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COMPANY REGISTRATION NUMBER: 03280111
Greystones Residents Management Company Limited
Company Limited by Guarantee
Filleted Unaudited Financial Statements
30 April 2024
Greystones Residents Management Company Limited
Company Limited by Guarantee
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
1
1
Current Assets
Cash at bank and in hand
20,271
18,329
Creditors: amounts falling due within one year
6
9,760
11,500
--------
--------
Net Current Assets
10,511
6,829
--------
-------
Total Assets Less Current Liabilities
10,512
6,830
--------
-------
Net Assets
10,512
6,830
--------
-------
Capital and Reserves
Profit and loss account
10,512
6,830
--------
-------
Members Funds
10,512
6,830
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 January 2025 , and are signed on behalf of the board by:
Mr D N H Parry
Director
Company registration number: 03280111
Greystones Residents Management Company Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is Pembroke House, Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue Recognition
Turnover is measured at the fairvalue of the consideration received for invoices rendered to residents for service charges.
Tangible Assets
Freehold Land- The freehold land is recorded at the nominal value at which the freehold title was vested in the name of the company in September 1998. This value is considered to represent current market value due to the long leasehold nature of the property situated on the company's land.
Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Company limited by guarantee
The company was incorporated on 19 November 1996 as a company limited by guarantee and not having a share capital.
5. Tangible assets
Land and buildings
£
Cost
At 1 May 2023 and 30 April 2024
1
----
Depreciation
At 1 May 2023 and 30 April 2024
----
Carrying amount
At 30 April 2024
1
----
At 30 April 2023
1
----
The company owns the freehold title to the land at Foster Road, Wrexham, upon which is situated the property known as "Greystones". The freehold title was vested in the name of the company on 2nd September 1998 for a nominal consideration of £1. The nine apartments contained within the "Greystones" property are each occupied under a 999 year lease, granted on 1st January 1997.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
9,760
11,500
-------
--------
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard for Smaller Entities (effective January 2015).