55/59 Grange Road Management Limited Company accounts
55/59 Grange Road Management Limited Company accounts
COMPANY REGISTRATION NUMBER:
06530680
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Financial Statements |
Year ended 31 December 2019
Contents |
Page |
Directors' report |
1 |
Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
Statement of income and retained earnings |
3 |
Statement of financial position |
4 |
Statement of cash flows |
5 |
Notes to the financial statements |
6 |
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Directors' Report |
Year ended 31 December 2019
The directors present their report and the unaudited financial statements of the company for the year ended
31 December 2019
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Principal activities
Directors
The directors who served the company during the year were as follows:
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Small company provisions
This report was approved by the board of directors on
28 September 2020
and signed on behalf of the board by:
J.De Souza
Director
Registered office: |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
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Year ended 31 December 2019
Sampuran House
3a Chislehurst Road
Orpington
Kent
BR6 0DF
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Statement of Income and Retained Earnings |
Year ended 31 December 2019
2019 |
2018 |
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Note |
£ |
£ |
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Turnover |
4 |
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Gross profit |
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Administrative expenses |
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---- |
---- |
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Operating profit |
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Other interest receivable and similar income |
5 |
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Profit before taxation |
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Tax on profit |
6 |
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Profit for the financial year and total comprehensive income |
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Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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All the activities of the company are from continuing operations.
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Statement of Financial Position |
2019 |
2018 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
7 |
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Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
8 |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
9 |
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Share premium account |
10 |
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Profit and loss account |
10 |
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Shareholders funds |
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Directors' responsibilities:
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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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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These financial statements were approved by the
board of directors
and authorised for issue on
28 September 2020
, and are signed on behalf of the board by:
J.De Souza
Director
Company registration number:
06530680
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Statement of Cash Flows |
Year ended 31 December 2019
2019 |
2018 |
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£ |
£ |
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Cash flows from operating activities
Profit for the financial year |
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Adjustments for: |
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Other interest receivable and similar income |
(
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(
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Tax on profit |
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Accrued expenses |
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– |
Changes in: |
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Trade and other creditors |
(
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(
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Cash generated from operations |
(
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(
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Interest received |
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Tax paid |
(
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(
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Net cash used in operating activities |
(
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(
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Net decrease in cash and cash equivalents |
(
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(
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Cash and cash equivalents at beginning of year |
3,953 |
4,029 |
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Cash and cash equivalents at end of year |
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Notes to the Financial Statements |
Year ended 31 December 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Building 3 Chiswick Park, 566 Chiswick High Road, London, W4 5YA.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Judgements and key sources of estimation uncertainty
Revenue recognition
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
4.
Turnover
Turnover arises from:
2019 |
2018 |
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£ |
£ |
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Ground rents receivable |
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The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5.
Other interest receivable and similar income
2019 |
2018 |
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£ |
£ |
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Interest on cash and cash equivalents |
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6.
Tax on profit
Major components of tax expense
2019 |
2018 |
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£ |
£ |
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Current tax:
UK current tax expense |
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Tax on profit |
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Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2018: the same as) the
standard rate of corporation tax in the UK
of
19
% (2018:
19
%).
2019 |
2018 |
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£ |
£ |
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Profit on ordinary activities before taxation |
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Profit on ordinary activities by rate of tax |
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7.
Tangible assets
Land and buildings |
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£ |
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Cost |
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At 1 January 2019 and 31 December 2019 |
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Depreciation |
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At 1 January 2019 and 31 December 2019 |
– |
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Carrying amount |
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At 31 December 2019 |
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At 31 December 2018 |
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8.
Creditors:
amounts falling due within one year
2019 |
2018 |
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£ |
£ |
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Accruals and deferred income |
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Corporation tax |
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Other creditors |
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9.
Called up share capital
Issued, called up and fully paid
2019 |
2018 |
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No. |
£ |
No. |
£ |
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10 |
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10 |
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10.
Reserves
Share premium account - This reserve records the amount above the nominal value received for shares sold, less transaction costs. Profit and loss account - This reserve records retained earnings and accumulated losses.
11.
Analysis of changes in net debt
At 1 Jan 2019 |
Cash flows |
At 31 Dec 2019 |
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£ |
£ |
£ |
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Cash at bank and in hand |
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(76) |
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12.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.