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Registration number: 04412400

Grove Terrace Management Company Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Grove Terrace Management Company Ltd

Contents

Company Information

1

Directors' Report

2

Profit and loss account

3

Balance sheet

4

Accountants' Report

5

Detailed Profit and loss account

7

 

Grove Terrace Management Company Ltd

Company Information

Directors

L M Cunningham

H K Hodge

Registered office

79A High Street
Teddington
Middlesex
TW11 8HG

Accountants

Shaw Gibbs Limited
79a High Street
Teddington
Middlesex
TW11 8HG

 

Grove Terrace Management Company Ltd

Directors' Report for the Year Ended 30 April 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

This report has been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

Principal activity

The principal activity of the company is to own and maintain the road known as Grove Terrace on behalf of the residents. Each household in the road owns one of the 23 shares in the company.

Directors of the company

The directors who held office during the year and up to the date of approval of this report were as follows:

L M Cunningham

H K Hodge

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Small companies provision statement

The directors have taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors' report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.

The directors' report was approved by the Board on 5 August 2024 and signed on its behalf by:
 

.........................................
H K Hodge
Director

 

Grove Terrace Management Company Ltd

Profit and loss account for the Year Ended 30 April 2024

2024
£

2023
£

Turnover

4,601

1,787

Other charges

(4,601)

(1,787)

Profit/(loss) for the year

-

-

 

Grove Terrace Management Company Ltd

(Registration number: 04412400)
Balance sheet as at 30 April 2024

2024
£

2023
£

Current assets

30,733

26,890

Prepayments and accrued income

-

1,363

Payables: Amounts falling due within one year

(2,299)

(5,113)

Total assets less current liabilities

28,434

23,140

Accruals and deferred income

(985)

(804)

 

27,449

22,336

Capital and reserves

27,449

22,336

1

General information

Grove Terrace Management Company Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

3

Basis of preparation

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006.

For the financial year ending 30 April 2024 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.

The financial statements of Grove Terrace Management Company Ltd were approved and authorised for issue by the Board on 5 August 2024 and signed on its behalf by:
 

.........................................

H K Hodge
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Grove Terrace Management Company Ltd
for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Grove Terrace Management Company Ltd for the year ended 30 April 2024 as set out on pages 3 to 4 from the company's accounting records and from information and explanations you have given us.

As a practising firm of accountants, we are subject to ethical and other professional requirements.

This report is made solely to the Board of Directors of Grove Terrace Management Company Ltd, as a body, in accordance with the terms of our engagement letter dated 29 June 2016. Our work has been undertaken solely to prepare for your approval the accounts of Grove Terrace Management Company Ltd and state those matters that we have agreed to state to the Board of Directors of Grove Terrace Management Company Ltd, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grove Terrace Management Company Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Grove Terrace Management Company Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Grove Terrace Management Company Ltd. You consider that Grove Terrace Management Company Ltd 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 accounts of Grove Terrace Management Company Ltd. 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 accounts.

......................................
For and on behalf of
Shaw Gibbs Limited
79a High Street
Teddington
Middlesex
TW11 8HG

5 August 2024

 

Grove Terrace Management Company Ltd

Notes to the Financial Statements
for the Year Ended 30 April 2024

1

Current assets

2024
£

2023
£

Maintenance charges receivable

225

750

Cash and short-term deposits

30,508

26,140

30,733

26,890

2

Accruals

2024
£

2023
£

Due within one year

Accrued expenses

985

804

3

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

23

23

23

23

         

Share capital
£

Retained earnings
£

Total
£

At 1 May 2023

23

27,426

27,449

At 30 April 2024

23

27,426

27,449

 

Grove Terrace Management Company Ltd

Detailed Profit and loss account
for the Year Ended 30 April 2024

2024
£

2023
£

Maintenance income

Maintenance charges demanded

6,900

6,900

Deficit/(surplus) in maintenance charges demanded

(2,299)

(5,113)

4,601

1,787

Maintenance expenses

Insurance

683

564

Garden maintenance

92

115

Repairs and maintenance

2,727

-

Company secretarial

181

144

Sundry expenses

85

90

Accountancy fees

660

780

Legal charges

80

-

Bank charges

93

94

(4,601)

(1,787)

Operating profit/(loss)

-

-

Profit/(loss) before tax

-

-