Company Registration No. 09023827 (England and Wales)
Lightridge House Management Company Limited
Unaudited financial statements
for the year ended 30 March 2024
Pages for filing with the registrar
Lightridge House Management Company Limited
Contents
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
Lightridge House Management Company Limited
Statement of financial position
As at 30 March 2024
30 March 2024
1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
100,000
100,000
Current assets
Debtors
4
49,991
49,774
Cash at bank and in hand
-
0
92
49,991
49,866
Creditors: amounts falling due within one year
5
(21,999)
(15,928)
Net current assets
27,992
33,938
Total assets less current liabilities
127,992
133,938
Creditors: amounts falling due after more than one year
6
(41,731)
(43,971)
Net assets
86,261
89,967
Capital and reserves
Called up share capital
3
3
Revaluation reserve
96,964
96,964
Profit and loss reserves
(10,706)
(7,000)
Total equity
86,261
89,967

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 30 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

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.

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

Lightridge House Management Company Limited
Statement of financial position (continued)
As at 30 March 2024
30 March 2024
2
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
C J Shenton
Director
Company Registration No. 09023827
Lightridge House Management Company Limited
Statement of changes in equity
For the year ended 30 March 2024
3
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 April 2022
3
96,964
(1,594)
95,373
Year ended 30 March 2023:
Loss and total comprehensive income
-
-
(5,406)
(5,406)
Balance at 31 March 2022 (as restated)
3
96,964
(7,000)
89,967
Year ended 30 March 2024:
Loss and total comprehensive income
-
-
(3,706)
(3,706)
Balance at 30 March 2024
3
96,964
(10,706)
86,261
Lightridge House Management Company Limited
Notes to the financial statements
For the year ended 30 March 2024
4
1
Accounting policies
Company information

Lightridge House Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is Shenton House, 3 Oxford Court, Manchester, M2 3WQ.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Tangible fixed assets

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are due to the directors' valuation and are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Lightridge House Management Company Limited
Notes to the financial statements (continued)
For the year ended 30 March 2024
1
Accounting policies (continued)
5
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, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (excluding non-remunerated directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost or valuation
At 1 April 2023 and 30 March 2024
100,000
Revaluation
At 1 April 2023 and 30 March 2024
-
0
Fair value
At 30 March 2024
100,000
At 30 March 2023
100,000
Lightridge House Management Company Limited
Notes to the financial statements (continued)
For the year ended 30 March 2024
6
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
49,991
49,774

Included within other debtors is £49,000 (2023: £49,000) due from other related parties, as detailed in the related party note.

 

5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,240
6,865
Trade creditors
1,025
-
0
Amounts owed to group undertakings
14,483
6,072
Other creditors
4,251
2,991
21,999
15,928

Included within other creditors is £850 (2023: £Nil) due to other related parties, as detailed in the related party note.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
41,731
43,971
7
Related party transactions
2024
2023
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
14,483
6,072
Other related parties
850
-
2024
2023
Amounts due from related parties
£
£
Other related parties
49,000
49,000
Lightridge House Management Company Limited
Notes to the financial statements (continued)
For the year ended 30 March 2024
7
8
Parent company

Lightridge House Management Company Limited is wholly owned subsidiary of Shenton Property Ltd.

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