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Registration number: 01213149

Lyncombe Crescent (Torquay) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2025

Lyncombe Crescent (Torquay) Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 5

Lyncombe Crescent (Torquay) Limited

(Registration number: 01213149)
Statement of Financial Position as at 31 December 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 9,875 | 9,875
Current assets |  |  |
Debtors | 5 | 49,019 | 42,780
Cash at bank and in hand |  | 167,278 | 159,124
|  | 216,297 | 201,904
Creditors: Amounts falling due within one year | 6 | (28,939) | (49,771)
Net current assets |  | 187,358 | 152,133
Net assets |  | 197,233 | 162,008
Capital and reserves |  |  |
Called up share capital |  | 50 | 50
Other reserves |  | 195,000 | 160,000
Profit and loss account |  | 2,183 | 1,958
Shareholders' funds |  | 197,233 | 162,008

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:

• | 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 16 April 2026 and signed on its behalf by:

Mrs K M Hayes Director

Lyncombe Crescent (Torquay) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1 | General information

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

The address of its registered office is:
345a Torquay Road
Preston
Paignton
Devon
TQ3 2DZ
United Kingdom

Principal activity

The principal activity of the company is the management of the residential flats at Lyncombe Crescent, Higher Lincombe Road, Torquay, for the benefit of the leaseholders.

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 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.

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

Lyncombe Crescent (Torquay) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover represents the amount derived from two sources. Maintenance charges rendered half-yearly in advance to all flat owners to cover all common service costs incurred by the company in its management of 'Lyncombe Crescent' for the benefit of the flat owners. Ground rents receivable from flat owners half-yearly in arrears from the company's ownership of the freehold reversion of 'Lyncombe Crescent'.

Tax

The company is a mutual trading company and taxation is only chargeable on income received from outside the membership.

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.

Tangible assets

The company's only fixed asset is the freehold reversionary interest in 'Lyncombe Crescent' Higher Lincombe Road, Torquay, Devon.

Depreciation

No depreciation has been charged as the only asset is considered to be non-depreciable land.
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Lyncombe Crescent (Torquay) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2 | Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4 | Tangible assets

| Land and buildings £ | Total £
Cost or valuation
At 1 January 2025 | 9,875 | 9,875
At 31 December 2025 | 9,875 | 9,875
Depreciation
Carrying amount
At 31 December 2025 | 9,875 | 9,875
At 31 December 2024 | 9,875 | 9,875

Included within the net book value of land and buildings above is £9,875 (2024 - £9,875) in respect of freehold land and buildings.

5 | Debtors

| 2025 £ | 2024 £
Trade debtors | 23,226 | 16,688
Prepayments | 25,793 | 26,092
| 49,019 | 42,780

Trade debtors represents management charges outstanding.

Lyncombe Crescent (Torquay) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

6 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 426 | 1,499
Taxation and social security | 1,120 | 911
Accruals and deferred income | 27,393 | 47,361
| 28,939 | 49,771

7 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses.
Other reserves:
This reserve represents a contingency fund created in April 1992 to provide for exceptional expenditure that the directors consider could arise in the future.

8 | Financial commitments, guarantees and contingencies

Amounts not provided for in the statement of financial position

The total amount of contingencies not included in the statement of financial position is £Nil (2024 - £Nil).