The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

Twenty Grosvenor Square Management Company Ltd is a private company limited by guarantee incorporated in England and Wales. The registered office is 20 Grosvenor Square, London, W1K 6US.

The entity's nature of operations and principal activity is that of the management of Twenty Grosvenor Square.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.

All cash is held on Trust and therefore restricted and only available to be used in accordance with Section 42 of the Landlords and Tenants Act 1987.

The company is a mutual trader. As a result, the company is only taxed on bank interest received and realised gains on investments.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Deferred income account

This represents funds collected from residents in accordance with the terms of their leases, for the funding of maintenance costs which will be at an uncertain future date. The funds are held on Trust and if they are not spent will be returned to residents; accordingly, they are classified as a non-current liability. The funds have been invested and any interest and any capital gains earned will also be held on Trust.

The average monthly number of persons (excluding directors) employed by the company during the year was:

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited. Every member of the Company undertakes to contribute to the assets of the Company, in the event of the same being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding £1.

The company is a private limited company limited by guarantee and consequently has no share capital.