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COMPANY REGISTRATION NUMBER: 01637629
TOL PEDN MANAGEMENT LIMITED
Filleted Unaudited Abridged Financial Statements
31 July 2024
TOL PEDN MANAGEMENT LIMITED
Abridged Statement of Financial Position
31 July 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
1
1
Current assets
Debtors
60
Cash at bank and in hand
16,413
8,027
--------
-------
16,473
8,027
Creditors: amounts falling due within one year
16,454
8,008
--------
-------
Net current assets
19
19
----
----
Total assets less current liabilities
20
20
----
----
Net assets
20
20
----
----
Capital and reserves
Called up share capital
20
20
----
----
Shareholders funds
20
20
----
----
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 July 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2024 in accordance with Section 444(2A) of the Companies Act 2006.
TOL PEDN MANAGEMENT LIMITED
Abridged Statement of Financial Position (continued)
31 July 2024
These abridged financial statements were approved by the board of directors and authorised for issue on 25 April 2025 , and are signed on behalf of the board by:
Mrs S A Brooks
Director
Company registration number: 01637629
TOL PEDN MANAGEMENT LIMITED
Notes to the Abridged Financial Statements
Year ended 31 July 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 8 Tol Pedn, Headland Road, Carbis Bay, St Ives, Cornwall, TR26 2NS.
2. Statement of compliance
These abridged 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
There are 18 properties in the development known as Tol Pedn, Headland Road, Carbis Bay, St Ives, Cornwall. As tenants purchase the lease of the property, they acquire a share in the company. The owners of Tol Pedn House also hold 2 shares, but do not contribute to the maintenance fund and the company is not responsible for the provision of maintenance services.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be 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
£
Cost
At 1 August 2023 and 31 July 2024
1
----
Depreciation
At 1 August 2023 and 31 July 2024
----
Carrying amount
At 31 July 2024
1
----
At 31 July 2023
1
----
5. Service charge account
The service charge account is made up as follows:
6. Related party transactions
The company was under the control of the shareholders acting in concert throughout the current and previous year.