GORSELANDS COURT LIMITED 02978331 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the management and the supply of services to the owners of leasehold properties situated at Gorselands Court, Aigburth Vale , Liverpool, Merseyside. Digita Accounts Production Advanced 6.30.9574.0 true true 02978331 2023-04-01 2024-03-31 02978331 2024-03-31 02978331 bus:OrdinaryShareClass1 2024-03-31 02978331 core:CurrentFinancialInstruments 2024-03-31 02978331 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02978331 bus:SmallEntities 2023-04-01 2024-03-31 02978331 bus:Audited 2023-04-01 2024-03-31 02978331 bus:FullAccounts 2023-04-01 2024-03-31 02978331 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02978331 bus:RegisteredOffice 2023-04-01 2024-03-31 02978331 bus:CompanySecretary1 2023-04-01 2024-03-31 02978331 bus:Director14 2023-04-01 2024-03-31 02978331 bus:Director15 2023-04-01 2024-03-31 02978331 bus:Director16 2023-04-01 2024-03-31 02978331 bus:Director2 2023-04-01 2024-03-31 02978331 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 02978331 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02978331 countries:AllCountries 2023-04-01 2024-03-31 02978331 2023-03-31 02978331 2022-04-01 2023-03-31 02978331 2023-03-31 02978331 bus:OrdinaryShareClass1 2023-03-31 02978331 core:CurrentFinancialInstruments 2023-03-31 02978331 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02978331

GORSELANDS COURT LIMITED

Filleted Financial Statements

for the Year Ended 31 March 2024

 

GORSELANDS COURT LIMITED

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 7

 

GORSELANDS COURT LIMITED

Company Information

Directors

Mr C Barclay

Mrs J M Roberts

Mrs W Meacham

Mr B W Morris

Company secretary

Retirement Security Limited

Registered office

Unit 3
Wellesbourne Distribution Park
Loxley Road
Wellesbourne
Warwick
CV35 9JY

Auditors

Pennington Williams Limited
Chartered Certified Accountants and Statutory Auditors
Stanhope House
Mark Rake
Bromborough
Wirral
Merseyside
CH62 2DN

 

GORSELANDS COURT LIMITED

(Registration number: 02978331)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

5,643

5,643

Current assets

 

Stocks

5

1,932

1,798

Debtors

6

66,075

35,059

Cash at bank and in hand

 

322,153

288,365

 

390,160

325,222

Creditors: Amounts falling due within one year

7

(395,750)

(330,812)

Net current liabilities

 

(5,590)

(5,590)

Net assets

 

53

53

Capital and reserves

 

Called up share capital

8

53

53

Shareholders' funds

 

53

53

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 Income & Expenditure.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
Mr C Barclay
Director

.........................................
Mrs J M Roberts
Director

 

GORSELANDS COURT LIMITED

Notes to the Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Unit 3
Wellesbourne Distribution Park
Loxley Road
Wellesbourne
Warwick
CV35 9JY

The principal place of business is:
41 Aigburth Vale
Liverpool
Merseyside
L17 0DG

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.

The presentation currency is £ sterling.

Going concern

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

 

GORSELANDS COURT LIMITED

Notes to the Financial Statements for the Year Ended 31 March 2024

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 22 October 2024 was Mrs Lisa Jane Bean FCCA, who signed for and on behalf of Pennington Williams Limited.

Revenue recognition

Turnover comprises amounts receivable in respect of services provided. Income is recognised when the service is provided. The resulting surplus for the year must agree to the fund for future maintenance contribution budget, as set by an external surveyor and agreed by the Board. Any additional surplus over the contribution budget will be due back to the owners and any deficit under the contribution budget must be made good by the owners. These are recognised in the period it relates to.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. Changes in fair value are recognised in profit or loss.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

GORSELANDS COURT LIMITED

Notes to the Financial Statements for the Year Ended 31 March 2024

Employee Benefits

Short-term employee benefits, including holiday pay, are recognised as an expense in the Income & Expenditure Account in the period in which they are incurred.

The company operates a defined benefits contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension costs charge represents contributions payable for the period by the company to the fund.

Fund for Future Maintenance

The company has an obligation to the owners to set aside such sums of money as the company shall reasonably require to meet such future costs as it shall reasonably expenct to incur in replacing, maintaining and renewing those items which it has covenanted to replace, maintain or renew as required by the lease agreement in place with the owners. The result of income over expenditure in the period is transferred to the fund for future maintenance for these future costs to be expended from.

Financial instruments

Classification
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors
 Recognition and measurement
Financial assets that are measured at amortised cost are assessed at the ned of each reporting period for objective evidence of impairment. If objective evidence of imapairment is found, an impairmentloss is recognised in the Income & Expenditure account.
 

3

Staff numbers

The average number of persons employed by the company during the year, was 17 (2023 - 19).

4

Investment properties

2024
£

At 1 April

5,643

At 31 March

5,643

There has been no valuation of investment property by an independent valuer.

5

Stocks

2024
£

2023
£

Other inventories

1,932

1,798

 

GORSELANDS COURT LIMITED

Notes to the Financial Statements for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

52,354

27,115

Prepayments

5,596

4,098

Other debtors

8,125

3,846

 

66,075

35,059

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

21,427

9,676

Taxation and social security

6,980

4,422

Accruals and deferred income

20,701

23,251

Other creditors

4,100

1,645

Surplus Account

21,904

-

Fund for Future Maintenance

320,638

291,818

395,750

330,812

 

GORSELANDS COURT LIMITED

Notes to the Financial Statements for the Year Ended 31 March 2024

Fund for Future Maintenance

2024
 £

2023
 £

Opening Balance

 

291,818

244,637

Transfer of prior year surplus

 

(6,718)

-

Surplus

 

63,640

58,005

Expenditure

 

(28,102)

(10,824)

 

320,638

291,818

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

53

53

53

53

         

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £50,514 (2023 - £9,852).