Coombs Property Management Limited 11847205 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is letting of investment property. Digita Accounts Production Advanced 6.30.9574.0 true 11847205 2024-04-01 2025-03-31 11847205 2025-03-31 11847205 bus:OrdinaryShareClass1 2025-03-31 11847205 core:OtherReservesSubtotal 2025-03-31 11847205 core:RetainedEarningsAccumulatedLosses 2025-03-31 11847205 core:ShareCapital 2025-03-31 11847205 core:SharePremium 2025-03-31 11847205 core:CurrentFinancialInstruments 2025-03-31 11847205 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 11847205 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 11847205 core:FurnitureFittingsToolsEquipment 2025-03-31 11847205 core:MotorVehicles 2025-03-31 11847205 bus:SmallEntities 2024-04-01 2025-03-31 11847205 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 11847205 bus:FullAccounts 2024-04-01 2025-03-31 11847205 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 11847205 bus:RegisteredOffice 2024-04-01 2025-03-31 11847205 bus:Director1 2024-04-01 2025-03-31 11847205 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 11847205 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 11847205 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 11847205 core:MotorVehicles 2024-04-01 2025-03-31 11847205 core:PlantMachinery 2024-04-01 2025-03-31 11847205 countries:EnglandWales 2024-04-01 2025-03-31 11847205 2024-03-31 11847205 core:FurnitureFittingsToolsEquipment 2024-03-31 11847205 core:MotorVehicles 2024-03-31 11847205 2023-04-01 2024-03-31 11847205 2024-03-31 11847205 bus:OrdinaryShareClass1 2024-03-31 11847205 core:OtherReservesSubtotal 2024-03-31 11847205 core:RetainedEarningsAccumulatedLosses 2024-03-31 11847205 core:ShareCapital 2024-03-31 11847205 core:SharePremium 2024-03-31 11847205 core:CurrentFinancialInstruments 2024-03-31 11847205 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11847205 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 11847205 core:FurnitureFittingsToolsEquipment 2024-03-31 11847205 core:MotorVehicles 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11847205

Coombs Property Management Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Coombs Property Management Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Coombs Property Management Limited

(Registration number: 11847205)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

7,670

14,339

Investment property

5

6,569,979

6,745,660

 

6,577,649

6,759,999

Current assets

 

Debtors

6

13,000

17,317

Cash at bank and in hand

 

179,231

19,111

 

192,231

36,428

Creditors: Amounts falling due within one year

7

(2,001,723)

(1,313,156)

Net current liabilities

 

(1,809,492)

(1,276,728)

Total assets less current liabilities

 

4,768,157

5,483,271

Creditors: Amounts falling due after more than one year

7

(1,690,050)

(2,408,963)

Provisions for liabilities

(41,918)

(43,056)

Net assets

 

3,036,189

3,031,252

Capital and reserves

 

Called up share capital

9

10,102

10,102

Share premium reserve

2,832,737

2,832,737

Other reserves

120,000

120,000

Profit and loss account

73,350

68,413

Shareholders' funds

 

3,036,189

3,031,252

For the financial year ending 31 March 2025 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.

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 Profit and Loss Account.

Approved and authorised by the Board on 26 June 2025 and signed on its behalf by:
 



 

Mr A P Coombs
Director

 

Coombs Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 Water Eaton Lane
Penkridge
Stafford
ST19 5QE

2

Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention 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.

The presentation currency is sterling.

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.

Going concern
The financial statements have been prepared on a going concern basis.

Revenue recognition
Turnover comprises rental income received or receivable in the ordinary course of the company's activities.

The company recognises revenue when:

The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities

Tax

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost, less any subsequent accumulated depreciation and accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Coombs Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

25% straight line

Plant and equipment

25% straight line

Investment property

Investment property is measured at fair value at each reporting date with changes in fair value recognised in the profit and loss account.

Defined contribution pension obligation

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Cash
Cash comprises cash on hand and all deposits.

Debtors
Debtors are amounts due from tenants for rent receivable and other associated letting fees in the ordinary course of the business.

Debtors are recognised at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from 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.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company during the year was 0 (2024 - 0).

 

Coombs Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Plant and equipment
 £

Motor vehicles
 £

Total
£

Cost

At 1 April 2024

27,699

5,500

33,199

At 31 March 2025

27,699

5,500

33,199

Depreciation

At 1 April 2024

16,110

2,750

18,860

Charge for the year

5,294

1,375

6,669

At 31 March 2025

21,404

4,125

25,529

Net book value

At 31 March 2025

6,295

1,375

7,670

At 31 March 2024

11,589

2,750

14,339

5

Investment property

2025
£

2024
£

At 1 April

6,745,660

6,745,660

Disposals

(175,681)

-

At 31 March

6,569,979

6,745,660

The directors have reviewed the market value of the properties using current market data for similar properties in the same areas and consider that there is no significant change at the balance sheet date.

6

Debtors

2025
£

2024
£

Trade debtors

3,212

8,157

Prepayments

9,788

9,160

13,000

17,317

 

Coombs Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Bank loans

-

7,128

Trade creditors

1,008

2,072

Taxation and social security

2,323

-

Other creditors

14,947

22,213

Other loans

1,918,031

1,194,163

Accruals

65,414

87,580

2,001,723

1,313,156

Creditors include bank loans which are secured against the investment properties of £nil (2024 - £7,128) .

Creditors: amounts falling due after more than one year

2025
£

2024
£

Bank loans

1,690,050

2,408,963

1,690,050

2,408,963

Creditors include bank loans which are secured against the investment properties of £1,690,050 (2024 - £2,408,963) of which £nil (2024 - £66,909 ) is repayable by instalments after more than five years and £1,690,050 (2024 - £2,119,629) is repayable other than by instalments after more than five years.

8

Related party transactions

Directors loan

The directors provided the company with a loan on which interest was charged at a market rate.
 

 

Coombs Property Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

10,002

10,002

10,002

10,002

Ordinary A shares of £0.01 each

4,954

49.54

4,954

49.54

Ordinary B shares of £0.01 each

4,896

48.96

4,896

48.96

Ordinary C shares of £0.01 each

10

0.10

10

0.10

Ordinary D shares of £0.01 each

10

0.10

10

0.10

Ordinary E shares of £0.01 each

10

0.10

10

0.10

Ordinary F shares of £0.01 each

10

0.10

10

0.10

Ordinary G shares of £0.01 each

10

0.10

10

0.10

Ordinary H shares of £0.01 each

10

0.10

10

0.10

Ordinary I shares of £0.01 each

10

0.10

10

0.10

Ordinary J shares of £0.01 each

10

0.10

10

0.10

Ordinary K shares of £0.01 each

10

0.10

10

0.10

Ordinary L shares of £0.01 each

10

0.10

10

0.10

Ordinary M shares of £0.01 each

10

0.10

10

0.10

Ordinary N shares of £0.01 each

10

0.10

10

0.10

Ordinary O shares of £0.01 each

10

0.10

10

0.10

Ordinary P shares of £0.01 each

10

0.10

10

0.10

Ordinary Q shares of £0.01 each

10

0.10

10

0.10

 

20,002

10,102.00

20,002

10,102.00