| Imperial Court Residents Management Limited |
| Registered number: |
11958604 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
508,793 |
|
|
508,793 |
|
| Current assets |
| Debtors |
5 |
|
23,572 |
|
|
22 |
| Cash at bank and in hand |
|
|
23,268 |
|
|
28,178 |
|
|
|
46,840 |
|
|
28,200 |
|
| Creditors: amounts falling due within one year |
6 |
|
(54,491) |
|
|
(16,317) |
|
| Net current (liabilities)/assets |
|
|
|
(7,651) |
|
|
11,883 |
|
| Total assets less current liabilities |
|
|
|
501,142 |
|
|
520,676 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(550,129) |
|
|
(550,129) |
|
|
|
| Net liabilities |
|
|
|
(48,987) |
|
|
(29,453) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
22 |
|
|
22 |
| Profit and loss account |
|
|
|
(49,009) |
|
|
(29,475) |
|
| Shareholders' funds |
|
|
|
(48,987) |
|
|
(29,453) |
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
| Mr I J Fleming |
| Director |
| Approved by the board on 27 November 2025 |
|
| Imperial Court Residents Management Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 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). |
|
|
Tangible fixed assets |
|
The Company holds the reversionary interest in the freehold title of Imperial Court and Imperial View, Torquay, Devon. |
|
|
|
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. |
|
|
Taxation |
|
The Company is a non-trading flat management company. No liability to Corporation Tax arises on the income for the year. |
|
|
| 2 |
Directors' fees and expenses |
|
|
Directors' fees and expenses - Nil |
|
|
| 3 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
| £ |
|
Cost |
|
At 1 April 2024 |
508,793 |
|
At 31 March 2025 |
508,793 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
508,793 |
|
At 31 March 2024 |
508,793 |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Other debtors |
23,572 |
|
22 |
|
|
|
|
|
|
|
|
|
|
Debtors include an amount of £22,000 in respect of ground rent due from one leaseholder from 15 March 2024 to 31 March 2025. The amount payable is based on the decision of an independent expert appointed by RICS (Royal Institution of Chartered Surveyors) in accordance with the terms of the lease where agreement could not be reached between the parties. This decision is itself being disputed by the leaseholder and the balance remains unpaid at 24 November 2025. The directors consider that the amount is properly due and payable and accordingly, no provision is necessary. Action to recover the balance is underway. Interest is being accrued on the monies owed at the rate of 8% pa. |
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
54,491 |
|
14,082 |
|
Other creditors |
- |
|
2,235 |
|
|
|
|
|
|
54,491 |
|
16,317 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Mr A Deller Loan |
400,000 |
|
400,000 |
|
Shareholder loans |
150,129 |
|
150,129 |
|
|
|
|
|
|
550,129 |
|
550,129 |
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
|
Secured bank loans |
400,000 |
|
400,000 |
|
|
|
|
|
|
|
|
|
|
Mr A Deller loan secured on the freehold. Interest free for first 3 months and then 2% over Bank of England base rate. Fully repayable in April 2029. |
|
|
| 9 |
Other information |
|
|
Imperial Court Residents Management Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
19 The Terrace |
|
Torquay |
|
Devon |
|
TQ1 1BN |