Abbreviated Company Accounts - HOPE BARTON OWNERS ASSOCIATION LIMITED

HOPE BARTON OWNERS ASSOCIATION LIMITED - Company Information

Registered Number 02441098

HOPE BARTON OWNERS ASSOCIATION LIMITED

Abbreviated Accounts

31 December 2015

HOPE BARTON OWNERS ASSOCIATION LIMITED Registered Number 02441098

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	3	491,866	431,429
		491,866	431,429
Current assets
Stocks		25,866	24,591
Debtors		80,166	107,837
Cash at bank and in hand		107,247	268,927
		213,279	401,355
Creditors: amounts falling due within one year		(173,686)	(250,405)
Net current assets (liabilities)		39,593	150,950
Total assets less current liabilities		531,459	582,379
Creditors: amounts falling due after more than one year		(289,537)	(321,469)
Total net assets (liabilities)		241,922	260,910
Reserves
Revaluation reserve		230,400	235,200
Income and expenditure account		11,522	25,710
Members' funds		241,922	260,910

For the year ending 31 December 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 24 April 2016

And signed on their behalf by:
Mrs R A Aust, Director
Mt T Bowyer, Director

HOPE BARTON OWNERS ASSOCIATION LIMITED Registered Number 02441098

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). Going concern principles have been applied as the company is financed largely by service charges to members and so is likely to remain solvent.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:

Plant and machinery 5% - 33.3% straight line
Freehold Property 2% - 10% straight line

Other accounting policies
Stocks
Stock is valued at the lower of cost and net realisable value.

Replacement and Refurbishment Fund
A proportion of service charges received by the company from its members is set aside into a Replacement and Refurbishment Fund. The purpose of the fund is to meet the anticipated costs of replacing and refurbishing guest accommodation and facilities.

2Company limited by guarantee
The Company is limited by guarantee and consequently does not have share capital.

3Tangible fixed assets

	£
Cost
At 1 January 2015	533,847
Additions	87,350
Disposals	0
Revaluations	0
Transfers	0
At 31 December 2015	621,197
Depreciation
At 1 January 2015	102,418
Charge for the year	26,913
On disposals	0
At 31 December 2015	129,331
Net book values
At 31 December 2015	491,866
At 31 December 2014	431,429