Cullane Limited Company accounts

COMPANY REGISTRATION NUMBER: 03370546

Cullane Limited

Unaudited Financial Statements

31 March 2025

Cullane Limited

Financial Statements

Year ended 31 March 2025

Contents	Page

Officers and professional advisers	1

Directors' report	2

Statement of income and retained earnings	3

Statement of financial position	4

Notes to the financial statements	6

The following pages do not form part of the financial statements

Accountants report to the board of directors on the preparation of the unaudited statutory financial statements	10

Cullane Limited

Officers and Professional Advisers

The board of directors O Ari

D J Service

N H Williams

Registered office	Bourne House
	475 Godstone Road
	Whyteleafe
	Surrey
	CR3 0BL

Accountants	Complete Finances
	Accountants
	Southpoint,
	Old Brighton Road,
	Lowfield Heath
	West Sussex.
	RH11 0PR

Cullane Limited

Directors' Report

Year ended 31 March 2025

The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025 .

Directors

The directors who served the company during the year were as follows:

O Ari
D J Service
N H Williams

Dividends

Due to the nature of the company's activities, no dividends are payable by the company.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 19 December 2025 and signed on behalf of the board by:

D J Service

Director

Registered office:

Bourne House

475 Godstone Road

Whyteleafe

Surrey

CR3 0BL

Cullane Limited

Statement of Income and Retained Earnings

Year ended 31 March 2025

	2025	2024
Note	£	£
Income	45,793	50,178

	--------	--------
	45,793	50,178

Administrative expenses	39,633	49,421
	--------	--------
	6,160	757

Interest receivable	5	96	–
		--------	--------
Surplus before taxation		6,256	757

Taxation on ordinary activities	48	144
	-------	----
Profit for the financial year and total comprehensive income	6,208	613
	-------	----

All the activities of the company are from continuing operations.

Cullane Limited

Statement of Financial Position

31 March 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	47,425	47,425

Current assets

Debtors	7	4,664	2
Cash at bank and in hand		78,407	73,424
		--------	--------
		83,071	73,426

Creditors: amounts falling due within one year	8	74,259	70,822
		--------	--------
Net current assets		8,812	2,604
		--------	--------
Total assets less current liabilities		56,237	50,029
		--------	--------
Net assets		56,237	50,029
		--------	--------

Capital and reserves

Called up share capital	22	22
Share premium account	34,480	34,480
General Reserve Fund	21,735	15,527
	--------	--------
Shareholders funds	56,237	50,029
	--------	--------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the 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 financial statements for the year in question in accordance with section 476 ;

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

Cullane Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 19 December 2025 , and are signed on behalf of the board by:

D J Service

Director

Company registration number: 03370546

Cullane Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bourne House, 475 Godstone Road, Whyteleafe, Surrey, CR3 0BL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Impairment of 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.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debt instruments are subsequently measured at amortised cost.

4. Bank account

Service charge money was held in trust at Barclays Bank Plc under the title Property Maintenance & Management Services Ltd designated client account RE: Cullane Limited and at Virgin Money under the title Cullane Limited .

5. Interest receivable

	2025	2024
	£	£
Interest on cash and cash equivalents	96	–
	----	----

6. Tangible assets

	Freehold property
	£
Cost
At 1 April 2024 and 31 March 2025	47,425
	--------
Depreciation
At 1 April 2024 and 31 March 2025	–
	--------
Carrying amount
At 31 March 2025	47,425
	--------
At 31 March 2024	47,425
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	4,662	–
Other debtors	2	2
	-------	----
	4,664	2
	-------	----

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	3,847	–
Corporation tax	–	753
Other creditors	70,412	70,069
	--------	--------
	74,259	70,822
	--------	--------

9. General reserve fund

£

As at 1 April 2024 15,527

Transfer from income and expenditure account Nil

Surplus for the period for residential lessees 6,208

As at 31 March 2025 21,735

The General Fund has been established to meet the cost of large, non-regular repair and maintenance work which is expected to arise in the future on behalf of the residential lessees. The present level of this fund may prove insufficient given the uncertainty as to when such costs may arise.

Any shortfall in this fund resulting from expenditure incurred will be charged to the Income and Expenditure account in that year.

10. Summary of costs as required by section 21(5) landlord and

tenant act 1985.

a) Costs charged in the accounts in respect of which no demand for payment was received by the landlord within the service charge period but provision has been made amounted to £2,422.

b) Costs charged in the accounts in respect of which a demand for payment was so received but no payment was made by the landlord within the service charge period amounted to £3,847.

c) Costs charged in the accounts in respect of which a demand for payment was so received and payment was made by the landlord within the service charge period amounted to £33,364.

Total expenditure incurred within the period totals £39,633.

Cullane Limited

Management Information

Year ended 31 March 2025

The following pages do not form part of the financial statements.

Cullane Limited

Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Cullane Limited

Year ended 31 March 2025

You have stated that an audit of the service charge accounts in accordance with International Standards on Auditing is not required under the terms of the lease for Forest Lodge. In accordance with our engagement letter dated 20 March 2025, we have performed the procedures agreed with you and enumerated below with respect to the service charge accounts set out on pages 1 to 7 in respect of Forest Lodge for the year ended 31 March 2025 in order to provide a report of factual findings about the service charge accounts that you have issued.

This report is made to the landlord for issue with the service charge accounts in accordance with the terms of our engagement. Our work has been undertaken to enable us to make this report to the Landlord and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Landlord for our work or for this report.

Basis of report

Our work was carried out having regard to TECH 03/11 Residential Service Charge Accounts published jointly by the professional accountancy bodies with ARMA and RICS. In summary, the procedures we carried out with respect to the service charge accounts were:

1. We obtained the service charge accounts and checked whether the figures in the accounts were extracted correctly from the accounting records maintained by or on behalf of the Landlord;

2. We checked, based on a sample, whether entries in the accounting records were supported by receipts, other documentation or evidence that we inspected; and

3. We checked whether the balance of service charge monies for this property shown on page 6 of the service charge accounts agreed or reconciled to the bank statements for the account in which the funds are held.

Because the above procedures do not constitute either an audit or a review made in accordance with International Standards on Auditing (UK and Ireland) or International Standards on Review Engagements, we do not express any assurance on the service charge accounts other than in making the factual statements set out below.

Had we performed additional procedures or had we performed an audit or review of the financial statements in accordance with International Standard on Auditing (UK and Ireland) or International Standards on Review Engagements, other matters might have come to our attention that would have been reported to you.

Report on factual finding:

(a) With respect to item 1 we found the figures in the statement of account to have been extracted correctly from the accounting records.

(b) With respect to item 2 we found that those entries in the accounting records that we checked were supported by receipts, other documentation or evidence that we inspected.

(c) With respect to item 3 we found that the balance of service charge monies shown on page 6 of the service charge accounts agrees or reconciles to the bank statement for the account in which the funds are held.

Complete Finances Accountants

Southpoint, Old Brighton Road, Lowfield Heath West Sussex. RH11 0PR

19 December 2025