|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
|
|
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED (REGISTERED NUMBER: 00949678) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED (REGISTERED NUMBER: 00949678) |
|
BALANCE SHEET |
28 FEBRUARY 2017 |
|
2017 | 2016 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
RESERVES |
Income and expenditure account |
|
|
|
|
|
|
|
|
|
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 surplus or deficit 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. |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors on
|
|
|
|
|
|
|
|
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED (REGISTERED NUMBER: 00949678) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
1. | STATUTORY INFORMATION |
|
Vermont Close Residents' Association Limited is a
|
and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standards |
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 far 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 £1. |
|
The financial statements have been prepared under the historical cost convention, modified to include certain |
financial instruments at fair value. The principal accounting policies adopted are set out below. |
|
These financial statements are the first financial statements Vermont Close Residents' Assoc Limited have |
prepared In accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in |
the UK and Republic of Ireland' (FRS 102), as applied to smaller entities by the adoption of Section 1A of FRS |
102. The financial statements of Vermont Close Residents' Assoc Limited for the year ended 29 February 2016 |
were prepared in accordance with previous UK GAAP. |
|
Some of the FRS 102 recognition, measurement, presentation and disclosure requirements and accounting policy |
choices differ from previous UK GAAP. Consequently, the directors have amended certain accounting policies |
to comply with FRS 102. |
|
There have been no transitional adjustments. |
VERMONT CLOSE RESIDENTS' ASSOCIATION |
LIMITED (REGISTERED NUMBER: 00949678) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Profit and loss account |
The company has no income or expenditure in its own right. All transactions in the year relate to maintenance of |
the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown |
in separate service charge accounts for the property that do not form part of annual accounts of the company and |
are not filed at Companies House. All service charge monies received from the residents of the property are held |
on trust for the residents. |
|
Financial Assets |
The Company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 |
'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
|
Financial assets are recognised in the company's statement of financial position when the company becomes |
party to the contractual provisions of the instrument. |
|
Basic financial assets, which include trade and other receivables and cash and bank balances are initially |
measured at transaction price including transaction costs and are subsequently carried at amortised cost using the |
effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is |
measured at the present value of the future receipts discounted at a market rate of interest. |
|
Financial Liabilities |
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and |
subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the |
debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. |
|
Equity Instruments |
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct |
issue costs. Dividend's payable on equity instruments are recognised as liabilities once they are no longer at the |
discretion of the company |
|
3. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1 March 2016 |
and 28 February 2017 |
|
DEPRECIATION |
At 1 March 2016 |
and 28 February 2017 |
|
NET BOOK VALUE |
At 28 February 2017 |
|
At 29 February 2016 |
|
|
4. | COMPANY LIMITED BY GUARANTEE |
|
The company is limited by guarantee and does not have any share capital. Each member of the company |
undertakes to contribute an amount not exceeding £1 to the assets of the company in the event of the company |
being wound up. |