St Mary's Square Residents Association - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02296746 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

ST MARY'S SQUARE (KEMP TOWN) RESIDENTS

ASSOCIATION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

5

DIRECTORS:

A H Walker

B Wood

REGISTERED OFFICE:

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

BUSINESS ADDRESS:

c/o Graves, Son and Pilcher

51 Old Steyne

Brighton

East Sussex

BN1 1HU

REGISTERED NUMBER:

02296746 (England and Wales)

ACCOUNTANTS:

Hartley Fowler LLP

Chartered Accountants

Pavilion View

19 New Road

Brighton

East Sussex

BN1 1EY

FIXED ASSETS

Tangible assets

4

1

1

CURRENT ASSETS

Debtors

5

1,007

695

Cash at bank

6

14,625

10,156

15,632

10,851

CREDITORS

Amounts falling due within one year

7

9,140

5,772

NET CURRENT ASSETS

6,492

5,079

TOTAL ASSETS LESS CURRENT LIABILITIES

6,493

5,080

CAPITAL AND RESERVES

Called up share capital

8

34

34

Retained earnings

6,459

5,046

SHAREHOLDERS' FUNDS

6,493

5,080

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 22 August 2018 and were signed on its behalf by:

A H Walker - Director

1.	STATUTORY INFORMATION

St Mary's Square (Kemp Town) Residents Association Limited is a private company, limited by shares ,

registered in England and Wales. The company's registered number and registered office address can be found

on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company exists to manage the property at St Mary's Square, Kemp Town, Brighton. The company renders

service charge demands to the owners of the freehold properties and incurs expenditure in maintaining the

common ways and parts of the building.

Turnover

Revenue is measured at fair value of the consideration received or receivable from the freehold properties

owned by the members of the company

Revenue from maintenance subscriptions is recognised when maintenance charges are demanded.

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 have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet 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.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each

balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash

generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its

recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued

amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - 2 ).

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 April 2017

and 31 March 2018

1

NET BOOK VALUE

At 31 March 2018

1

At 31 March 2017

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

1,007

695

6.	CASH AT BANK

2018

2017

£

£

GS&P Client account

14,625

10,156

Cash at bank is represented by a Graves Son & Pilcher Client Account re St Mary's Square. This is a Barclays

client money trust, interest-bearing account held at Barclays Corporate Banking, 90-92 High Street, Crawley,

RH10 1BP.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Maintenance contributions received in advance

7,980

4,655

Other creditors

1,160

1,117

9,140

5,772

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

34

Ordinary shares

£1

34

34