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Registration number: 03041954

Mortehoe Apartments Management Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 March 2025

Mortehoe Apartments Management Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 6

Mortehoe Apartments Management Limited

(Registration number: 03041954)
Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 610 | 610
Current assets |  |  |
Debtors | 5 | 30 | 68
Cash at bank and in hand |  | 43,675 | 43,279
|  | 43,705 | 43,347
Creditors: Amounts falling due within one year | 6 | (900) | (882)
Net current assets |  | 42,805 | 42,465
Net assets |  | 43,415 | 43,075
Capital and reserves |  |  |
Called up share capital |  | 15 | 15
Profit and loss account |  | 43,400 | 43,060
Shareholders' funds |  | 43,415 | 43,075

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

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 6 September 2025 and signed on its behalf by:

Mr P Wilson Director

Mortehoe Apartments Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is that of a property management company

2 | 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Mortehoe Apartments Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Freehold property | The property is not depreciated as it is held on a 999 year lease and depreciation is considered immaterial.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Mortehoe Apartments Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2 | Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

Mortehoe Apartments Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 April 2024 | 610 | 610
At 31 March 2025 | 610 | 610
Depreciation
Carrying amount
At 31 March 2025 | 610 | 610
At 31 March 2024 | 610 | 610

5 | Debtors

| 2025 £ | 2024 £
Other debtors | 30 | 68
| 30 | 68

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Accruals and deferred income | 900 | 882

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.

Mortehoe Apartments Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8 | Related party transactions

The directors of the company are also members and pay the company contributions on the same basis as the other members. Receipts from the directors paid during the year are as follows: All directors paid £130 per month members contributions.
The company also paid during the year £752 (2024: £741) for the directors indemnity insurance.