REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2021 |
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THE LIMES RESIDENTS ASSOCIATION LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 DECEMBER 2021 |
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FOR |
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THE LIMES RESIDENTS ASSOCIATION LIMITED |
THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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Report of the Accountants | 7 |
THE LIMES RESIDENTS ASSOCIATION LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 December 2021 |
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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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Georgian House |
34 Thoroughfare |
Halesworth |
Suffolk |
IP19 8AP |
THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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STATEMENT OF FINANCIAL POSITION |
31 December 2021 |
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31.12.21 | 31.12.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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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. |
THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 December 2021 |
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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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THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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The Limes Residents Association Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents ground rent & service charges to residents of The Limes Residents Association Limited during the course of the year. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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 statement of financial position date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Depreciation |
Depreciation is calculated to write down the cost, less estimated residual value, of all tangible fixed assets over their expected useful lives. The annual depreciation rates and methods are as follows: Equipment 25% reducing balance. |
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THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Freehold land and leasehold flat |
The Company has title to the freehold land situated at The Limes, London Road, Halesworth. The directors have estimated its fair value at 1st January 2015 at £1,000. |
It also owns a leasehold flat occupied by the warden, and a small office. The fair value of the leasehold property at 1st January 2015 was estimated by the directors at £119,000, this is being depreciated over the remaining term of the lease. |
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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. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
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COST |
At 1 January 2021 |
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Additions |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.21 | 31.12.20 |
£ | £ |
Trade creditors |
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Accruals and deferred income |
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THE LIMES RESIDENTS ASSOCIATION LIMITED (REGISTERED NUMBER: 02682550) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 December 2021 |
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7. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Each of the directors Ms S Gerrard, Mrs V Jennings and Mrs S Vogt have an interest in one ordinary share of £1 in the capital of the company. |
During the year Ms S Gerrard, Mrs V Jennings and Mrs S Vogt each contributed £2,450 towards service charges and ground rents levied by the company. |
THE LIMES RESIDENTS ASSOCIATION LIMITED |
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REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
THE LIMES RESIDENTS ASSOCIATION LIMITED |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
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As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 31 December 2021 set out on pages three to nine and you consider that the company is exempt from an audit. |
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In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
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Georgian House |
34 Thoroughfare |
Halesworth |
Suffolk |
IP19 8AP |
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