Company Registration No. 10781177 (England and Wales)
George Street Mansions Limited
Unaudited accounts
for the year ended 31 May 2021
George Street Mansions Limited
Statement of financial position
as at 31 May 2021
Called up share capital not paid
(8,000)
(8,000)
Cash at bank and in hand
719,597
27
Creditors: amounts falling due within one year
(719,597)
(27)
Called up share capital
8,000
8,000
Shareholders' funds
8,000
8,000
For the year ending 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 August 2021 and were signed on its behalf by
VJ Stevens
Director
Company Registration No. 10781177
George Street Mansions Limited
Notes to the Accounts
for the year ended 31 May 2021
George Street Mansions Limited is a private company, limited by shares, registered in England and Wales, registration number 10781177.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2021 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2019.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
4
Creditors: amounts falling due within one year
2021
2020
Other creditors
719,597
27
5
Post balance sheet events
On 22nd July 2021 the Company adopted new Articles of Association and increased the Authorised Share Capital from 8,000 Ordinary Share of £1 each to £12,000 shares comprised of 8,000 Ordinary Shares of £1 each, 2,000 'A' Shares of £1 each and 2,000 'B' Shares of £1 each. On the same date, the existing shareholders of the 8,000 Ordinary Shares gifted their unpaid Ordinary Shares to the Company, 836 'A' Shares were issued to the Participants in the purchase of the freehold of George Street Mansions and 259 'B' Shares were issued to the Underwriters for the purchase of the Non-Participants interest in the freehold of George Street Mansions. The total amount paid for the 'A' and 'B' Shares equated to the cost of the freehold plus professional and legal fees. On 12th August 2021 the Company completed the purchase of the freehold of George Street Mansions. The Company is in the process of granting 999 year leases in George Street Mansions to each Participant in the purchase of the freehold.
6
Average number of employees
During the year the average number of employees was 0 (2020: 0).
