Company registration number 02039752 (England and Wales)
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
COMPANY INFORMATION
Director
M T E Phillips
Secretary
K Haines
Company number
02039752
Registered office
48a Bunyan Road
Kempston
Bedfordshire
MK42 8HL
Accountants
Virgo Associates Limited
52 Bunyan Road
Kempston
Bedford
Bedfordshire
MK42 8HL
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -
The director presents her annual report and financial statements for the year ended 31 March 2023.
Principal activities
The principal activity of the company continued to be that of management and maintenance of the property known as Portia House.
The company has no income or expenditure in it's own right, all transactions in the year being related to the maintenance of the common parts in accordance with the lease. Service charges are held in 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.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
M T E Phillips
Income and Expenditure Account
The company has no income or expenditure in its own right, all transactions in the year being related to the maintenance of the common parts in accordance with the lease. Income and expenditure arising from the lease transactions is shown in separate service charge accounts for the property that do not form part of the annual financial statements of the company and are not filed at Companies House. All service charge monies received from the leaseholders of Portia House are held in trust for the leaseholders.
On behalf of the board
M T E Phillips
Director
28 December 2023
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 2 -
2023
2022
Notes
£
£
£
£
Current assets
Debtors
3
2,442
4,032
Cash at bank and in hand
7,053
4,631
9,495
8,663
Creditors: amounts falling due within one year
4
(2,304)
(1,603)
Net current assets
7,191
7,060
Capital and reserves
Called up share capital
5
12
12
Reserves
7,049
5,543
Surplus for the year
130
1,505
Total equity
7,191
7,060
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 28 December 2023
M T E Phillips
Director
Company Registration No. 02039752
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information
29 Shakespeare Road Residents Association Limited is a private company limited by shares incorporated in England and Wales. The registered office is 48a Bunyan Road, Kempston, Bedfordshire, MK42 8HL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
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 £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
29 SHAKESPEARE ROAD RESIDENTS ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
2
Employees
2023
2022
Number
Number
Total
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
2,430
4,020
Unpaid share capital
12
12
2,442
4,032
4
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,404
1,153
Accruals and deferred income
900
450
2,304
1,603
5
Share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary of £1 each
12
12
12
12