Company Registration No. 08581141 (England and Wales)
PENNY COURT FLATS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
ACCOUNTS FOR FILING WITH REGISTRAR
PENNY COURT FLATS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PENNY COURT FLATS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
BALANCE SHEET
AS AT
30 SEPTEMBER 2025
30 September 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
65,278
65,278
Reserves
Freehold contribution reserve
65,278
65,278
Members' funds
65,278
65,278

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

For the financial year ended 30 September 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 5 June 2026 and are signed on its behalf by:
N Elsmore-Cary
Director
Company Registration No. 08581141
PENNY COURT FLATS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 2 -
1
Accounting policies
Company information

Penny Court Flats Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Suite 7A, Building 6, Croxley Park, Hatters Lane, Watford, Hertfordshire, WD18 8YH.

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income represents ground rents receivable from 1 property which did not take up the purchase of the freehold.

1.3
Tangible fixed assets

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

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

Land and buildings Freehold
Freehold interest is not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4

Status

During the year the company has acted as agent for the lessees of the property at 1-6 Penny Court, Watford, Hertfordshire, WD17 1QR. The funds in relation to the maintenance of the property are held in trust. As at 30 September 2025 the cash balance held on behalf of the lessees amounted to £8,701.

The company therefore has no income or expenditure in its own right in relation to the maintenance of the common parts of the property held in accordance with the governing leases. Income and expenditure arising from these transactions is shown in separate service charge accounts for the property that do not form part of the annual accounts of the company and are not filed at Companies House. The accounts can be obtained from Penny Court Flats Limited.

PENNY COURT FLATS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
- 3 -
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
Tangible fixed assets
Land and buildings
£
Cost
At 1 October 2024 and 30 September 2025
65,278
Depreciation and impairment
At 1 October 2024 and 30 September 2025
-
0
Carrying amount
At 30 September 2025
65,278
At 30 September 2024
65,278
4
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

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