Registered number:
(A Company Limited by Guarantee)
FOR THE YEAR ENDED 25 DECEMBER 2018
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
COMPANY INFORMATION
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
CONTENTS
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT
FOR THE YEAR ENDED 25 DECEMBER 2018
The Directors present their Report and the financial statements for the year ended 25 December 2018.
The Directors who served during the year were:
The Directors are responsible for preparing the Directors' Report and the
financial statements in accordance with applicable law and regulations.
Company law requires the Directors to prepare financial statements for each financial year
. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the Directors are required to:
∙
select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙
make judgments and accounting estimates that are reasonable and prudent;
∙
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the Company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements and other information included in Directors' Reports may differ from legislation in other jurisdictions.
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 25 DECEMBER 2018
Each of the persons who are
Directors at the time when this Directors' Report is approved has confirmed that:
There have been no significant events affecting the Company since the year end.
The Auditors, Price Bailey LLP, will be proposed for reappointment in accordance with
section 485 of the Companies Act 2006.
This Report was approved by the Board on
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF GARRICK HOUSE MANAGEMENT LIMITED
We have audited the financial statements of Garrick House Management Limited (the 'Company') for the year ended 25 December 2018, which comprise the Profit and Loss Account, the Balance Sheet
and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards,
including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our Report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
∙
the Directors
' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
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the Directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
The Directors are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Auditors' Report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our Report, we do not express any form of assurance conclusion thereon.
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF GARRICK HOUSE MANAGEMENT LIMITED (CONTINUED)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙
the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙
the Directors' Report has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
As explained more fully in the Directors' Responsibilities Statement on page 1, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS, AS A BODY, OF GARRICK HOUSE MANAGEMENT LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities
. This description forms part of our Auditors' Report.
This Report is made solely to the Company's Members, as a body,
in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's Members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's Members, as a body, for our audit work, for this Report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditors
Causeway House
1 Dane Street
Hertfordshire
CM23 3BT
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 25 DECEMBER 2018
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
REGISTERED NUMBER:
00949381
BALANCE SHEET
AS AT
25 DECEMBER 2018
The financial statements were approved and authorised for issue by the Board and were signed on its behalf by
:
The notes on page 8 form part of these financial statements.
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GARRICK HOUSE MANAGEMENT LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 DECEMBER 2018
The Company is a private company limited by guarantee and is incorporated in England. The address of its registered office is detailed on the company information page.
2.
Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
Under the terms of their leases the costs of the Company's activities in managing and maintaining Garrick House are met in full by the lessees and the Landlord and accordingly the Company makes neither a profit nor loss on its activities.
The service charge contributions paid by the lessees towards the Company's costs are held by the Company for the lessees' benefit in accordance with Section 42 of the Landlord and Tenant Act 1987. The Company has no beneficial interest in these funds and consequently have been excluded from these accounts.
These accounts reflects the best practice advised in Technical release 03/11 Accounting for Service Charges, prepared by ICAEW together with ARMA and RICS. The affairs of the service charge, and its assets and liabilities, belong to the statutory trust, established by section 42 of the LTA 1987, and not Garrick House Management Limited. Therefore the Company accounts reflect only the assets and liabilities of the Company.
Service charge accounts for Garrick House have been prepared separately.
The Company is a private company limited by guarantee and consequently does not have share capital. Each of the Members is liable to contribute an amount not exceeding £1 towards the assets of the Company in the event of liquidation.
The Company is controlled by the Members.
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