New Colebrooke Court Management Limited 01753417 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is is that of the management of the freehold property known as New Colebrooke Court. The company does not trade with the view to profit Digita Accounts Production Advanced 6.30.9574.0 true true 01753417 2023-04-01 2024-03-31 01753417 2024-03-31 01753417 bus:OrdinaryShareClass1 2024-03-31 01753417 core:RetainedEarningsAccumulatedLosses 2024-03-31 01753417 core:ShareCapital 2024-03-31 01753417 core:CurrentFinancialInstruments 2024-03-31 01753417 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 01753417 core:LandBuildings 2024-03-31 01753417 bus:SmallEntities 2023-04-01 2024-03-31 01753417 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 01753417 bus:FullAccounts 2023-04-01 2024-03-31 01753417 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 01753417 bus:RegisteredOffice 2023-04-01 2024-03-31 01753417 bus:CompanySecretary1 2023-04-01 2024-03-31 01753417 bus:Director2 2023-04-01 2024-03-31 01753417 bus:Director4 2023-04-01 2024-03-31 01753417 bus:Director5 2023-04-01 2024-03-31 01753417 bus:Director6 2023-04-01 2024-03-31 01753417 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 01753417 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01753417 core:LandBuildings 2023-04-01 2024-03-31 01753417 countries:EnglandWales 2023-04-01 2024-03-31 01753417 core:LandBuildings 2023-03-31 01753417 2022-04-01 2023-03-31 01753417 2023-03-31 01753417 bus:OrdinaryShareClass1 2023-03-31 01753417 core:RetainedEarningsAccumulatedLosses 2023-03-31 01753417 core:ShareCapital 2023-03-31 01753417 core:CurrentFinancialInstruments 2023-03-31 01753417 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 01753417 core:LandBuildings 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01753417

New Colebrooke Court Management Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

New Colebrooke Court Management Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Unaudited Financial Statements

3 to 6

 

New Colebrooke Court Management Limited

Company Information

Directors

G Brownrigg

J E Lane

S P Russ

P E Wright

Company secretary

CECPM Limited

Registered office

15 Stoneleigh Crescent
Epsom
Surrey
KT19 0RT

Accountants

Service Charge Assurance Limited
Chartered Accountants
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA

 

New Colebrooke Court Management Limited

(Registration number: 01753417)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Non-current assets

 

Property, plant and equipment

4

1

1

Current assets

 

Receivables

5

22,113

47,317

Cash at bank

6

46,730

43,862

 

68,843

91,179

Payables: Amounts falling due within one year

7

(4,083)

(36,224)

Net current assets

 

64,760

54,955

Net assets

 

64,761

54,956

Equity

 

Called up share capital

9

24

24

Revenue reserve

9

64,737

54,932

Shareholders' funds

 

64,761

54,956

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income statement.

The financial statements of New Colebrooke Court Management Limited were approved and authorised for issue by the Board on 19 February 2025 and signed on its behalf by:
 

.........................................

G Brownrigg
Director

 

New Colebrooke Court Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

New Colebrooke Court Management Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.

2

Accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Departure from Companies Act requirements

The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment period.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

 

New Colebrooke Court Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Revenue recognition

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. Service charge income represents variable service charges receivable from the leaseholders for the year.

Tax

The company acts as a trustee in respect of funds held to manage New Colebrooke Court. In consequence, service charge income and service charge expenditure items are neither taxable nor allowable for corporation tax purposes and therefore there is no liability to UK corporation tax.

Property, plant and equipment

Property, plant and equipment represents freehold land which is stated at a nominal value of £1. No depreciation is provided on this.

Asset class

Depreciation method and rate

Freehold land

Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Receivables

Service charge arrears are amounts due at the financial year end from the leaseholders.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from contractors and suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

 

New Colebrooke Court Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Property, plant and equipment

Land and buildings
£

Cost or valuation

At 1 April 2023

1

At 31 March 2024

1

Carrying amount

At 31 March 2024

1

At 31 March 2023

1

5

Receivables

Current

2024
£

2023
£

Service charge arrears

14,567

12,652

Service charge arrears (in respect of advance demands)

-

32,037

Prepayments & accrued income

7,546

2,628

 

22,113

47,317

6

Cash and cash equivalents

2024
£

2023
£

Cash at bank

46,730

43,862

Service charge monies are held in trust in a designated client account at Metro Bank Plc under the title CECPM Limited Client Account New Colebrooke Court.

 

New Colebrooke Court Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024 (continued)

7

Payables

Payables: amounts falling due within one year

2024
£

2023
£

Due within one year

Other payables

112

112

Accrued expenses

3,971

3,309

Deferred income - advanced service charge demands

-

32,803

4,083

36,224

8

Reserves

The revenue reserve represents cumulative surpluses or deficits.
 

9

Share capital and reserves

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

24

24

24

24