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Registered number: 02696416
Sycamore Court Limited
Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Company Information 1
Balance Sheet 2
Notes to the Financial Statements 3—5
Page 1
Company Information
Directors I Fortune
P Murrell
G Wringe
L Mollan
J Knowles
Secretary D Mayhew
Company Number 02696416
Registered Office Sycamore Court
Hoskins Road
Oxted
Surrey
RH8 9JQ
Accountants McKenzies ATS Ltd
2 Station Road West
Oxted
Surrey
RH8 9EP
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Balance Sheet
Registered number: 02696416
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 336,925 336,925
336,925 336,925
CURRENT ASSETS
Stocks 5 2,200 2,160
Debtors 6 9,666 8,483
Cash at bank and in hand 79,452 118,693
91,318 129,336
Creditors: Amounts Falling Due Within One Year 7 (23,366 ) (20,636 )
NET CURRENT ASSETS (LIABILITIES) 67,952 108,700
TOTAL ASSETS LESS CURRENT LIABILITIES 404,877 445,625
NET ASSETS 404,877 445,625
CAPITAL AND RESERVES
Called up share capital 8 35 35
Profit and Loss Account 404,842 445,590
SHAREHOLDERS' FUNDS 404,877 445,625
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P Murrell
Director
23rd September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Sycamore Court Limited (02696416) is a private company limited by shares incorporated in England and Wales. The company acts as a Residents Management Company in respect of the Sycamore Court property, which is a development of 35 privately owned retirement apartments. The company provides retirement apartment management and domestic services to the owners of the leasehold properties situated at Sycamore Court, Hoskins Road, Oxted, Surrey.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Income represents the total amount receivable by the company during the year for services provided.
Incoming resources in respect of service charges receivable and transfer premiums is recognised in accordance with the conditions of  the leases.
2.3. Tangible Fixed Assets and Depreciation
Fixed assets consist of the freehold property, Sycamore Court, which was acquired by the company on the 16th September 2005. The directors consider the useful economic life of the property to be at least 50 years. In accordance with FRS 102 depreciation is ordinarily recognised so as to write off the costs of a property, less its residual value, over its useful economic life. The directors have assessed that the residual value of the property, based on the current market conditions, is likely to be sufficiently high such that depreciation is immaterial to be provided for within these financial statements.
Freehold Nil
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
2.5. Taxation
Service charge monies are held on trust in accordance with section 42, Landlord and Tenant Act 1987. Interest earned on service charge monies held on deposit is taxable at the basic rate of income tax. The tax rate applied to interest received during the year was 19% (2023 - 19%).
2.6. Pensions
The company makes payments to a defined contribution pension scheme on behalf of its employees. The assets of the scheme are held separately from those of the company. The contributions payable to the defined contribution pension are charged to the income and expenditure account as they are incurred.
2.7. Reserve Funds
The fund for future maintenance has been established to provide funds to meet the costs of future major repairs and scheduled maintenance works to the property. The fund for future maintenance covers any deficit resulting from excess expenditure incurred and charged to the Income and Expenditure account during a year. Any surplus of income over expenditure during a year is taken to the fund for future maintenance to cover expected future costs of maintaining the property.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 18 (2023: 17)
18 17
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4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 336,925
As at 31 March 2024 336,925
Net Book Value
As at 31 March 2024 336,925
As at 1 April 2023 336,925
5. Stocks
2024 2023
£ £
Finished goods 2,200 2,160
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 3,670 4,556
Other debtors 5,996 3,927
9,666 8,483
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,580 1,149
Other creditors 16,494 15,210
Taxation and social security 5,292 4,277
23,366 20,636
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 35 35
9. Reserves
The fund for future maintenance has been established to provide funds to meet the costs of future major repairs and scheduled maintenance works to the property. The fund for future maintenance covers any deficit resulting from excess expenditure incurred and charged to the Income and Expenditure account during a year. Any surplus of income over expenditure during a year is taken to the fund for future maintenance to cover expected future costs of maintaining the property.
10. FRC's Ethical Standard - Provision Available for Small Entities
In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.
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11. Audit Information
The auditors report on the account of Sycamore Court Limited for the year ended 31 March 2024 was unqualified
The auditor's report was signed by C E McCoy (Senior Statutory Auditor) for and on behalf of McKenzies Chartered Accountants , Statutory Auditor
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