Holly Road
ALDERSHOT
Hampshire
GU12 4SE
22 June 2017
GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION
LIMITED
COMPANY LIMITED BY GUARANTEE
INCOME AND EXPENDITURE ACCOUNT
YEAR ENDED 30 SEPTEMBER 2016
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2016
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2015
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Note
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£
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£
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Service Charges
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18,099
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14,752
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Direct Property Expenditure
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14,430
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12,090
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Gross Surplus
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3,669
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2,662
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Administrative expenses
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3,673
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2,664
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-------
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Operating Deficit
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(
4)
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(
2)
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Interest receivable
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5
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3
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----
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----
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Surplus on Ordinary Activities Before Taxation
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1
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1
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Tax on surplus on ordinary activities
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1
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1
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Surplus for the Financial Year
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–
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–
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----
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----
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GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION
LIMITED
COMPANY LIMITED BY GUARANTEE
BALANCE SHEET
30 September 2016
Fixed Assets
Tangible assets
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2
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1,967
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1,967
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Total Assets Less Current Liabilities
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1,967
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1,967
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-------
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Reserves
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4
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Capital reserve
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1,967
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1,967
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Members' Funds
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1,967
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1,967
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For the year ended 30 September 2016 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 accounts for the year in question in accordance with section 476; and
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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 accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime
and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
These accounts were approved by the directors and authorised for issue on
22 June 2017
, and are signed on their behalf by:
Mr M J O'Leary
Company Registration Number:
00946093
GRAYLANDS COURT (GUILDFORD) RESIDENTS ASSOCIATION
LIMITED
COMPANY LIMITED BY GUARANTEE
NOTES TO THE
FINANCIAL STATEMENTS
YEAR ENDED 30 SEPTEMBER 2016
1.
Accounting Policies
(a)
Basis of Accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
(b)
Cash Flow Statement
In the opinion of the directors the company qualifies as a small company and accordingly a cash flow statement is not required.
(c)
Service Charges
Service charges receivable represents the amounts charged to the residential owners, as adjusted by transfers to or from deferred income.
(d)
Fixed Assets
All fixed assets are initially recorded at cost.
2.
Tangible Assets
Cost
At 1 October 2015 and 30 September 2016
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1,967
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Depreciation
At 1 October 2015 and 30 September 2016
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–
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Net Book Value
At 30 September 2016
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1,967
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At 30 September 2015
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1,967
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3.
Related Party Transactions
None of the shareholders have overall control of the company The
shareholders are residential owners in the managed property.
As part of the management of that property, service charges are collected from the residential owners to meet the costs of managing and maintaining the property.
Service Charges are held in trust for the benefit of the residential owners; accordingly separate service charge accounts are prepared.
4.
Company Limited by Guarantee
The company is limited by guarantee. Each member of the company undertakes to contribute a sum, not exceeding £50, in the event of the company not being able to meet its liabilities on being wound up, within one year after the member ceasing to be a member.