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Registered number: 14742501









GRANITE MANAGEMENT COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024

 
GRANITE MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 14742501

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024


2024
Note
£
£

Fixed assets
  

Investment property
 4 
6,290,033

  
6,290,033

Current assets
  

Debtors: amounts falling due within one year
 5 
100

  
100

Creditors: amounts falling due within one year
 6 
(6,294,356)

Net current liabilities
  
 
 
(6,294,256)

Total assets less current liabilities
  
(4,223)

  

Net liabilities
  
(4,223)


Capital and reserves
  

Called up share capital 
 7 
100

Profit and loss account
  
(4,323)

  
(4,223)


Page 1

 
GRANITE MANAGEMENT COMPANY LIMITED
REGISTERED NUMBER: 14742501
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 May 2025.




J J F O'Hara
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
GRANITE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Granite Management Company Limited, is a company limited by shares, incorporated in England and Wales. The address of the registered office is 101 Rowlands Avenue Hatch End, Pinner, Middlesex, United Kingdom, HA5 4AW.
The company was incorporated on 20 March 2023, and began trading on 31 March 2023.
The company is a property investment company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the net current liabilities of £6,294,256. The company has the support of its shareholders and that they will enable the company's liabilities to be met as they fall due for a period of not less than twelve months from the date of signing of these financial statements. On this basis, the directors believe that the preparation of the accounts on a going concern is appropriate.

 
2.3

Investment property

Investment property is carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 3

 
GRANITE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Investment property


Investment property

£



Valuation


Additions at cost
6,290,033



At 31 March 2024
6,290,033

The 2024 valuations were made by the directors, on an open market value for existing use basis.





5.


Debtors

2024
£


Amounts owed by group undertakings
100

100



6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
1,165

Amounts owed to group undertakings
6,290,691

Accruals and deferred income
2,500

6,294,356


Page 4

 
GRANITE MANAGEMENT COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Share capital

2024
£
Allotted, called up and fully paid


100 Ordinary shares of £1.00 each
100


On incorporation, 100 Ordinary shares of £1 each were issued at par.


8.


Related party transactions

Included in amounts owed by group undertakings is amount of £50 due from Brookmans Neasden Limited, a company shareholder.
 
Included in amounts owed by group undertakings is amount of £50 due from Rowlands Property Holdings Limited, a company shareholder.
 
Included in amounts owed to group undertakings are amounts of £6,290,691 due to companies controlled by close family members of the directors.
 


9.


Controlling party

In the opinion of the directors, there is no ultimate controlling party.

Page 5