60 Grenville Road Management Limited |
Notes to the Accounts |
for the year ended 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represent the Service Charges and Ground Rents rendered to the tenants of the flats at 60 Grenville Road, London N19. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Freehold land and buildings |
over 50 years |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
0 |
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0 |
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3 |
Tangible fixed assets |
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Land and buildings |
£ |
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Cost |
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At 1 April 2022 |
55,722 |
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Depreciation |
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Charge for the year |
1,114 |
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At 31 March 2023 |
1,114 |
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Net book value |
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At 31 March 2023 |
54,608 |
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At 31 March 2022 |
55,722 |
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4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
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Trade debtors |
887 |
|
45 |
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Other debtors |
280 |
|
233 |
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1,167 |
|
278 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Other creditors |
1,654 |
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1,680 |
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6 |
Related party transactions |
2023 |
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2022 |
£ |
£ |
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S H Roth (Ms) (Dec'd) |
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Director and shareholder |
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Service charges and ground rent paid on two flats |
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1,177 |
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1,177 |
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Loan to company for freehold acquisition |
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|
15,000 |
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Subscription for new share |
(15,000) |
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Amount due from/(to) the related party |
842 |
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(41) |
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T E Watt |
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Director and shareholder |
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Service charges and ground rent paid on a flat |
|
1,199 |
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1,199 |
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Loan to company for freehold acquisition |
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- |
|
7,500 |
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Subscription for new share |
(7,500) |
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Amount due (to) the related party |
(1,250) |
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(1,250) |
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S F Spector |
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Director |
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Fees payable for accountancy work. |
|
330 |
|
315 |
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Amount due (to) the related party |
(330) |
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(315) |
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S L Ward (Ms) |
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Director and shareholder |
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Service charges and ground rent paid on a flat |
|
511 |
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511 |
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Loan to company for freehold acquisition |
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- |
|
7,500 |
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Subscription for new share |
(7,500) |
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Amount due (to) the related party |
(12) |
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(12) |
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C Bolton (Ms) |
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Director and shareholder |
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Service charges and ground rent paid on a flat |
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600 |
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600 |
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Loan to company for freehold acquisition |
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- |
|
7,500 |
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Subscription for new share |
(7,500) |
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Amount due (to) the related party |
(50) |
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(50) |
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I Frank |
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Shareholder |
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Service charges and ground rent paid on a flat |
|
1,038 |
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1,038 |
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Loan to company for freehold acquisition |
|
- |
|
7,500 |
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Subscription for new share |
(7,500) |
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Amount due from/(to) the related party |
8 |
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8 |
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P Hill |
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Shareholder |
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Service charges and ground rent paid on a flat |
|
654 |
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654 |
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Loan to company for freehold acquisition |
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|
7,500 |
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Subscription for new share |
(7,500) |
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Amount due from/ (to) the related party |
38 |
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38 |
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7 |
Other information |
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60 Grenville Road Management Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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60 Grenville Road |
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London |
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N19 4EH |