Registration number:
The Grove (Axminster) Property Management Company Limited
for the Year Ended 31 December 2025
The Grove (Axminster) Property Management Company Limited
(Registration number: 05941886)
Balance Sheet as at 31 December 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
12 |
12 |
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General reserves |
200 |
200 |
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Retained earnings |
774 |
672 |
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Shareholders' funds |
986 |
884 |
For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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The Grove (Axminster) Property Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
The principal place of business is:
45 Abbey Close
Axminster
Devon
EX13 5QU
These financial statements were authorised for issue by the
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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.
Revenue recognition
Turnover comprises the consideration received or receivable as contributions towards shared costs of the freehold held by the management company. The company does not trade.
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 balance sheet 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.
The Grove (Axminster) Property Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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:
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Asset class |
Depreciation method and rate |
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Freehold land |
Nil (no depreciation) |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, 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.
Trade debtors
Trade debtors are amounts due from shareholders for service charge contributions and levies.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Borrowings
Borrowings are shown at settlement cost and exclude any future interest commitments.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
The Grove (Axminster) Property Management Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Tangible assets |
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Land and buildings |
Total |
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Cost or valuation |
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At 1 January 2025 |
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At 31 December 2025 |
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Depreciation |
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Carrying amount |
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At 31 December 2025 |
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At 31 December 2024 |
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Included within the net book value of land and buildings above is £1 (2024 - £1) in respect of freehold land and buildings.
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Debtors |
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Current |
2025 |
2024 |
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Prepayments |
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Creditors |
Creditors: amounts falling due within one year
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2025 |
2024 |
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Due within one year |
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Accruals and deferred income |
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- |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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12 |
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12 |