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COMPANY REGISTRATION NUMBER: 01388412
COTTESMORE COURT MANAGEMENT COMPANY LIMITED
FILLETED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2024
COTTESMORE COURT MANAGEMENT COMPANY LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2024
CONTENTS
PAGE
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
COTTESMORE COURT MANAGEMENT COMPANY LIMITED
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
S Adde
M E Simpson
P J Maitland
G A Afshar
L Milne-Tyte
A Al-Sarraf
Company secretary
Mrs L Milne-Tyte
Registered office
106-107 Dowgate Hill House
14-16 Dowgate Hill
London
EC4R 2SU
Auditor
Colne Valley Business Services LLP t/a Cloke & Co
Chartered Certified Accountants & statutory auditor
106-107 Dowgate Hill House
14-16 Dowgate Hill
London
EC4R 2SU
COTTESMORE COURT MANAGEMENT COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
£
FIXED ASSETS
Tangible assets
4
40,177
40,177
Investments
5
1
1
--------
--------
40,178
40,178
CURRENT ASSETS
Debtors
6
54,263
78,568
Cash at bank and in hand
30,404
10,573
--------
--------
84,667
89,141
CREDITORS: amounts falling due within one year
7
4,500
9,475
--------
--------
NET CURRENT ASSETS
80,167
79,666
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
120,345
119,844
---------
---------
NET ASSETS
120,345
119,844
---------
---------
CAPITAL AND RESERVES
Called up share capital
67
67
Profit and loss account
120,278
119,777
---------
---------
SHAREHOLDERS FUNDS
120,345
119,844
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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 were approved by the board of directors and authorised for issue on 23 May 2024 , and are signed on behalf of the board by:
M E Simpson
G A Afshar
Director
Director
Company registration number: 01388412
COTTESMORE COURT MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 106-107 Dowgate Hill House, 14-16 Dowgate Hill, London, EC4R 2SU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
BASIS OF PREPARATION
Following the issuing of Lessee Advisory Note 08/08 by the Association of Residential Managing Agents, the Board decided to adopt their recommendations regarding the treatment of service charge income and expenditure with effect from the accounts prepared for the year ended 31st March 2010.
OTHER OPERATING INCOME
The company derives income from the renting out of lockers, store rooms and garages owned by the company to tenants of the property. It also receives income from ground rents.
CONSOLIDATION
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
TANGIBLE ASSETS
Freehold property represents the reversionary interest in Cottesmore Court after the sale of long leases to the lessees. In the opinion of the directors, any depreciation of the buildings is immaterial.
INVESTMENTS
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
IMPAIRMENT OF FIXED ASSETS
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. TANGIBLE ASSETS
Freehold property
£
Cost
At 1st April 2023 and 31st March 2024
40,177
--------
Carrying amount
At 31st March 2024
40,177
--------
At 31st March 2023
40,177
--------
5. INVESTMENTS
Shares in group undertakings
£
Cost
At 1st April 2023 and 31st March 2024
1
----
Impairment
At 1st April 2023 and 31st March 2024
----
Carrying amount
At 31st March 2024
1
----
At 31st March 2023
1
----
6. DEBTORS
2024
2023
£
£
Trade debtors
51,713
58,802
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,550
19,766
--------
--------
54,263
78,568
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Trade creditors
5,875
Other creditors
4,500
3,600
-------
-------
4,500
9,475
-------
-------
8. SUMMARY AUDIT OPINION
The auditor's report dated 31 May 2024 was unqualified .
The senior statutory auditor was Jonathon D R Holt BA FCCA , for and on behalf of Colne Valley Business Services LLP t/a Cloke & Co .
9. RELATED PARTY TRANSACTIONS
In the opinion of the directors there is no ultimate controlling party. During the year the company received rent in the ordinary course of business from its subsidiary undertaking, Cottesmore Court (Garage) Limited amounting to £54,500 (2023 - £56,000). At the year end the company was owed by its subsidiary undertaking £2,550 (2023 - £19,766). A director of Cottesmore Court (Garage) Limited, is also a director of Cottesmore Court Management Company Limited.