Company Registration No. 05459517 (England and Wales)
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
20,744
20,743
Cash at bank and in hand
4,531
4,260
25,275
25,003
Creditors: amounts falling due within one year
4
(27,976)
(28,366)
Net current liabilities
(2,701)
(3,363)
Capital and reserves
Profit and loss reserves
(2,701)
(3,363)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 17 August 2022 and are signed on its behalf by:
S P Wiggett
Director
Company Registration No. 05459517
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2022
- 2 -
1
Accounting policies
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
On 11 March 2020, Covid-19 was designated a pandemic by the World Health Organisation (WHO). The directors continue to review the impact on the business, ensuring provisions are put in place to mitigate any risk to the company’s ability to trade as a going concern. At the date of signing the financial statements, in the opinion of the directors, Covid-19 will not impact on the company’s ability to trade as a going concern. Consequently, the company continues to adopt the going concern basis in preparing the financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Company information
Royal George Mill Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Viking House, 449 Middleton Road, Chadderton, Oldham, Lancashire, OL9 9LB.
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
2
2
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
20,744
20,743
4
Creditors: amounts falling due within one year
2022
2021
£
£
Other creditors
27,976
28,366
5
Members' liability
The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.
6
Financial commitments, guarantees and contingent liabilities
The directors are not aware of any contingent liabilities.
7
Events after the reporting date
There have been no significant post balance sheet events.
8
Related party transactions
ROYAL GEORGE MILL MANAGEMENT COMPANY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2022
8
Related party transactions
(Continued)
- 4 -
At 31 May 2022 the company owed Wiggett Construction Limited £24,191 (2021 : £24,191). Mr P J Wiggett is a director of both companies.