REGISTERED NUMBER: |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
REGISTERED NUMBER: |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED (REGISTERED NUMBER: 05128635) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 | to | 4 |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30TH APRIL 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
20 Eversley Road |
Bexhill-on-Sea |
East Sussex |
TN40 1HE |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED (REGISTERED NUMBER: 05128635) |
BALANCE SHEET |
30TH APRIL 2023 |
2023 | 2022 |
£ | £ |
TOTAL ASSETS LESS CURRENT LIABILITIES |
RESERVES |
The director acknowledges his 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 surplus or deficit 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED (REGISTERED NUMBER: 05128635) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2023 |
1. | STATUTORY INFORMATION |
The Association of Residential Managing Agents Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
On 9 March 2022 the net assets of the company and The Institute of Residential Property Management Limited were transferred to The Property Institute . All activities are discontinued from this date. At the point of transfer, the company was confirmed by the board of directors to be a going concern. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Significant judgements and estimates |
There are no significant areas of judgement or key assumptions that affect items in the financial statements other than those included within the accounting policies described below. |
Income recognition |
Turnover is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. |
Annual subscriptions payable by members, associates, partners and RMC/RTM Directors run for a period of one year. Subscription income is recognised evenly over the membership period with any amounts received in the current financial year that related to the following financial year treated as deferred income. |
Income from conferences is recognised at the point at which the event takes place. Any amounts received in the current financial year that relate to the following financial year are treated as deferred income at the statement of financial position date. |
Income from training courses is recognised at the point at which the event takes place. Any amounts received in the current financial year that relate to the following financial year are treated as deferred income at the statement of financial position date. |
ARMA audit fees are recognised once the audit is completed and charged to the member. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery etc - at variable rates on cost |
The company has a capitalisation policy of £1,000. |
THE ASSOCIATION OF RESIDENTIAL MANAGING |
AGENTS LIMITED (REGISTERED NUMBER: 05128635) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30TH APRIL 2023 |
2. | ACCOUNTING POLICIES - continued |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The company only has financial instruments of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease. |
Cash at bank |
Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
Debtors |
Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid. In relation to trade debtors, a provision for impairment is made when there is objective evidence that the company will not be able to collect all the amounts due under the original terms of the invoice. Impaired debts are derecognised when they are assessed as uncollectible. |
Creditors |
Creditors are recognised when the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at the settlement amount. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - |
4. | LIMITED BY GUARANTEE |
The company is limited by guarantee and therefore has no share capital. Every member of the company undertakes to contribute to the assets of the company in the event of it being wound up while they are a member, or within one year afterwards, for the payment of the debts and liabilities of the company contracted before they cease to be a member, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amounts as may be not exceeding £1. |