Registration number:
for the Year Ended
West Kingston Residents Association Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
West Kingston Residents Association Limited
Company Information
Directors |
Mrs L Burgess Mrs J L Smithers Mr A D Ball Mr J A Hickson Mr A N Baritt Mr N C Mustoe |
Company secretary |
Mrs T Down |
Registered office |
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Solicitors |
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Accountants |
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West Kingston Residents Association Limited
(Registration number: 00950590)
Balance Sheet as at 31 March 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Other financial assets |
6,209 |
5,165 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Other reserves |
67,750 |
67,750 |
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Profit and loss account |
31,762 |
2,680 |
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Shareholders' funds |
99,512 |
70,430 |
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income and expenditure account has been taken.
Approved and authorised by the
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West Kingston Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
General information |
The company is a company limited by guarantee, incorporated in England, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is:
England
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are presented in Sterling, which is also the company's functional currency. The financial statements are rounded to the nearest £1.
Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.
Income represents the value of contributions and estate charges receivable by the company together with additional fees for planning and development consent.
West Kingston Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
2 |
Accounting policies (continued) |
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Estate road |
Not depreciated |
Gates, notices and fencing |
straight line - 10% |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
West Kingston Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Tangible assets |
Gates, notices and fencing |
Estate roads |
Total |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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- |
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Charge for the year |
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- |
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At 31 March 2022 |
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- |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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West Kingston Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
Other financial assets (current and non-current) |
Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2021 |
5,164 |
5,164 |
Additions |
1,045 |
1,045 |
At 31 March 2022 |
6,209 |
6,209 |
Impairment |
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Carrying amount |
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At 31 March 2022 |
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6,209 |
Debtors |
Current |
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Trade debtors |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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West Kingston Residents Association Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022
7 |
Creditors (continued) |
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £Nil
(2021 - £