Company registration number 05737357 (England and Wales)
270 NORTH MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 23 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
270 NORTH MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
270 NORTH MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
23 JUNE 2025
23 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
97
130
Current assets
Debtors
5
3,095
18,938
Cash at bank and in hand
34,427
23,324
37,522
42,262
Creditors: amounts falling due within one year
6
(16,992)
(16,717)
Net current assets
20,530
25,545
Total assets less current liabilities
20,627
25,675
Reserves
Capital maintenance reserve
20,627
25,675

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 23 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 23 February 2026 and are signed on its behalf by:
S E Bridge
Director
Company Registration No. 05737357
270 NORTH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 23 JUNE 2025
- 2 -
1
Accounting policies
Company information

270 North Management Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit A Woodlands Court, Truro Business Park, Truro, Cornwall, TR4 9NH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is the maintenance fees receiv able for the upkeep and maintenance of the communal areas of 270 North and is recognised on an accruals basis over the maintenance period.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% reducing balance
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

270 NORTH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 23 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
3
Taxation

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 23 June 2025 nor for the year ended 23 June 2024.

4
Tangible fixed assets
Plant and machinery
£
Cost
At 24 June 2024 and 23 June 2025
9,789
Depreciation and impairment
At 24 June 2024
9,659
Depreciation charged in the year
33
At 23 June 2025
9,692
Carrying amount
At 23 June 2025
97
At 23 June 2024
130
270 NORTH MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 23 JUNE 2025
- 4 -
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Maintenance fees in arrears
886
1,530
Prepayments and accrued income
2,209
17,408
3,095
18,938
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
197
60
Maintenance fees paid in advance
15,512
15,372
Accruals
1,283
1,285
16,992
16,717
7
Reserves

Maintenance fees receivable by the company are taken as capital receipts and transfers will be made to and from the capital maintenance reserve each year to cover the year's actual expenses.

8
Limited by guarantee

The company is a private limited company limited by guarantee and consequently does not have a share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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