Registered number
02578951
P.C. Fulham Managements Limited
Filleted Accounts
31 December 2024
P.C. Fulham Managements Limited
Registered number: 02578951
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 47,075 47,592
Current assets
Debtors 4 60 60
Net current assets 60 60
Net assets 47,135 47,652
Capital and reserves
Called up share capital 60 60
Profit and loss account 47,075 47,592
Shareholders' funds 47,135 47,652
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. The profit and loss account has not been delivered to the Registrar of Companies.
Ija Nnachi
Director
Approved by the board on 24 September 2025
P.C. Fulham Managements 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 Company is not a trading Company as all revenue is contributed by the leaseholders and the Company merely acts as managing agent and trustee over those funds on behalf of the leaseholders. A separate accounts for service charges are being prepared from 2023 and onwards.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2024 60,000
At 31 December 2024 60,000
Depreciation
At 1 January 2024 12,408
Charge for the year 517
At 31 December 2024 12,925
Net book value
At 31 December 2024 47,075
At 31 December 2023 47,592
The property comprises a long leasehold flat at Parkview Court. The freehold interest in the property known as Parkview Court, London SW6 is owned by Freehold Managers (Nominees) Limited.
4 Debtors 2024 2023
£ £
Other debtors 60 60
5 Controlling party
The company is under the common control of the shareholders.
6 Other information
P.C. Fulham Managements Limited is a private company limited by shares and incorporated in England. Its registered office is:
Parkview Court
38 Fulham High Street
London
SW6 3LP
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