COMPANY REGISTRATION NUMBER:
13679746
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Filleted Unaudited Financial Statements |
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Year ended 31 October 2025
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Statement of financial position |
1 |
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Notes to the financial statements |
2 |
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Statement of Financial Position |
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31 October 2025
Current assets
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Debtors |
5 |
9 |
9 |
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---- |
---- |
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Net current assets |
9 |
9 |
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---- |
---- |
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Total assets less current liabilities |
9 |
9 |
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---- |
---- |
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Capital and reserves
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Called up share capital |
9 |
9 |
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---- |
---- |
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Shareholders funds |
9 |
9 |
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---- |
---- |
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These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
7 November 2025
, and are signed on behalf of the board by:
Company registration number:
13679746
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Notes to the Financial Statements |
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Year ended 31 October 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Peterstone Perch, Gellionen Road, Clydach, Swansea, SA6 5HE.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Accounting for service charges
The company is responsible for the management of Globe Apartments numbers 1-9, High Street, Clydach, Swansea, SA6 5LF and collects service charges from the lessees in order to fund expenditure incurred in the management of the property. These service charge funds are held in trust for the lessees as required by the Landlord and Tenant Act 1987. Transactions relating to the management of the property are reported separately to the lessees and are excluded from the company's financial statements.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Taxation
The company is a mutual trading Company and accordingly there is no liability to tax on income other than investment income.
5.
Debtors
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2025 |
2024 |
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£ |
£ |
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Other debtors |
9 |
9 |
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---- |
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6.
Statement of income and retained earnings
The company has no income or expenditure in its own right. All transactions in the year relate to maintenance of the common parts in accordance with the lease. Income and expenditure arising from these transactions is shown in separate unaudited service charge accounts for the property, prepared for the tenants, that do not form part of the annual accounts of the company and are not filed at Companies House. All service charge monies received from the leaseholders of Globe Apartments numbers 1-9 are held in trust for the leaseholders.