Groundcertain Property Management Ltd - Limited company accounts 18.2

REGISTERED NUMBER: 03232766 (England and Wales)

REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2018

FOR

GROUNDCERTAIN PROPERTY MANAGEMENT

LIMITED

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

P J Wallace

REGISTERED OFFICE:

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

REGISTERED NUMBER:

03232766 (England and Wales)

ACCOUNTANTS:

Platt Rushton LLP

Chartered Accountants

Sutherland House

1759 London Road

Leigh on Sea

Essex

SS9 2RZ

The director presents his report with the financial statements of the company for the year ended 30th April 2018.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the administration of variable service charges

as agents of the statutory trust for the residents of 5-12 Alnwick Close and 31-41 (Odd) Lancaster Drive, Basildon,

Essex.

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in

accordance with the provisions of section 42 of the Landlord and Tenant Act 1987.

Tenants can obtain the full set of information about service charges in separately prepared service charge accounts.

The company is responsible for collection of ground rents. It pays these over to the Superior Landlord.

DIRECTORS

The directors who have held office during the period from 1st May 2017 to the date of this report are as follows:

C P Eggleton - resigned 16th October 2017

P J Wallace - appointed 30th January 2018

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P J Wallace - Director

25th September 2018

TURNOVER

1,950

Administrative expenses

1,950

OPERATING PROFIT and

PROFIT BEFORE TAXATION

-

Tax on profit

-

PROFIT FOR THE FINANCIAL YEAR

-

CURRENT ASSETS

Debtors

3

492

634

Cash at bank

731

500

1,223

1,134

CREDITORS

Amounts falling due within one year

4

1,223

1,134

TOTAL ASSETS LESS CURRENT
LIABILITIES

-

CAPITAL AND RESERVES

Called up share capital

14

Restricted Reserve

5

(14

)

(14

)

SHAREHOLDERS' FUNDS

-

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 25th September 2018 and were signed by:

P J Wallace - Director

1.	STATUTORY INFORMATION

Groundcertain Property Management Limited is a private company, limited by shares , registered in England and

Wales. The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade debtors

492

634

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

773

684

Other creditors

450

1,223

1,134

5.

RESERVES

Restricted

Reserve

£

At 1st May 2017

and 30th April 2018

(14

)

6.	ULTIMATE CONTROLLING PARTY

There is no controlling party. All lessees hold shares and are entitled to vote.