Pinehurst Court Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01096674 (England and Wales)

Audited Financial Statements

for the Year Ended 24 June 2024

for

Pinehurst Court Management Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Debtors

4

98,402

83,112

Cash at bank

603,821

424,699

702,223

507,811

CREDITORS

Amounts falling due within one year

5

(49,959

)

(54,185

)

NET CURRENT ASSETS

652,264

453,626

TOTAL ASSETS LESS CURRENT
LIABILITIES

652,264

453,626

RESERVES

Other reserves

6

5,250

Income and expenditure account

6

647,014

448,376

652,264

453,626

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2026 and were signed on its behalf by:

V Garth - Director

1.	STATUTORY INFORMATION

Pinehurst Court Management Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

01096674

Registered office:

24, High Street

Holme Upon Spalding Moor

York

YO43 4HL

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company is aware that under current best practice the financial statements of resident management companies are most commonly non-trading accounts as under the terms of the lease monies collected as service charges are considered to be trust monies, which do not belong to the company. Under these circumstances the statutory non-trading accounts would be presented alongside service charge accounts which would provide all of the information contained within these financial statements. As there is continuing debate around the format that the statutory accounts should take the Directors have taken the pragmatic approach that these financial statements meet the requirements of both the company and the lessees while acknowledging that the assets are held on trust to meet the obligations laid out in the lease of the property.

Turnover

The turnover represents invoiced service charges, net of discounts given. The service charge is levied for the accounting period to cover the anticipated day to day costs arising and to provide a reserve for planned items of major expenditure. It is recognised on the due date as stipulated in the lease and not by reference to the date of the demand.

Due to the anticipated major works in connection with fire safety, all lessees have been asked to make additional contributions to cover the projected costs.These contributions are spread over several years commencing in this financial year. The total requested is included in turnover. As with the service charge demands, the fire safety demands are recognised on the due date and not by reference to the date of the demand.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme to comply with its obligations under Auto Enrolment provided through the National Employment Savings Trust (NEST). Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24/6/24

24/6/23

£

Unpaid Service Charge

57,654

41,663

Other debtors

40,748

41,449

98,402

83,112

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

24/6/24

24/6/23

£

Service Charge Paid in Advance

31,223

27,255

Taxation and social security

1,432

133

Other creditors

17,304

26,797

49,959

54,185

6.

RESERVES

Under Part 5 of the Schedule to each lease granted in the property, the Lessee was required to deposit the sum of £50 and to permit the Company to retain the same during the term of the lease as a reserve towards making good any default by the Lessee in paying any monies due to the Company in respect of all costs, charges and expenses incurred by the Company in performing its duties under the terms of the lease. All such payments will be repayable in full without interest to the Lessee at the end or sooner determination of the term of the lease. Due to the long term nature of this deposit it is disclosed as an "Other Reserve" in the accounts.

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

As referred to by the directors in note 9 of the accounts, the company is currently defending an action taken out against it. At the current time the advise obtained by the directors' indicates that the company is in a strong position to defend itself and the directors' are of the opinion that no provision is required for a negative outcome.The matter is tabled to be decided at a full face to face hearing in the First Tier Tribunal Property Chamber (Residential Property) on 3rd September.

Susan Richardson (Senior Statutory Auditor)

for and on behalf of S C Telfer

The audit report was prepared in connection with the audit of the full annual accounts and directors' report. The directors' report has not been filed.

8.	CONTINGENT LIABILITIES

The company is currently facing a challenge through Tribunal Services which it is actively defending . All indications are that the company is in a strong position to defend itself and the directors are confident in the outcome which should be decided by the end of September 2026.

The company is not incurring any costs in relation to this action as it is not mandated to do so by the Memorandum and Articles of association.

Although the outcome cannot be predicted with certainty it is considered unlikely at this stage that a significant settlement will need to be made and no provision is included in these accounts..

9.	CAPITAL COMMITMENTS

During 2025 the directors committed to the refurbishment of the lift in Block 3. The contract was awarded to Chaney Lifts limited as the preferred bidder. Work commenced on the refurbishment in January 2026.

The ongoing fire safety work was started after the year end. The contract price as reported last year remains unchanged. At the date of this report Block 3 has yet to be started while the work on the other Blocks has been substantially completed. Payments have been made from the Fire Safety fund as and when requested. Block 3 will be started once the necessary funding is in place.

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.