Company Registration No. 02332732 (England and Wales)
Meadway (Esher) Residents Association Limited
Unaudited accounts
for the year ended 31 December 2017
Meadway (Esher) Residents Association Limited
Unaudited accounts
Contents
Meadway (Esher) Residents Association Limited
Company Information
for the year ended 31 December 2017
Directors
Andrew Joyce
Philip Brewster
Diane Farmer
Neil Berkett
Fiona McAnena (Chairman)
Andrew Stevenson
Judith Thomas
Company Number
02332732 (England and Wales)
Registered Office
Greville House
32 Meadway
Esher
KT10 9HF
Accountants
Kevin Goddard FCA Regal...Chartered Accountants
54 New Road
Esher
Surrey
KT10 9NU
Meadway (Esher) Residents Association Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Meadway (Esher) Residents Association Limited for the year ended 31 December 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Meadway (Esher) Residents Association Limited for the year ended
31 December 2017 as set out on pages
5 -
8 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/membershandbook.
This report is made solely to the Board of Directors of Meadway (Esher) Residents Association Limited, as a body, in accordance with the terms of our engagement letter dated 30 June 2017. Our work has been undertaken solely to prepare for your approval the accounts of Meadway (Esher) Residents Association Limited and state those matters that we have agreed to state to the Board of Directors of Meadway (Esher) Residents Association Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Meadway (Esher) Residents Association Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Meadway (Esher) Residents Association Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Meadway (Esher) Residents Association Limited. You consider that Meadway (Esher) Residents Association Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Meadway (Esher) Residents Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Kevin Goddard FCA Regal...Chartered Accountants
Chartered Accountants
54 New Road
Esher
Surrey
KT10 9NU
30 January 2018
Meadway (Esher) Residents Association Limited
Statement of financial position
as at
31 December 2017
Tangible assets
111,671
115,932
Cash at bank and in hand
159,758
174,726
Creditors: amounts falling due within one year
(46,048)
(59,243)
Net current assets
126,511
131,344
Total assets less current liabilities
238,182
247,276
Provisions for liabilities
Other provisions
(238,094)
(247,188)
Called up share capital
88
88
Shareholders' funds
88
88
For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 8 March 2018.
Andrew Joyce
Director
Company Registration No. 02332732
Meadway (Esher) Residents Association Limited
Notes to the Accounts
for the year ended 31 December 2017
Meadway (Esher) Residents Association Limited is a private company, limited by shares, registered in England and Wales, registration number 02332732. The registered office is Greville House, 32 Meadway, Esher, KT10 9HF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Sinking Fund (Provision For Liabilities)
The directors set aside available reserves in the accounts to provide for future Sinking Fund expenditure. In previous years, the Sinking Fund account had been shown under Shareholder Funds, however this has now been reclassified to Provision for Liabilities in the current year.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided on a straight line basis at the following rates in order to write off the assets over their estimated useful lives:
Barrier Improvements & CCTV .......... 10yrs
Groundworks, Kerbing & Signage .... 20yrs
Gates & Estate Fencing ........................15yrs
The increase in legal fees during the year reflects the Board's efforts to update and conform both activities and administration with current legal requirements.
Meadway (Esher) Residents Association Limited
Notes to the Accounts
for the year ended 31 December 2017
4
Tangible fixed assets
Land & buildings
Cost or valuation
At cost
At 1 January 2017
159,463
At 31 December 2017
165,261
Charge for the year
10,059
At 31 December 2017
53,590
At 31 December 2017
111,671
At 31 December 2016
115,932
Trade debtors
7,752
7,000
Amounts due from group undertakings etc.
2,084
1,580
Accrued income and prepayments
2,965
7,130
6
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
(4,359)
1,130
Other creditors
21,000
20,000
No provision is made for deferred taxation as no liability is anticipated.
Meadway (Esher) Residents Association Limited
Notes to the Accounts
for the year ended 31 December 2017
8
Provisions for liabilities
£
At 1 January 2017
247,188
At 31 December 2017
238,094
SINKING FUND
The directors normally set aside reserves in the accounts to provide for future Sinking Fund expenditure on:
Road Kerbing ................................. over 20yrs ......... £30,000 .......... £1,500 pa
Road Surfacing .............................. over 12 yrs ........ £100,000 ....... £8,335 pa
Automated Gate ........................... over15 yrs ......... £35,000 .......... £2,335 pa
Barrier & Access Controls .......... over 10 yrs ....... £25,000 .......... £2,500 pa
CCTV & Other ................................ over10 yrs ..........£20,000 .......... £2,000 pa
Estate Fencing ............................... over 15 yrs ........ £7,000 ............. £500 pa
NORMAL ANNUAL SINKING FUND REQUIREMENT ........................................ £17,000
There has been a decrease in the Sinking Fund during 2016-17 in view of the deficit for the year of (£9,094).
9
Transactions with related parties
Amounts due from Group Undertakings (Other Associations) includes:
Blackhills £787 £945 (2016)
Albany Close £1,298 £634 (2016)
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).