The Guild of Letting & Management Limited 05394801 false 2023-03-28 2024-03-27 2024-03-27 The principal activity of the company is that of technical and vocational secondary educational activities Digita Accounts Production Advanced 6.30.9574.0 true true 05394801 2023-03-28 2024-03-27 05394801 2024-03-27 05394801 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-03-27 05394801 core:CurrentFinancialInstruments 2024-03-27 05394801 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-27 05394801 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-03-27 05394801 core:OfficeEquipment 2024-03-27 05394801 bus:SmallEntities 2023-03-28 2024-03-27 05394801 bus:AuditExemptWithAccountantsReport 2023-03-28 2024-03-27 05394801 bus:FullAccounts 2023-03-28 2024-03-27 05394801 bus:SmallCompaniesRegimeForAccounts 2023-03-28 2024-03-27 05394801 bus:RegisteredOffice 2023-03-28 2024-03-27 05394801 bus:Director1 2023-03-28 2024-03-27 05394801 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-28 2024-03-27 05394801 bus:PrivateLimitedCompanyLtd 2023-03-28 2024-03-27 05394801 core:OfficeEquipment 2023-03-28 2024-03-27 05394801 countries:England 2023-03-28 2024-03-27 05394801 2023-03-27 05394801 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-27 05394801 core:OfficeEquipment 2023-03-27 05394801 2022-03-28 2023-03-27 05394801 2023-03-27 05394801 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-03-27 05394801 core:CurrentFinancialInstruments 2023-03-27 05394801 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-27 05394801 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-27 05394801 core:OfficeEquipment 2023-03-27 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05394801

The Guild of Letting & Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 27 March 2024

 

The Guild of Letting & Management Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

The Guild of Letting & Management Limited

(Registration number: 05394801)
Balance Sheet as at 27 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

11,725

11,725

Tangible assets

5

112

161

 

11,837

11,886

Current assets

 

Debtors

6

111,816

87,480

Cash at bank and in hand

 

2,764

4,661

 

114,580

92,141

Creditors: Amounts falling due within one year

7

(125,844)

(101,568)

Net current liabilities

 

(11,264)

(9,427)

Net assets

 

573

2,459

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

473

2,359

Shareholders' funds

 

573

2,459

For the financial year ending 27 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges her 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.

Approved and authorised by the director on 28 February 2025
 

.........................................
Miss A Crolla
Director

 

The Guild of Letting & Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 March 2024

1

General information

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

The address of its registered office is:
First Floor
Broxbournebury Mansion
White Stubbs Lane
Broxbourne
EN10 7PY

These financial statements were authorised for issue by the director on 28 February 2025.

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 Guild of Letting & Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 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

Office equipment

30% per annum reducing balance basis

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

The Guild of Letting & Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Intangible assets

Online training facility
 £

Total
£

Cost

At 28 March 2023

11,725

11,725

At 27 March 2024

11,725

11,725

Net book value

At 27 March 2024

11,725

11,725

At 27 March 2023

11,725

11,725

5

Tangible assets

Office equipment
£

Total
£

Cost

At 28 March 2023

11,794

11,794

At 27 March 2024

11,794

11,794

Depreciation

At 28 March 2023

11,633

11,633

Charge for the year

49

49

At 27 March 2024

11,682

11,682

Net book value

At 27 March 2024

112

112

At 27 March 2023

161

161

 

The Guild of Letting & Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 27 March 2024

6

Debtors

2024
£

2023
£

Trade debtors

20,000

10,000

Other debtors

91,816

77,480

111,816

87,480

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

5,000

5,000

Taxation and social security

118,844

94,567

Accruals and deferred income

2,000

2,001

125,844

101,568

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100