Company Registration No. 10798652 (England and Wales)
PHOENIX COURT (NEW BARNET) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTS FOR FILING WITH REGISTRAR
PHOENIX COURT (NEW BARNET) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PHOENIX COURT (NEW BARNET) LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
47,200
47,200
Current assets
Debtors
4
250
250
Cash at bank and in hand
1,533
899
1,783
1,149
Creditors: amounts falling due within one year
5
(1,506)
(837)
Net current assets
277
312
Total assets less current liabilities
47,477
47,512
Reserves
Freehold contribution reserve
47,200
47,200
Income and expenditure account
277
312
Members' funds
47,477
47,512

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

For the financial year ended 31 December 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.

The financial statements were approved by the board of directors and authorised for issue on 8 May 2025 and are signed on its behalf by:
G Zacharia
Director
Company Registration No. 10798652
PHOENIX COURT (NEW BARNET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Phoenix Court (New Barnet) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 217 Chase Side, London, N14 5LE.

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. The principal accounting policies adopted are set out below.

1.2
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Nil

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.3
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 balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and other loans are initially recognised at transaction price.

1.4

Status

During the year the company has acted as agent for the lessees of the property at Phoenix Court, 29 Station Road, New Barnet EN5 1PH. The funds in relation to the maintenance of the property are held in trust. As at 31 December 2024 the cash balance held on behalf of the lessees amounted to £1,093.

 

The Company therefore reports no income or expenditure in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and not filed at Companies House. The accounts can be obtained from Phoenix Court (New Barnet) Limited.

PHOENIX COURT (NEW BARNET) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
3
Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
47,200
Depreciation and impairment
At 1 January 2024 and 31 December 2024
-
0
Carrying amount
At 31 December 2024
47,200
At 31 December 2023
47,200
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
250
250
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
7
Other creditors
1,506
830
1,506
837
6
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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