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Registered number: 00905418 GRANTHAM COURT MANAGEMENT LIMITED DIRECTORS' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 JULY 2024
GRANTHAM COURT MANAGEMENT LIMITED COMPANY INFORMATION
Directors | A H Fakih
| M Taheri
| J Screech
Registered number | 00905418
Registered office | 10 Queen Street Place
| London
| EC4R 1AG
Independent auditors | HaysMac LLP
| 10 Queen Street Place
| London
| EC4R 1AG
GRANTHAM COURT MANAGEMENT LIMITED CONTENTS
| Page
Directors' Report | 1 - 2
Independent Auditors' Report | 3 - 6
Statement of Comprehensive Income | 7
Statement of Financial Position | 8
Notes to the Financial Statements | 9 - 11
GRANTHAM COURT MANAGEMENT LIMITED DIRECTORS' REPORT FOR THE YEAR ENDED 9 JULY 2024 The directors present their report and the financial statements for Grantham Court Management Limited (the 'Company') for the year ended 9 July 2024. The Company's principal activity continued to be that of residential property management.
Directors' responsibilities statement
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgements and accounting estimates that are reasonable and prudent; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who served during the year were:
A H Fakih
M Taheri
J Screech
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information. Page 1
GRANTHAM COURT MANAGEMENT LIMITED DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 9 JULY 2024
Auditors
On 18 November 2024, the Company's auditors changed their name from Haysmacintyre LLP to HaysMac LLP. The auditors, HaysMac LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
Small companies note
In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006. This report was approved by the board and signed on its behalf.
................................................ J Screech Director
Date: 19 June 2025
Page 2
GRANTHAM COURT MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GRANTHAM COURT MANAGEMENT LIMITED
Opinion
We have audited the financial statements of Grantham Court Management Limited (the 'Company') for the year ended 9 July 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 9 July 2024 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 3
GRANTHAM COURT MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GRANTHAM COURT MANAGEMENT LIMITED (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Directors' Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit; or ∙the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report. Page 4
GRANTHAM COURT MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GRANTHAM COURT MANAGEMENT LIMITED (CONTINUED)
Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud. Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements for the property management industry, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, income tax, payroll tax and sales tax. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included: ∙inspecting correspondence with regulators and tax authorities; ∙discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud; ∙evaluating management’s controls designed to prevent and detect irregularities; ∙challenging assumptions and judgements made by management in their critical accounting estimates Page 5
GRANTHAM COURT MANAGEMENT LIMITED INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF GRANTHAM COURT MANAGEMENT LIMITED (CONTINUED) Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Jake Pearlman (Senior Statutory Auditor) for and on behalf of HaysMac LLP Statutory Auditors 10 Queen Street Place London EC4R 1AG 19 June 2025 Page 6
GRANTHAM COURT MANAGEMENT LIMITED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 9 JULY 2024
| 2024 | 2023
| £ | £
Turnover |  | 33,030 | 31,284
Gross profit |  | 33,030 | 31,284
Administrative expenses |  | (27,736) | (10,593)
Operating profit |  | 5,294 | 20,691
Tax on profit |  | (1,650) | (466)
Profit for the financial year |  | 3,644 | 20,225
There was no other comprehensive income for 2024 (2023: £Nil).
The notes on pages 9 to 11 form part of these financial statements.
Page 7
GRANTHAM COURT MANAGEMENT LIMITED REGISTERED NUMBER: 00905418 STATEMENT OF FINANCIAL POSITION AS AT 9 JULY 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Current assets |  |  |  |  |
Debtors | 4 | 187,554 |  | 179,712 |
|  | 187,554 |  | 179,712 |
Creditors: amounts falling due within one year | 5 | (34,356) |  | (30,158) |
Net current assets |  |  | 153,198 |  | 149,554
Total assets less current liabilities |  |  | 153,198 |  | 149,554
Net assets |  |  | 153,198 |  | 149,554
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 1,400 |  | 1,400
Profit and loss account |  |  | 151,798 |  | 148,154
|  |  | 153,198 |  | 149,554
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 were approved and authorised for issue by the board and were signed on its behalf by:
................................................ J Screech
Director
Date: 19 June 2025
The notes on pages 9 to 11 form part of these financial statements. Page 8
GRANTHAM COURT MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 JULY 2024
1. | General information
Grantham Court Management Limited is a private company limited by shares and incorporated in England and Wales. The Company's registered number is 00905418 and registered office address is 10 Queen Street Place, London, EC4R 1AG. The Company's principal activity is disclosed in the Directors' Report. 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 financial statements are prepared in sterling, which is the funcational currency of the entity and rounded to the nearest £. The following principal accounting policies have been applied:
| 2.2 | Going concern
In assessing the Company's ability to continue as a going concern, the directors have considered the liquidity position. The Company has adequate financial resources and as a consequence, the directors believe that the Company is well placed to manage its business risks successfully and meet its liabilities as they fall due. For this reason, the directors continue to adopt the going concern basis in preparation of the financial statements.
| 2.3 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably. Page 9
GRANTHAM COURT MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 JULY 2024 2.Accounting policies (continued)
| 2.4 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.6 | Creditors
Short-term creditors are measured at the transaction price.
| 2.7 | Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and other creditors.
3. | Employees
| The Company has no employees other than the directors, who did not receive any remuneration (2023: £Nil).
4. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 9,658 | 2,509
| Other debtors | 177,678 | 174,704
| Prepayments and accrued income | 218 | 2,499
|  | 187,554 | 179,712
Page 10
GRANTHAM COURT MANAGEMENT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 9 JULY 2024
5. | Creditors: amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Corporation tax | 1,650 | 5,566
| Other creditors | 16,033 | 12,541
| Accruals and deferred income | 16,673 | 12,051
|  | 34,356 | 30,158
6. | Related party transactions
| Rental income of £26,320 (2023: £26,320) arose from a lease to a connected company which is controlled by a director of the Company. As at 09 July 2024, amounts owed by the connected company in respect of this lease totalled £9,532 (2023: £4,755).
7. | Post Balance Sheet Event
On 9 April 2025, subsequent to the reporting date, the company appointed Cobbs Property Limited as its new managing agent, replacing Levy Asset Management Limited.
Page 11