Company Registration No. 00930023 (England and Wales)
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
COMPANY INFORMATION
Directors
A. Chapple
A. Conway
Secretary
Bushey Secretaries and Registrars Limited
Company number
00930023
Registered office
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 OCTOBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 October 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A. Chapple
A. Conway
Legal status

The company is limited by guarantee and has no share capital. In the event of a winding-up, every member of the Company agrees to contribute to the assets of the Company such amount as may be required not exceeding one pound.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A. Chapple
Director
21 January 2025
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,120
5,120
Current assets
-
-
Creditors: amounts falling due within one year
4
(620)
(620)
Net current liabilities
(620)
(620)
Net assets
4,500
4,500
Reserves
Other reserves
4,500
4,500
Total members' funds
4,500
4,500

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 21 January 2025 and are signed on its behalf by:
A. Chapple
Director
Company registration number 00930023 (England and Wales)
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information

Priory Grange (Management) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Egale 1, 80 St Albans Road, Watford, Hertfordshire, WD17 1DL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil
Fixtures, fittings & equipment
Depreciation is not charged as it is considered to be immaterial

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction. Financial liabilities classified as payable within one year are not amortised.

PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Taxation

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

1.6

Status

During the year the company has acted as agent for the lessees of the property at Priory Grange, Fortis Green, London, N2 9ET. The funds in relation to the maintenance of the property are held in trust. As at 31 October 2024 the cash balance held on behalf of the lessees amounted to £114,095.

 

The company therefore has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Priory Grange (Management) Limited.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023 and 31 October 2024
4,500
620
5,120
Depreciation and impairment
At 1 November 2023 and 31 October 2024
-
0
-
0
-
0
Carrying amount
At 31 October 2024
4,500
620
5,120
At 31 October 2023
4,500
620
5,120
4
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
620
620
PRIORY GRANGE (MANAGEMENT) LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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