Harrow Fields Gardens Estate Company Limited. Directors' report and unaudited financial statements. for the year ended 31 May 2015

Transcription

1 Registration number Harrow Fields Gardens Estate Company Limited Directors' report and unaudited financial statements

2 Company information Directors P. Brand (resigned 7 July 2014) S. Tubby M. Van Rosse J. Lynch (appointed 9 November 2014) S. Shah (appointed 9 November 2014) A. Green (appointed 9 November 2014) Secretary S. Tubby Company number Registered office 3rd Floor The Heights Lowlands Road Harrow Middlesex HA1 3AW Accountants Leftley Rowe and Company The Heights Lowlands Road Harrow Middlesex HA1 3AW Bankers The Royal Bank of Scotland Plc Harrow Branch 354 Station Road Harrow Middlesex

3 Contents Directors' report 1 Page Chartered Accountants' report 2 Profit and loss account 3 Balance sheet 4-5 Notes to the financial statements 6-7 The following page does not form part of the statutory financial statements Detailed trading, profit and loss account 9

4 Directors' report The directors present their report and the accounts. Principal activity The principal activity of the company continued to be that of regulating, controlling the use of, and maintaining the land and property of Harrow Fields Gardens Estate. Results The loss for the year, after taxation, amounted to 9,888. Directors The directors who served during the year are as stated below: P. Brand (resigned 7 July 2014) J. Lynch (appointed 9 November 2014) S. Tubby S. Shah (appointed 9 November 2014) M. Van Rosse A. Green (appointed 9 November 2014) This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act This report was approved by the Board on 29 October 2015 and signed on its behalf by S. Tubby Secretary Page 1

5 Chartered Accountants' report to the Board of Directors on the unaudited financial statements of Harrow Fields Gardens Estate Company Limited In accordance with the terms of our engagement, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company which comprise the profit and loss account, the balance sheet and the related notes from the accounting records and information and explanations you have given to us. This report is made to the company's Board of Directors in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's Board of Directors that we have done so and state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's Board of Directors, as a body, for our work or for this report. We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in England and Wales and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements. You have acknowledged on the balance sheet your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act You consider that the company is exempt from the statutory requirement for an audit for the year. We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements. Leftley Rowe and Company The Heights Chartered Accountants and Lowlands Road Statutory Auditors Harrow 30 October 2015 Middlesex HA1 3AW Page 2

6 Profit and loss account Continuing operations Notes Turnover 2 17,680 16,470 Administrative expenses (27,594) (16,381) Operating (loss)/profit (9,914) 89 Other interest receivable and similar income (Loss)/profit on ordinary activities before taxation (9,888) 111 Tax on (loss)/profit on ordinary activities - - (Loss)/profit for the year 6 (9,888) 111 There are no recognised gains or losses other than the profit or loss for the above two financial years. The notes on pages 6 to 7 form an integral part of these financial statements. Page 3

7 Balance sheet as at 31 May Notes Current assets Debtors 3 9,236 3,464 Cash at bank and in hand 38,050 54,167 47,286 57,631 Creditors: amounts falling due within one year 4 (3,657) (4,114) Net current assets 43,629 53,517 Total assets less current liabilities 43,629 53,517 Net assets 43,629 53,517 Capital and reserves Called up share capital Profit and loss account 6 43,425 53,313 Shareholders' funds 7 43,629 53,517 The directors' statements required by Sections 475(2) and (3) are shown on the following page which forms part of this balance sheet. The notes on pages 6 to 7 form an integral part of these financial statements. Page 4

8 Balance sheet (continued) Directors' statements required by Sections 475(2) and (3) For the year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors' responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and 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. These accounts were approved by the directors on 29 October 2015, and are signed on their behalf by: S. Tubby A. Green Director Director Registration number The notes on pages 6 to 7 form an integral part of these financial statements. Page 5

9 Notes to the financial statements 1. Accounting policies 1.1. Accounting convention The accounts are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board. The company has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small company Maintenance fees Maintenance fees represents the subscriptions received from members during the year. 2. Maintenance fees The total maintenance fees of the company for the year has been derived from its principal activity wholly undertaken in the UK. 3. Debtors Trade debtors - 2,100 Other debtors 9,236 - Prepayments and accrued income - 1,364 9,236 3, Creditors: amounts falling due within one year Trade creditors - 2,080 Accruals and deferred income 3,657 2,034 3,657 4, Share capital Allotted, called up and fully paid 204 ordinary shares of 1 each Page 6

10 Notes to the financial statements... continued Profit 6. Equity Reserves and loss account Total At 1 June ,313 53,313 Loss for the year (9,888) (9,888) At 31 May ,425 43, Reconciliation of movements in shareholders' funds (Loss)/profit for the year (9,888) 111 Opening shareholders' funds 53,517 53,406 Closing shareholders' funds 43,629 53, Controlling interest In the opinion of the directors, the company has no ultimate controlling party. Page 7

11 The following page does not form part of the statutory financial statements. Page 8

12 Detailed trading, profit and loss account Maintenance fees 17,680 16,470 Administrative expenses Estate management expenses 1,620 - Garden maintenance 18,246 11,985 Insurance 1,364 1,316 Light, heat and power Repairs and renewals 2, Legal and professional fees Accountancy 1,549 1,487 Bank charges General expenses (27,594) (16,381) Operating (loss)/profit (9,914) 89 Other income and expenses Interest receivable Bank deposit interest Net (loss)/profit for the year (9,888) 111 Page 9