Registration number:
GORSELANDS COURT LIMITED
for the Year Ended 31 March 2024
GORSELANDS COURT LIMITED
Contents
Company Information |
|
Balance Sheet |
|
Notes to the Financial Statements |
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 |
|
Auditors |
|
GORSELANDS COURT LIMITED
(Registration number: 02978331)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
|
Fixed assets |
|||
Investment property |
|
|
|
Current assets |
|||
Stocks |
|
|
|
Debtors |
|
|
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current liabilities |
( |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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
......................................... |
......................................... |
GORSELANDS COURT LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales .
The address of its registered office is:
The principal place of business is:
41 Aigburth Vale
Liverpool
Merseyside
L17 0DG
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
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
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
Recognition and measurement
Staff numbers |
The average number of persons employed by the company during the year, was
Investment properties |
2024 |
|
At 1 April |
|
At 31 March |
|
There has been no valuation of investment property by an independent valuer.
Stocks |
2024 |
2023 |
|
Other inventories |
|
|
GORSELANDS COURT LIMITED
Notes to the Financial Statements for the Year Ended 31 March 2024
Debtors |
Current |
2024 |
2023 |
Trade debtors |
|
|
Prepayments |
|
|
Other debtors |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
|
Due within one year |
||
Trade creditors |
|
|
Taxation and social security |
|
|
Accruals and deferred income |
|
|
Other creditors |
4,100 |
1,645 |
Surplus Account |
21,904 |
- |
Fund for Future Maintenance |
320,638 |
291,818 |
|
|
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 |
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
53 |
|
53 |
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 £