The Grange (Arnside) Management Company Limited 04141294 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Property Management Digita Accounts Production Advanced 6.30.9574.0 true true 04141294 2023-04-01 2024-03-31 04141294 2024-03-31 04141294 core:CurrentFinancialInstruments 2024-03-31 04141294 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04141294 core:ConstructionInProgressAssetsUnderConstruction 2024-03-31 04141294 core:FurnitureFittingsToolsEquipment 2024-03-31 04141294 bus:SmallEntities 2023-04-01 2024-03-31 04141294 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 04141294 bus:FilletedAccounts 2023-04-01 2024-03-31 04141294 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 04141294 bus:RegisteredOffice 2023-04-01 2024-03-31 04141294 bus:CompanySecretary1 2023-04-01 2024-03-31 04141294 bus:Director14 2023-04-01 2024-03-31 04141294 bus:Director17 2023-04-01 2024-03-31 04141294 bus:Director18 2023-04-01 2024-03-31 04141294 bus:Director2 2023-04-01 2024-03-31 04141294 bus:CompanyLimitedByGuarantee 2023-04-01 2024-03-31 04141294 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 04141294 countries:AllCountries 2023-04-01 2024-03-31 04141294 2023-03-31 04141294 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 04141294 core:FurnitureFittingsToolsEquipment 2023-03-31 04141294 2022-04-01 2023-03-31 04141294 2023-03-31 04141294 core:CurrentFinancialInstruments 2023-03-31 04141294 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 04141294 core:ConstructionInProgressAssetsUnderConstruction 2023-03-31 04141294 core:FurnitureFittingsToolsEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 04141294

The Grange (Arnside) Management Company Limited

(A company limited by guarantee)

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

The Grange (Arnside) Management Company Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

The Grange (Arnside) Management Company Limited

Company Information

Directors

Mr D D Brown

Mr K Metcalfe

Mr M D Ode

Mr J B Sutton

Company secretary

Homestead Consultancy Services Ltd

Registered office

29 St Annes Road West
Lytham St Annes
Lancashire
FY8 1SB

Accountants

Harrison Salmon Associates Limited
Chartered Accountants
Suite 21 Chorley Business & Technology Centre
East Terrace
Euxton Lane
Chorley
Lancashire
PR7 6TE

 

The Grange (Arnside) Management Company Limited

(Registration number: 04141294)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

4

4

Current assets

 

Debtors

5

7,082

3,807

Cash at bank and in hand

 

157,395

149,131

 

164,477

152,938

Creditors: Amounts falling due within one year

6

(25,345)

(31,351)

Net current assets

 

139,132

121,587

Net assets

 

139,136

121,591

Reserves

 

Retained earnings

139,136

121,591

Surplus

 

139,136

121,591

For the financial year ending 31 March 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.

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 Profit and Loss Account.

Approved and authorised by the Board on 14 August 2024 and signed on its behalf by:
 

.........................................
Mr M D Ode
Director

 

The Grange (Arnside) Management Company Limited

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

1

General information

The company is a company limited by guarantee, incorporated in England , 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 address of its registered office is:
29 St Annes Road West
Lytham St Annes
Lancashire
FY8 1SB

These financial statements were authorised for issue by the Board on 14 August 2024.

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.

Going concern

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

The Grange (Arnside) Management Company Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture, Fittings, tools and equipment

15% reducing balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Financial instruments

Classification
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
 

3

Staff numbers

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

 

The Grange (Arnside) Management Company Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Land
£

Total
£

Cost or valuation

At 1 April 2023

151

100,000

100,151

At 31 March 2024

151

100,000

100,151

Depreciation

At 1 April 2023

147

100,000

100,147

At 31 March 2024

147

100,000

100,147

Carrying amount

At 31 March 2024

4

-

4

At 31 March 2023

4

-

4

The land has a legal agreement in place which states that all 21 owners have to agree to any sale, with no interest to sell from the owners the land effectively has no value.

5

Debtors

Current

2024
£

2023
£

Trade debtors

304

-

Prepayments

6,778

3,807

 

7,082

3,807

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

285

-

Accruals and deferred income

2,722

2,463

Other creditors

22,338

28,888

25,345

31,351