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Company registration number: 03491117
The Grange (Biddisham) Management Company Limited
Unaudited filleted financial statements
31 December 2021
The Grange (Biddisham) Management Company Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
The Grange (Biddisham) Management Company Limited
Directors and other information
Directors Mr Marcus Bott (Appointed 12 October 2021)
Mr George Williams (Appointed 23 November 2021)
Mr Timothy Williams (Resigned 12 October 2021)
Company number 03491117
Registered office David Plaister Ltd
South Parade
Weston-Super-Mare
North Somerset
BS23 1JN
Accountants Michael J Dodden & Co
34 North Street
Bridgwater
Somerset
TA6 3YD
The Grange (Biddisham) Management Company Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Grange (Biddisham) Management Company Limited
Year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Grange (Biddisham) Management Company Limited for the year ended 31 December 2021 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of The Grange (Biddisham) Management Company Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Grange (Biddisham) Management Company Limited and state those matters that we have agreed to state to the board of directors of The Grange (Biddisham) Management Company Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Grange (Biddisham) Management Company Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Grange (Biddisham) Management Company Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Grange (Biddisham) Management Company Limited. You consider that The Grange (Biddisham) Management Company Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Grange (Biddisham) Management Company Limited. 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 statutory financial statements.
Michael J Dodden & Co
Chartered Certified Accountants
34 North Street
Bridgwater
Somerset
TA6 3YD
The Grange (Biddisham) Management Company Limited
Statement of financial position
31 December 2021
2021 2020
Note £ £ £ £
Current assets
Debtors 4 362 626
Cash at bank and in hand 1,165 7,013
_______ _______
1,527 7,639
Creditors: amounts falling due
within one year 5 ( 2,390) ( 1,373)
_______ _______
Net current (liabilities)/assets ( 863) 6,266
_______ _______
Total assets less current liabilities ( 863) 6,266
_______ _______
Net (liabilities)/assets ( 863) 6,266
_______ _______
Capital and reserves
Profit and loss account ( 863) 6,266
_______ _______
Shareholders (deficit)/funds ( 863) 6,266
_______ _______
For the year ending 31 December 2021 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 July 2022 , and are signed on behalf of the board by:
Mr Marcus Bott Mr George Williams
Director Director
Company registration number: 03491117
The Grange (Biddisham) Management Company Limited
Statement of changes in equity
Year ended 31 December 2021
Profit and loss account Total
£ £
At 1 January 2020 19,963 19,963
Loss for the year ( 13,697) ( 13,697)
_______ _______
Total comprehensive income for the year ( 13,697) ( 13,697)
_______ _______
At 31 December 2020 and 1 January 2021 6,266 6,266
Loss for the year ( 7,129) ( 7,129)
_______ _______
Total comprehensive income for the year ( 7,129) ( 7,129)
_______ _______
At 31 December 2021 ( 863) ( 863)
_______ _______
The Grange (Biddisham) Management Company Limited
Notes to the financial statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Grounded Estate Management, David Plaister Ltd, South Parade, Weston-Super-Mare, North Somerset, BS23 1JN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Debtors
2021 2020
£ £
Trade debtors 139 403
Other debtors 223 223
_______ _______
362 626
_______ _______
5. Creditors: amounts falling due within one year
2021 2020
£ £
Trade creditors 1,674 738
Other creditors 716 635
_______ _______
2,390 1,373
_______ _______