Grovelands Property Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04143628 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

FOR

GROVELANDS PROPERTY MANAGEMENT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D J K Iny

Mrs S Iny

SECRETARY:

Mrs S Iny

REGISTERED OFFICE:

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

REGISTERED NUMBER:

04143628 (England and Wales)

ACCOUNTANTS:

Melinek Fine LLP

Chartered Accountants

First Floor, Winston House

349 Regents Park Road

London

N3 1DH

CURRENT ASSETS

Debtors

3

138,603

104,955

Cash at bank and in hand

123,689

163,783

262,292

268,738

CREDITORS

Amounts falling due within one year

4

121,730

132,291

NET CURRENT ASSETS

140,562

136,447

TOTAL ASSETS LESS CURRENT LIABILITIES

140,562

136,447

CAPITAL AND RESERVES

Called up share capital

100

100

Profit and loss account

140,462

136,347

140,562

136,447

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 22 October 2018 and were signed on its behalf by:

D J K Iny - Director

1.	STATUTORY INFORMATION

Grovelands 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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 unless they are classified as receivable within one year in

which case they are measured at the undiscounted amount of the cash or other consideration expected to be received net

of impairment.

Financial liabilities that are classified as payable within one year are subsequently measured at the undiscounted amount of

the cash or other consideration expected to be paid.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable

right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset or settle the

liability simultaneously.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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

2,350

2,652

Other debtors

136,253

102,303

138,603

104,955

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Taxation and social security

5,922

7,583

Other creditors

115,808

124,708

121,730

132,291

5.	RELATED PARTY DISCLOSURES

During the year, total dividends of £21,000 were paid to the directors .

Included within other debtors is an amount of £136,253 due from Grovelands Investments Limited, a company under

common control. The loan is interest free with no stipulation as to repayment.