GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2023
The Company is a private company limited by guarantee and is incorporated in England. The address of its registered office is 37 Garrick House, Carrington Street, London, W1J 7AF.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Under the terms of their leases the costs of the Company's activities in managing and maintaining Garrick House are met in full by the lessees and the Landlord and accordingly the Company makes neither a profit nor loss on its activities.
The service charge contributions paid by the lessees towards the Company's costs are held by the Company for the lessees' benefit in accordance with Section 42 of the Landlord and Tenant Act 1987. The Company has no beneficial interest in these funds and consequently have been excluded
from these accounts.
These accounts reflects the best practice advised in Technical release 03/11 Accounting for Service Charges, prepared by ICAEW together with ARMA and RICS. The affairs of the service charge, and its assets and liabilities, belong to the statutory trust, established by section 42 of the LTA 1987, and not Garrick House Management Limited. Therefore the Company accounts reflect only the assets and liabilities of the Company.
Service charge accounts for Garrick House have been prepared separately.
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The Company is controlled by the Members.
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