Registration number: 05178690

Morland Grange (Northcote) Management Co

Contents
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Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Morland Grange (Northcote) Management Co

Company Information
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Directors

Mr A Ahluwalia Mr M Alibhai

Registered office

14 Grosvenor Road Northwood Middlesex HA6 3HJ

Accountants

Brooks Green Chartered AccountantsAbbey House 342 Regents Park Road London N3 2LJ

Morland Grange (Northcote) Management Co

(Registration number: 05178690)
Balance Sheet as at 31 March 2025
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	Note	2025 £		2024 £
Fixed assets
Tangible assets	3		20,000		20,000
Current assets
Debtors	4	8,683		15,433
Cash at bank and in hand		3,418		1,217
		12,101		16,650
Creditors: Amounts falling due within one year	5	(7,514)		(14,973)
Net current assets			4,587		1,677
Net assets			24,587		21,677
Capital and reserves
Revaluation reserve		20,000		20,000
Other reserves		4,587		1,677
Shareholders' funds			24,587		21,677

For the financial year ending 31 March 2025 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.

Approved and authorised by the Board on 5 June 2025 and signed on its behalf by:
 

......................................... Mr A Ahluwalia Director

Morland Grange (Northcote) Management Co

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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1	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

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.

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 specific criteria have been met for each of the company's activities.

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
Land and buildings	Not depreciated

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.

Morland Grange (Northcote) Management Co

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

Morland Grange (Northcote) Management Co

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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3	Tangible assets

	Land and buildings £	Total £
Cost or valuation
Revaluations	20,000	20,000
At 31 March 2025	20,000	20,000
Depreciation
Carrying amount
At 31 March 2025	20,000	20,000
At 31 March 2024	20,000	20,000

Included within the net book value of land and buildings above is £20,000 (2024 - £20,000) in respect of freehold land and buildings.
 

Revaluation

The fair value of the company's Freehold value of land and buildings was revalued on 1 April 2015. An independent valuer was not involved. .
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £20,000 (2024 - £20,000).

4

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties		6,683	13,833
Prepayments		2,000	1,600
		8,683	15,433

Morland Grange (Northcote) Management Co

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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5

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	6	6,350	13,885
Trade creditors		249	288
Accruals and deferred income		915	800
		7,514	14,973

6	Loans and borrowings