REGISTERED NUMBER: 02668432 (England and Wales)

Unaudited Financial Statements

for the Year Ended 25th December 2024

for

MARLBOROUGH KNIGHTSBRIDGE MANAGEMENT

LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

L P Cardno

C A Fairlamb

R G H Noel

D P Rickards

N Rimmer

D Galloway

J M Sheridan

REGISTERED OFFICE:

Strangford Residence Management

46 New Broad Steet

London

EC2M 1JH

REGISTERED NUMBER:

02668432 (England and Wales)

ACCOUNTANTS:

SWP Service Charge Accountants Limited

Chartered Accountants

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

FIXED ASSETS

Investment property

4

1,254,067

1,304,382

CURRENT ASSETS

Debtors

5

64,160

78,384

Cash in hand

695,699

558,079

759,859

636,463

CREDITORS

Amounts falling due within one year

6

176,562

77,926

NET CURRENT ASSETS

583,297

558,537

TOTAL ASSETS LESS CURRENT LIABILITIES

1,837,364

1,862,919

PROVISIONS FOR LIABILITIES

246,453

246,453

NET ASSETS

1,590,911

1,616,466

CAPITAL AND RESERVES

Called up share capital

130

130

Share premium

7

76,836

76,836

Other reserves

7

1,052,941

1,096,001

Retained earnings

7

461,004

443,499

SHAREHOLDERS' FUNDS

1,590,911

1,616,466

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 25th December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 25th December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18th August 2025 and were signed on its behalf by:

C A Fairlamb - Director

1.	STATUTORY INFORMATION

Marlborough Knightsbridge Management Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover comprises ground rent and other rent receivable in respect of the property owned by the company.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Investment property is carried at fair value determined annually by the directors and derived from the current market values, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Sale of lease extension

The company recognises the income on the sale of lease extensions at completion. Net proceeds in excess of the resulting reduction in the carrying value of the property is included in Other Operating Income. A transfer is made from the revaluation reserve to the profit and loss account in the reserve note for the difference between the carrying value of the leases and the historic cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 26th December 2023

1,304,382

Disposals

(50,315

)

At 25th December 2024

1,254,067

NET BOOK VALUE

At 25th December 2024

1,254,067

At 25th December 2023

1,304,382

Cost or valuation at 25th December 2024 is represented by:

£

Valuation in 2023

1,218,398

Cost

35,669

1,254,067

If the freehold property had not been revalued it would have been included at the following historical cost:

2024

2023

£

£

Cost

35,669

42,924

The freehold property was valued on an open market basis on 25th December 2024 by the Directors. .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,897

2,266

Other debtors

62,263

76,118

64,160

78,384

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

13,910

-

Tax

351

-

Accrued expenses

162,301

77,926

176,562

77,926

7.

RESERVES

Other reserves include a loan of £80,996 (2023 - £80,996) repayable at the discretion of the company, made by the tenants to finance the purchase of the common areas of the building. The remainder of the balance represents the fair value movement on the investment property under FRS 102, net of the associated deferred tax.

8.	RELATED PARTY DISCLOSURES

Included in other debtors at the date of the Statement of Financial Position is £62,263 due from the property service fund (2023 - £76,118), which is related by virtue of the company's shareholders' interest in the service charge fund.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Marlborough Knightsbridge Management Limited for the year ended 25th December 2024 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Marlborough Knightsbridge Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Marlborough Knightsbridge Management Limited and state those matters that we have agreed to state to the Board of Directors of Marlborough Knightsbridge Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Marlborough Knightsbridge Management Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Marlborough Knightsbridge Management Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Marlborough Knightsbridge Management Limited. You consider that Marlborough Knightsbridge Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Marlborough Knightsbridge Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

SWP Service Charge Accountants Limited

Chartered Accountants

3rd Floor, Suffolk House

George Street

Croydon

CR0 0YN

11th September 2025