Registration number:
The Drive Mansions Limited
for the Year Ended 31 March 2025
The Drive Mansions Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
The Drive Mansions Limited
Company Information
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Directors |
Mr Anthony Christopher Trouncer Downes Ms Tracey Jane Spencer Henderson Mr Robert Victor Kingdom Mr Hari Voyantzis |
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Company secretary |
Mr James Andrew Cordell |
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Registered office |
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Auditors |
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The Drive Mansions Limited
(Registration number: 04167401)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
105 |
105 |
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Shareholders' funds |
105 |
105 |
Approved and authorised by the
Director
The Drive Mansions Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
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.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
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Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
The Drive Mansions Limited
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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2 |
Accounting policies (continued) |
Amounts held on behalf of lessees
Amounts held on behalf of lessees 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.
Amounts held on behalf of lessees are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 April 2024 |
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At 31 March 2025 |
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Depreciation |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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The freehold interest in the property is owned by The Drive Mansions Limited a company incorporated in England whose registered number is 04167401. The freehold was acquired during the period ended 31st March 2003 for £100 and is stated at cost on the balance sheet.
The property is insured with Alexander Miller through The Drive Mansions Limited under policy number SP29297884. The sum insured at £41,149,545 ending on 29th June 2025.
Included within the net book value of land and buildings above is £100 (2024 - £100) in respect of freehold land and buildings.
The Drive Mansions Limited
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Debtors |
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2025 |
2024 |
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Assets held on behalf of lessees |
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At 31 March 2025 the company held the following net assets on behalf of leaseholders of The Drive Mansions:
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31/03/2025 |
31/03/2024 |
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£ |
£ |
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Amount due from tenants |
32,073 |
109,451 |
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Cash at bank and in hand |
119,016 |
188,440 |
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Prepayments |
17,024 |
16,957 |
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Trade creditors |
(10,161) |
(17,781) |
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Accrued audit fees |
(3,186) |
(2,520) |
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Other creditors |
(294) |
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Deferred revenue |
(47,226) |
(116,526) |
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107,540 |
177,727 |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Amounts held on behalf of lessees |
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At 31 March 2025 the company held net assets, as set out in Note 5 above, on behalf of the leaseholders of The Drive Mansions. The Company is obliged to transfer over these net assets to the leaseholders of The Drive Mansions in the event of the company ceasing to manage the Drive Mansions property. Therefore these net assets amounting to £107,540 (2024:£177,727) represent a creditor of the company to the leaseholders of The Drive Mansions.
The Drive Mansions Limited
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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105 |
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105 |
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Related party transactions |
The day to day management of The Drive Mansions is dealt with by Mr JA Cordell, company secretary of the company. During the year management fee paid was £26,780 (2024: £26,780).