REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 01178333) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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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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HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2022 |
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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 |
HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 01178333) |
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BALANCE SHEET |
31 MARCH 2022 |
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2022 | 2021 |
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 LIABILITIES | ( |
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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 fund | 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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HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 01178333) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Hobart House (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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The company remains technically insolvent due to deficits made in the current and previous years. The board of directors confirm that this matter is being addressed to the lessees by recharging the deficit over the next few years in order to return the company to solvency. |
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The directors, having considered all the information available to them, 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 service charges receivable during the year for the administration and maintenance of the property. |
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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 for corporation tax arises on the ordinary activities of the company as it is a non-profit making organisation. |
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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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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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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 |
2022 | 2021 |
£ | £ |
Charges in arrears |
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Prepayments |
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Ground rents prepaid |
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HOBART HOUSE (SURBITON) RESIDENTS |
ASSOCIATION LIMITED (REGISTERED NUMBER: 01178333) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Deferred income |
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Other creditors and accruals |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary shares | £10 | 120 | 120 |
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7. | RESERVES |
General |
reserve |
fund |
£ |
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At 1 April 2021 | ( |
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Profit for the year |
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At 31 March 2022 | ( |
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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 lease holders of the property. |
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8. | GOING CONCERN |
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The company's board of directors confirm that the current insolvent position is being addressed to the lessees by recharging the deficit over the next few years. |