Company registration number 01635436 (England and Wales)
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
CONTENTS
Page
Statement of financial position
4
Notes to the financial statements
5-8
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
7
141
141
Cash at bank and in hand
3
35,143
26,694
35,284
26,835
Creditors: amounts falling due within one year
5
(5,493)
(5,528)
Net current assets
29,791
21,307
Reserves
Income and expenditure account
29,791
21,307
Members' funds
29,791
21,307

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 19 November 2025 and are signed on its behalf by:
D Baple
Director
Company Registration No. 01635436
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2025
31 March 2025
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

Pioneer Cottages Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Hillsdon Management, Hillsdon House, High Street, Sidmouth, Devon, EX10 8LD.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

2.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
2
Accounting policies
(Continued)
- 3 -

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

2.5
Property
The company owns the freehold of the building which the directors consider has little value due to the long leases granted to the members
2.6
Taxation
Since the company is engaged in mutual trading, Corporation Tax would not normally be due. Liability could arise on any dealings with third parties.
2.7
Company status
The Company does not have a share capital. The liability of the members is limited by guarantee to an amount not exceeding £1.
3
Cash at bank and in hand
2025
2024
£
£
Lloyds Current Account
-
1,000
NatWest Client Manager Account - 56129831
22,725
18,157
NatWest Client Manager Account - 56129858
12,418
7,537
35,143
26,694
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
4
Investment income
2025
2024
£
£
Bank interest
494
539
494
539
5
Creditors: amounts falling due within one year
2025
2024
£
£
Annual maintenance paid early
3,650
2,590
Accountancy
837
787
Gardening
83
-
Heat and light
581
360
Rainscreen replacement & external wall repairs & decorations
342
1,791
5,493
5,528
6
Statement of movements on profit and loss account
Profit and loss
account
£
Balance at 1 April 2024
21,307
Profit for the year
8,484
Balance at 31 March 2025
29,791
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
141
141
8
Employees

The average monthly number of persons (including directors) employed by the company during the year was:6

2025
2024
Number
Number
Total
6
6
PIONEER COTTAGES MANAGEMENT COMPANY LIMITED
COMPANY LIMITED BY GUARANTEE & NOT HAVING A SHARE CAPITAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
9
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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