| The Reach Property Management Company Limited |
| Registered number: |
05107141 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
£ |
£ |
| Current assets |
| Debtors |
3 |
|
185,648 |
|
|
393,353 |
| Cash at bank and in hand |
|
|
875,337 |
|
|
1,863,120 |
|
|
|
1,060,985 |
|
|
2,256,473 |
|
| Creditors: amounts falling due within one year |
4 |
|
(192,748) |
|
|
(466,099) |
|
| Net current assets |
|
|
|
868,237 |
|
|
1,790,374 |
|
| Net assets |
|
|
|
868,237 |
|
|
1,790,374 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| General reserve |
5 |
|
|
312,956 |
|
|
309,065 |
| BSF Cladding reserve |
6 |
|
|
552,281 |
|
|
1,366,199 |
| Non-eligible remediation reserve |
9 |
|
|
- |
|
|
- |
| Fire door reserve |
7 |
|
|
- |
|
|
112,110 |
| Roof repair reserve |
8 |
|
|
3,000 |
|
|
3,000 |
|
|
| Shareholders' funds |
|
|
|
868,237 |
|
|
1,790,374 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime.. |
|
|
|
|
| P R Giles |
| Director |
| Approved by the board on 22 September 2025 |
|
| The Reach Property Management Company Limited |
| Notes to the Accounts |
| for the year ended 31 December 2024 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
The turnover and result before taxation is attributable to one activity, the supply of services to the flats at The Reach, 39 Leeds Street, Liverpool 3 and interest on any funds held on behalf of leaseholders. |
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
The company's main activities are mutual activities and any surplus arising therefrom is not chargeable to Corporation tax. Any non-mutual income eg. Interest received is subject to Corporation Tax at the current rate and charge of 19% has been provided in these accounts. |
|
|
|
|
| 2 |
Employees |
2024 |
|
2023 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Service charge arrears |
161,492 |
|
174,139 |
|
Prepayments |
|
13,801 |
|
204,698 |
|
Other debtors |
10,355 |
|
14,516 |
|
|
|
|
|
|
185,648 |
|
393,353 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Service charges received in advance |
137,806 |
|
217,497 |
|
Accruals |
46,596 |
|
246,040 |
|
Taxation and social security costs |
8,346 |
|
2,562 |
|
|
|
|
|
|
192,748 |
|
466,099 |
|
|
|
|
|
|
|
|
|
|
| 5 |
General reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January 2024 |
309,065 |
|
89,273 |
|
Budgeted contributions |
5,000 |
|
44,143 |
|
Interest received net of Corporation Tax |
4,834 |
|
9,589 |
|
Transfer to non-eligible remediation reserve |
- |
|
242,675 |
|
Net surplus/(deficit) |
24,011 |
|
(104,110) |
|
Adjustment for prior year legal & professional costs |
(1,080) |
|
27,495 |
|
Transfer from/(to) fire door reserve |
(18,338) |
|
- |
|
Repairs funded from reserves |
(10,536) |
|
- |
|
At 31 December 2024 |
312,956 |
|
309,065 |
|
|
|
|
|
|
|
|
|
| 6 |
BSF Cladding reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January 2024 |
1,366,199 |
|
271,953 |
|
BSF funding received |
- |
|
1,344,166 |
|
BSF Costs incurred |
(833,304) |
|
(222,790) |
|
Interest received net of Corporation Tax |
18,306 |
|
365 |
|
Adjustment for prior year legal & professional costs |
1,080 |
|
(27,495) |
|
|
|
At 31 December 2024 |
552,281 |
|
1,366,199 |
|
|
|
|
|
|
|
|
|
| 7 |
Fire door reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January 2024 |
112,110 |
|
- |
|
Budgeted contribution |
- |
|
112,110 |
|
Costs incurred |
(130,448) |
|
- |
|
Transfer from general reserve |
18,338 |
|
- |
|
|
|
|
|
|
|
- |
|
112,110 |
|
|
|
|
|
|
|
|
|
| 8 |
Roof repair reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
At 1 January 2024 |
3,000 |
|
- |
|
Budgeted contribution |
- |
|
3,000 |
|
|
|
|
|
|
|
3,000 |
|
3,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Non-eligible remediation reserve |
2024 |
|
2023 |
| £ |
£ |
|
|
Non-eligible reserve brought forward |
- |
|
1,985,870 |
|
Transfer to/from general reserves |
- |
|
(242,675) |
|
2022 Contributions refunded |
- |
|
(1,743,195) |
|
|
|
|
|
|
|
- |
|
- |
|
|
|
|
|
|
|
|
|
|
| 10 |
Other information |
|
|
The Reach Property Management Company Limited is a private company and incorporated in England. Its registered office is: |
|
116 Duke Street |
|
Liverpool |
|
L1 5JW |
|
| 11 |
Share capital |
|
|
The company is Limited by guarantee and does not have a share capital. Each member will contribute an amount not exceeding £1 should the company be wound up. |