Sandgate Court (Penrith) Management Company Limited


Directors	Jacqueline Braithwaite
	Norman John Crump
	Kim Gould
	Hannah Sophie Williams


Company Secretary	Alan Storey


Registered Address	Lsl Estate Management Ltd Pacific House Business Centre
	Parkhouse
	Cumbria
	CA3 0LJ


Registered Number	02791358 (England and Wales)

Statement of Financial Position
31 March 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		77		94
			77		94
Current assets
Debtors	5	1,943		2,178
Cash at bank and on hand		50,713		55,605
		52,656		57,783
Creditors amounts falling due within one year	6	(2,616)		(2,391)
Net current assets (liabilities)			50,040		55,392
Total assets less current liabilities			50,117		55,486
Net assets			50,117		55,486
Capital and reserves
Called up share capital			20		20
Other reserves			40,790		40,790
Profit and loss account			9,307		14,676
Shareholders' funds			50,117		55,486

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 20 November 2025, and are signed on its behalf by:

Norman John Crump
Director
Registered Company No. 02791358

Sandgate Court (Penrith) Management Company Limited

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Judgements and key sources of estimation uncertainty
	Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

	Turnover policy
	Turnover represents amounts received for maintenance of a building. Amounts are received monthly to cover annual maintenance costs.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Office Equipment	15

	Trade and other 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.

Trade and other 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.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less.

Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

	Trade and other 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.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	1		1

3.	Tangible fixed assets

	Office Equipment	Total
	£	£
Cost or valuation
At 01 April 24	2,293	2,293
At 31 March 25	2,293	2,293
Depreciation and impairment
At 01 April 24	2,199	2,199
Charge for year	17	17
At 31 March 25	2,216	2,216
Net book value
At 31 March 25	77	77
At 31 March 24	94	94

4.	Impairment of tangible fixed assets
	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.

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	101	-
Prepayments and accrued income	1,842	2,178
Total	1,943	2,178

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	112	-
Other creditors	-	1,424
Accrued liabilities and deferred income	2,504	967
Total	2,616	2,391


	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.

7.	Further information regarding the company's financial position
	Sinking Fund - has been established to provide funds to meet the costs of major repairs to the properties. General Reserve - has been established to meet the cost of large, non-regular repair and maintenance work.