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REGISTERED NUMBER: 01768248 (England and Wales)














Financial Statements

for the Year Ended 31 May 2024

for

Princes Park Mansions Management Co. Ltd

Princes Park Mansions Management Co. Ltd (Registered number: 01768248)

Contents of the Financial Statements
for the Year Ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Princes Park Mansions Management Co. Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Ms M C O'Carroll
Ms P Nolan
Ms S Cotter-Burgess
G M Burn
MISS F MCMath





SECRETARY: Ms M C O'Carroll





REGISTERED OFFICE: 7-11 Princes Park Mansion
Croxteth Road
Liverpool
Merseyside
L8 3SA





REGISTERED NUMBER: 01768248 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Princes Park Mansions Management Co. Ltd (Registered number: 01768248)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 78,943 70,677

CURRENT ASSETS
Debtors 5 9,347 11,631
Cash at bank and in hand 57,985 62,799
67,332 74,430
CREDITORS
Amounts falling due within one year 6 2,220 2,257
NET CURRENT ASSETS 65,112 72,173
TOTAL ASSETS LESS CURRENT LIABILITIES 144,055 142,850

CAPITAL AND RESERVES
Called up share capital 7 45 45
Maintenance Sinking Fund 3,606 3,606
Retained earnings 140,404 139,199
SHAREHOLDERS' FUNDS 144,055 142,850

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2024 and were signed on its behalf by:





Ms M C O'Carroll - Director


Princes Park Mansions Management Co. Ltd (Registered number: 01768248)

Notes to the Financial Statements
for the Year Ended 31 May 2024


1. STATUTORY INFORMATION

Princes Park Mansions Management Co. Ltd 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

The tangible fixed assets includes Freehold property which has been valued at its historic cost of £1.

Turnover
Turnover represents the amounts receivable from Flat Leaseholders for service and administration performed during the year.

Maintenance sinking fund
Regular amounts are set aside each year out of the maintenance charges received by the company for future repair costs. The fund is utilised to cover the costs of abnormal repairs or long term expenditure. The allocation of such items is decided by the directors. The accounts show the amount transferred to the fund in the year and the amount transferred from the fund for the purposes described.

Members contingency fund
Amounts are set aside in a contingency fund which can only be applied for purposes specifically agreed upon by the members in general meeting.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Princes Park Mansions Management Co. Ltd (Registered number: 01768248)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to Plant and and
property property machinery fittings Totals
£    £    £    £    £   
COST
At 1 June 2023 1 196,436 2,718 1,344 200,499
Additions - 24,107 - - 24,107
At 31 May 2024 1 220,543 2,718 1,344 224,606
DEPRECIATION
At 1 June 2023 - 126,988 1,670 1,164 129,822
Charge for year - 15,534 262 45 15,841
At 31 May 2024 - 142,522 1,932 1,209 145,663
NET BOOK VALUE
At 31 May 2024 1 78,021 786 135 78,943
At 31 May 2023 1 69,448 1,048 180 70,677

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 5,747 8,629
Other debtors 3,600 3,002
9,347 11,631

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 2,220 2,257

7. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
44 Ordinary share B £1 44 44
1 Ordinary share A £1 1 1
45 45

Princes Park Mansions Management Co. Ltd (Registered number: 01768248)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024


8. RELATED PARTY TRANSACTIONS

The company owns the freehold of Princes Park Mansions, Croxteth Road, Liverpool, L8 3SA and has granted 999 year leases to the flat leaseholders who each hold 1 "B" Ordinary Share in the company and consequently control the company.

The company is responsible for the maintenance of the flats leased by the shareholders, some of whom are also directors of the company.The total charges made by the company and the costs incurred are reflected in the profit and loss account. Any transactions with the directors as flat leaseholders have been conducted on the same basis as with the other shareholders.