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COMPANY REGISTRATION NUMBER: 06443528
GROVE ROAD MANAGEMENT (WAKEFIELD) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
GROVE ROAD MANAGEMENT (WAKEFIELD) LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
GROVE ROAD MANAGEMENT (WAKEFIELD) LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
2023
2022
Note
£
£
£
£
CURRENT ASSETS
Debtors
4
5,338
9,630
Cash at bank and in hand
7,136
1,936
---------
---------
12,474
11,566
CREDITORS: amounts falling due within one year
6
9,677
9,026
---------
---------
NET CURRENT ASSETS
2,797
2,540
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
2,797
2,540
-------
-------
NET ASSETS
2,797
2,540
-------
-------
GROVE ROAD MANAGEMENT (WAKEFIELD) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
2023
2022
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
17
17
Profit and loss account
2,780
2,523
-------
-------
SHAREHOLDERS FUNDS
2,797
2,540
-------
-------
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 income and retained earnings has not been delivered.
For the 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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 September 2024 , and are signed on behalf of the board by:
M P Dunbar
Director
Company registration number: 06443528
GROVE ROAD MANAGEMENT (WAKEFIELD) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Westfield Farm, 73 Westgate Hill Street, Bradford, West Yorkshire, BD4 0SL.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis in accordance with the lease and on an accruals basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Income
Income represents contributions received or receivable from dwelling holders towards the maintenance of common areas, stated net of discounts and of Value Added Tax.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Current and deferred tax
Service charge monies are held on trust in accordance with section 42, Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit and ground rents are taxable at the basic rate of income tax. The rate of tax applied during the year was 19%.
4. DEBTORS
2023
2022
£
£
Prepayments and accrued income
4,804
9,630
Other debtors
534
-------
-------
5,338
9,630
-------
-------
5. CASH AT BANK
2023
2022
£
£
Cash at bank
7,136
1,935
-------
-------
Service charge monies are held in trust at Lloyds Bank, Commercial Street, Halifax in the bank account entitled "Grove Road Management (Wakefield) Ltd"
6. CREDITORS: amounts falling due within one year
2023
2022
£
£
Accruals and deferred income
592
679
Other creditors
9,085
8,347
-------
-------
9,677
9,026
-------
-------