Greenland Mews Management Company Limited |
Company Limited by Guarantee |
Balance Sheet for the Limited Company |
as at 31 July 2024 |
|
Notes |
|
2024 |
|
|
2023 |
|
£ |
£ |
|
Fixed assets |
Tangible assets |
3 |
|
- |
|
|
- |
|
Current assets |
Debtors |
4 |
|
200 |
|
|
150 |
Ground Rents Bank Account |
8,519 |
|
|
8,169 |
|
|
|
8,719 |
|
|
8,319 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
|
(1,514) |
|
|
(6,002) |
|
Net assets |
7,205 |
|
|
2,317 |
|
|
|
|
|
|
|
Capital and reserves |
Income and Expenditure Account |
5 |
|
7,205 |
|
|
2,317 |
|
Shareholders' funds |
7,205 |
|
|
2,317 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
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|
|
|
|
Mr J Whitley |
Director |
Approved by the board on 10 April 2025 |
|
Greenland Mews Management Company Limited |
Company Limited by Guarantee |
Notes to the Limited Company Accounts |
for the year ended 31 July 2024 |
|
1 |
Accounting Policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
Tangible fixed assets |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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Greenland Mews Management Company Limited |
Company Limited by Guarantee |
Notes to the Limited Company Accounts |
for the year ended 31 July 2024 |
|
|
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
2 |
Tangible fixed assets |
|
The freehold of the common parts of Greenland Mews Estate and the freehold of the four leasehold flats are owned by Greenland Mews Management Company Limited. The residual value of the Freehold is deemed to be equal to, or exceeds, its current carrying value of £Nil (2023:£Nil) |
|
3 |
Debtors |
|
|
|
|
2024 |
|
2023 |
£ |
£ |
|
|
Ground rents due to be invoiced |
200 |
|
- |
|
Ground rent debtor |
- |
|
150 |
|
|
|
|
|
|
200 |
|
150 |
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Amount due to service charge trust |
367 |
|
6,002 |
|
Taxation and social security costs |
1,147 |
|
- |
|
|
|
|
|
|
1,514 |
|
6,002 |
|
|
|
|
|
|
|
|
|
5 |
Income and Expenditure Account |
2024 |
£ |
|
|
At 1 August 2023 |
2,317 |
|
Profit for year |
4,888 |
|
At 31 July 2024 |
7,205 |
|
|
|
|
|
|
|
6 |
Tech 03/11 |
|
|
In accordance with Tech 03/11, guidance issued by the Institute of Chartered Accountants in England and Wales, the net service charge assets and reserves which are held under trust on behalf of the owners are shown in a separate service charge accounts balance sheet. Thus the assets owned by the company are distinguished from those held on trust for the owners. |
|
7 |
Reserves held on trust |
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|
The reserves relating to the service charge accounts are held on trust for owners and thus no longer included within Greenland Mews Management Company Limited’s own balance sheet. The reserves which total £1,177 are instead included in the Service Charge Trust balance sheet. |
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Greenland Mews Management Company Limited |
Company Limited by Guarantee |
Notes to the Limited Company Accounts |
for the year ended 31 July 2024 |
|
8 |
Company Limited by Guarantee |
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|
The Company is a Company Limited by Guarantee, and does not therefore have a share Capital. The liability of the members is limited to the amount which each member has guaranteed to subscribe in the event that the Company closes. |
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9 |
Other information |
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Greenland Mews Management Company Limited is a private company limited by guarantee and incorporated in England and Wales. Its registered office is: |
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Renzo Technology Ltd |
|
5th Floor |
|
167-169 Great Portland Street |
|
London |
|
W1W 5PF |