Company Registration No. 03609368 (England and Wales)
PHILIP COURT MANAGEMENT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024
PHILIP COURT MANAGEMENT LIMITED
COMPANY INFORMATION
Directors
A Chapple
M McGlinn
Company number
03609368
Registered office
100 Winchmore Hill Road
Southgate
London
N14 6PX
PHILIP COURT MANAGEMENT LIMITED
CONTENTS
Page
Directors' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
PHILIP COURT MANAGEMENT LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 25 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the year ended 25 March 2024.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A Chapple
M McGlinn
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
A Chapple
Director
8 November 2024
PHILIP COURT MANAGEMENT LIMITED
BALANCE SHEET
AS AT
25 MARCH 2024
25 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
24,822
24,822
Current assets
-
-
Creditors: amounts falling due within one year
4
(24,813)
(24,813)
Net current liabilities
(24,813)
(24,813)
Net assets
9
9
Capital and reserves
Called up share capital
5
9
9

For the financial year ended 25 March 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 8 November 2024 and are signed on its behalf by:
A Chapple
Director
Company registration number 03609368 (England and Wales)
PHILIP COURT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 25 MARCH 2024
- 3 -
1
Accounting policies
Company information

Philip Court Management Limited is a private company limited by shares incorporated in England and Wales. The registered office is 100 Winchmore Hill Road, Southgate, London, N14 6PX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Profit and loss account

The company has not traded during the year or the preceding financial period. During this time, the company received no income and incurred no expenditure and therefore no Profit and loss account is presented in these financial statements.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
Nil

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments. Other Financial Instruments Issues of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, other loans and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received.

PHILIP COURT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6

Status

During the year the company has acted as agent for the lessees of the property at Philip Court, 89 Hornsey Lane, London. The funds in relation to the maintenance of the property are held in trust. As at 25 March 2024 the cash balance held on behalf of the lessees amounted to £3,741.

 

The company has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Philip Court Management Limited.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 26 March 2023 and 25 March 2024
24,822
Depreciation and impairment
At 26 March 2023 and 25 March 2024
-
0
Carrying amount
At 25 March 2024
24,822
At 25 March 2023
24,822
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,222
1,222
Other creditors
23,591
23,591
24,813
24,813
PHILIP COURT MANAGEMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 25 MARCH 2024
- 5 -
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
9
9
9
9
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