Registration number: 07900853

Michael Richards Property Management Limited

Contents

Company Information	1
Abridged Balance Sheet	2 to 3
Notes to the Unaudited Abridged Financial Statements	4 to 8

Michael Richards Property Management Limited

Company Information

Directors

Adam Goldwater Carol Cherriman

Registered office

16 Great Queen Street Covent Garden London WC2B 5AH

Accountants

Morton Baxter Associates Limited 3 Slaters Court Princess Street Knutsford Cheshire WA16 6BW

Michael Richards Property Management Limited

(Registration number: 07900853)
Abridged Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	5	-	91,015
Tangible assets	6	32,687	30,772
		32,687	121,787
Current assets
Debtors		190,443	156,180
Cash at bank and in hand		198,680	196,852
		389,123	353,032
Prepayments and accrued income		91,201	105,591
Creditors: Amounts falling due within one year		(245,480)	(281,274)
Net current assets		234,844	177,349
Total assets less current liabilities		267,531	299,136
Accruals and deferred income		(136,154)	(138,110)
Net assets		131,377	161,026
Capital and reserves
Called up share capital	7	1	1
Retained earnings		131,376	161,025
Shareholders' funds		131,377	161,026

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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 December 2025 and signed on its behalf by:
 

Michael Richards Property Management Limited

(Registration number: 07900853)
Abridged Balance Sheet as at 31 March 2025

......................................... Adam Goldwater Director

Michael Richards Property Management Limited

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

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
16 Great Queen Street
Covent Garden
London
WC2B 5AH
United Kingdom

These financial statements were authorised for issue by the Board on 2 December 2025.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Michael Richards Property Management Limited

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

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.

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
Fixtures and fittings	25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 24 (2024 - 24).

Michael Richards Property Management Limited

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

4	Profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Depreciation expense	8,276	7,244
Amortisation expense	91,016	91,016

Michael Richards Property Management Limited

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

5	Intangible assets

	Total £
Cost or valuation
At 1 April 2024	757,267
At 31 March 2025	757,267
Amortisation
At 1 April 2024	666,252
Amortisation charge	91,015
At 31 March 2025	757,267
Carrying amount
At 31 March 2025	-
At 31 March 2024	91,015

6	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 April 2024	61,227	61,227
Additions	10,191	10,191
At 31 March 2025	71,418	71,418
Depreciation
At 1 April 2024	30,455	30,455
Charge for the year	8,276	8,276
At 31 March 2025	38,731	38,731
Carrying amount
At 31 March 2025	32,687	32,687
At 31 March 2024	30,772	30,772

7	Share capital

Allotted, called up and fully paid shares

Michael Richards Property Management Limited

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

	2025		2024
	No.	£	No.	£
Ordinary shares of £0.00 each	1,000	1	1,000	1