Willow Bay Residents Association Limited - Accounts to registrar - small 17.1.1

Willow Bay Residents Association Limited - Accounts to registrar - small 17.1.1

WILLOW BAY RESIDENTS ASSOCIATION LIMITED - Company Information

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REGISTERED NUMBER: 04334251 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 December 2016

for

Willow Bay Residents Association Limited

Willow Bay Residents Association Limited (Registered number: 04334251)






Contents of the Financial Statements
for the year ended 31 December 2016




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Willow Bay Residents Association Limited

Company Information
for the year ended 31 December 2016







DIRECTOR: J Ingram





REGISTERED OFFICE: Stanley House
49 Dartford Road
Sevenoaks
Kent
TN13 3TE





REGISTERED NUMBER: 04334251 (England and Wales)





ACCOUNTANTS: ah partnership
Chartered Accountants
Stanley House
49 Dartford Road
Sevenoaks
Kent
TN13 3TE
1
Willow Bay Residents Association Limited (Registered number: 04334251)

Statement of Financial Position
31 December 2016

2016 2015
Notes £    £   
CURRENT ASSETS
Debtors 3 3,777 4,650
Cash at bank 11,903 12,534
15,680 17,184
CREDITORS
Amounts falling due within one year 4 959 1,473
NET CURRENT ASSETS 14,721 15,711
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,721
15,711

RESERVES
Other reserves 800 800
Income and expenditure account 13,921 14,911
14,721 15,711

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 17 May 2017 and were signed by:




J Ingram - Director


The notes form part of these financial statements

2
Willow Bay Residents Association Limited (Registered number: 04334251)

Notes to the Financial Statements
for the year ended 31 December 2016

1. STATUTORY INFORMATION

Willow Bay Residents Association Limited is a private company, limited by guarantee , registered in England and
Wales. The company's registered number and registered office address can be found on the Company
Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents service charges collected from the residents.

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.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted
or substantively enacted by the statement of financial position date.

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.

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.

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.

Trust funds
Up until 31 December 2011 service demands were collected and expended on common areas of the property via
a trust. From 1 January 2012 both the service charge income and related expenditure was collected and
expended via this limited company.

3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 3,730 4,078
Other debtors 47 572
3,777 4,650

3 continued...
Willow Bay Residents Association Limited (Registered number: 04334251)

Notes to the Financial Statements - continued
for the year ended 31 December 2016

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other creditors 959 1,473

5. ULTIMATE CONTROLLING PARTY

The controlling party is J Ingram.

The ultimate controlling party is J Ingram.

6. TRANSITION TO FRS 102 SECTION 1A

This is the first period that the company has presented it results under FRS 102 S.1A. The last financial
statements under UK GAAP were for the year ended 31 December 2015. The date of transition to FRS 102 S. 1A
was 1 January 2016. There has been no effect as a result of the transition to FRS 102 S. 1A on: (i) Equity at the
date of transition to FRS 102. (ii) Equity at the end of the comparative period. (iii) Profit or loss for the
comparative period reported under previous UK GAAP

4