The Grove (Axminster) Property Management Company Limited 05941886 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is residents management company - the collection of funds from the property owners to maintain communal areas Digita Accounts Production Advanced 6.30.9574.0 true true 05941886 2023-01-01 2023-12-31 05941886 2023-12-31 05941886 bus:OrdinaryShareClass1 2023-12-31 05941886 core:CurrentFinancialInstruments 2023-12-31 05941886 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05941886 core:LandBuildings 2023-12-31 05941886 bus:SmallEntities 2023-01-01 2023-12-31 05941886 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 05941886 bus:FullAccounts 2023-01-01 2023-12-31 05941886 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 05941886 bus:RegisteredOffice 2023-01-01 2023-12-31 05941886 bus:Director3 2023-01-01 2023-12-31 05941886 bus:Director4 2023-01-01 2023-12-31 05941886 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 05941886 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 05941886 core:Land 2023-01-01 2023-12-31 05941886 countries:UnitedKingdom 2023-01-01 2023-12-31 05941886 2022-12-31 05941886 core:LandBuildings 2022-12-31 05941886 2022-01-01 2022-12-31 05941886 2022-12-31 05941886 bus:OrdinaryShareClass1 2022-12-31 05941886 core:CurrentFinancialInstruments 2022-12-31 05941886 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 05941886 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05941886

The Grove (Axminster) Property Management Company Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

The Grove (Axminster) Property Management Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 5

 

The Grove (Axminster) Property Management Company Limited

(Registration number: 05941886)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1

1

Current assets

 

Debtors

5

65

62

Cash at bank and in hand

 

1,096

975

 

1,161

1,037

Creditors: Amounts falling due within one year

6

(372)

(372)

Net current assets

 

789

665

Net assets

 

790

666

Capital and reserves

 

Called up share capital

7

12

12

General reserves

200

200

Retained earnings

578

454

Shareholders' funds

 

790

666

For the financial year ending 31 December 2023 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 financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 January 2024 and signed on its behalf by:
 

 

The Grove (Axminster) Property Management Company Limited

(Registration number: 05941886)
Balance Sheet as at 31 December 2023

.........................................
Mr John David Griffiths
Director

.........................................
Mr Ian George Arthur von Heintze
Director

 

The Grove (Axminster) Property Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
c/o Easterbrook Eaton Ltd
Cosmopolitan House
Old Fore Street
Sidmouth
Devon
EX10 8LS

The principal place of business is:
45 Abbey Close
Axminster
Devon
EX13 5QU

These financial statements were authorised for issue by the Board on 29 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the consideration received or receivable as contributions towards shared costs of the freehold held by the management company. The company does not trade.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

The Grove (Axminster) Property Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Nil (no depreciation)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from shareholders for service charge contributions and levies.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Borrowings

Borrowings are shown at settlement cost and exclude any future interest commitments.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

The Grove (Axminster) Property Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2023

1

1

At 31 December 2023

1

1

Depreciation

Carrying amount

At 31 December 2023

1

1

At 31 December 2022

1

1

Included within the net book value of land and buildings above is £1 (2022 - £1) in respect of freehold land and buildings.
 

5

Debtors

Current

2023
£

2022
£

Prepayments

65

62

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Other creditors

372

372

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

12

12

12

12