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Registration number: 02642784

18 Granville Park Flat Management Co Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

18 Granville Park Flat Management Co Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

18 Granville Park Flat Management Co Limited

Company Information

Directors

William Stewart

Henrietta Braund

Registered office

48 Brandram Road
London
SE13 5RT

Accountants

Field Sullivan Limited 9 Hare & Billet Road
Blackheath
SE3 0RB

 

18 Granville Park Flat Management Co Limited

(Registration number: 02642784)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,508

2,508

Current assets

 

Debtors

5

808

778

Cash at bank and in hand

 

423

248

 

1,231

1,026

Creditors: Amounts falling due within one year

6

(1,227)

(1,022)

Net current assets

 

4

4

Net assets

 

2,512

2,512

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

2,508

2,508

Shareholders' funds

 

2,512

2,512

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

18 Granville Park Flat Management Co Limited

(Registration number: 02642784)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 

.........................................
Henrietta Braund
Director

 

18 Granville Park Flat Management Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

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

The address of its registered office is:
48 Brandram Road
London
SE13 5RT

These financial statements were authorised for issue by the Board on 12 June 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.

Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where revisions affects only that period, or in the period of the revision and future periods where the revisions affects both current and future periods.

 

18 Granville Park Flat Management Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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 and after eliminating sales within the company.

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 income is matched to the amount of expenditure in the year, as all expenditure is recoverable from members under the terms of their leases.

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

Freehold property

No depreciation, as the net residual value is not considered to be materially different to the carrying value

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.

 

18 Granville Park Flat Management Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 October 2023

2,508

2,508

At 30 September 2024

2,508

2,508

Depreciation

Carrying amount

At 30 September 2024

2,508

2,508

At 30 September 2023

2,508

2,508

Included within the net book value of land and buildings above is £2,508 (2023 - £2,508) in respect of freehold land and buildings.
 

 

18 Granville Park Flat Management Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Debtors

Current

2024
£

2023
£

Prepayments

808

723

Other debtors

-

55

 

808

778

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,134

822

Other creditors

93

200

1,227

1,022

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share of £1 each

4

4

4

4

       

8

Related party transactions

Summary of transactions with other related parties

The members
(3 shareholders, 2 of whom are directors)

The company received £6,400 (2023: £5,600) from members during the year. At the balance sheet date the amount due to the members was £93 (2023: £55 due from the members).