| "PHOENIX" MANAGEMENT COMPANY LIMITED |
| Registered number: |
03242800 |
| Balance Sheet |
| as at 31 December 2025 |
|
|
|
|
|
|
|
Restated |
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Current assets |
| Debtors |
3 |
|
85,609 |
|
|
104,952 |
| Cash at bank and in hand |
4 |
|
244,216 |
|
|
336,947 |
|
|
|
329,825 |
|
|
441,899 |
|
| Creditors: amounts falling due within one year |
5 |
|
(320,179) |
|
|
(502,650) |
|
| Net current assets/(liabilities) |
|
|
|
9,646 |
|
|
(60,751) |
|
| Net assets/(liabilities) |
|
|
|
9,646 |
|
|
(60,751) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
65 |
|
|
65 |
| Service charge reserves |
10 |
|
|
16,442 |
|
|
(56,072) |
| Car park reserves |
10 |
|
|
(6,861) |
|
|
(4,744) |
|
| Shareholders' funds |
|
|
|
9,646 |
|
|
(60,751) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
| G A Jackson |
| Director |
| Approved by the board on 24 June 2026 |
|
| "PHOENIX" MANAGEMENT COMPANY LIMITED |
| Notes to the Service Charge Accounts |
| for the year ended 31 December 2025 |
|
|
| 1 |
Accounting policies |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Unpaid share capital |
65 |
|
65 |
|
Amounts due from lessees - service charges |
28,530 |
|
18,915 |
|
Amounts due from lessees - car park |
27,099 |
|
37,191 |
|
Due from The Phoenix Freehold Limited |
- |
|
- |
|
Petty Cash Float |
- |
|
500 |
|
Prepayments |
5,333 |
|
5,333 |
|
Loan interest receivable |
- |
|
42,948 |
|
Other debtors |
24,582 |
|
- |
|
|
|
|
|
|
85,609 |
|
104,952 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Cash at bank |
2025 |
|
2024 |
| £ |
£ |
|
|
Operated by the managing agents - HSBC Current account |
244,216 |
|
336,947 |
|
|
|
|
|
|
|
244,216 |
|
336,947 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Due to The Phoenix Freehold Limited |
|
274,488 |
|
312,650 |
|
Taxation and social security costs |
1,624 |
|
702 |
|
Sundry creditors and accruals |
44,067 |
|
189,298 |
|
|
|
|
|
|
320,179 |
|
502,650 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Reserve Funds for Future Expenditure |
|
|
This amount is set aside under Clause (1)(e) of the Fifth Schedule, as a provision for future costs of maintenance and renewal and should not be regarded as the sum required to meet future cost in full, but only as a contribution to such costs. |
|
|
| 7 |
Car park - apportionment of expenditure |
2025 |
|
2024 |
| % |
% |
|
Car park expenditure where not directly attributable to the car park has been apportioned as follows:- |
|
Security / CCTV |
25% |
|
25% |
|
Wages and national insurance |
10% |
|
10% |
|
Maintenance |
40% |
|
40% |
|
Utilities |
25% |
|
25% |
|
Building insurance |
10% |
|
10% |
|
Engineering insurance |
50% |
|
50% |
|
|
The deficit for the year of £52,069 (2024 Surplus of £8,383) on the car park has been debited to the car park reserve fund. |
|
| 8 |
Contribution by car park to flats expenditure |
|
|
The amount of £70,000 (2024 (£750)) has been transferred from the car park service charge fund to the flats service charge fund. |
|
|
| 9 |
Managing agents declaration |
|
|
Wall Property Ltd declare that additional income is received by them via insurance commission as agreed with the client. No commission is taken from any contractor or supplier for any reason whatsoever. |
|
|
| 10 |
Reserve fund for Future Expenditure |
2025 |
|
2024 |
| £ |
£ |
|
Leasehold Flats |
|
|
Balance brought forward |
(56,072) |
|
7,439 |
|
Service charge (surplus for the year) |
72,514 |
|
(63,511) |
|
|
|
Balance carried forward |
16,442 |
|
(56,072) |
|
|
|
|
|
|
|
|
|
|
Car park |
|
|
Balance brought forward |
(4,744) |
|
(13,127) |
|
Collected in year |
- |
|
Service charge (deficit) for the year |
(2,117) |
|
8,383 |
|
|
Balance carried forward |
(6,861) |
|
(4,744) |
|
|
|
|
|
|
|
|
|
|
| 11 |
Accounting Presentation change |
|
|
The company accounts now incorporate the service charge income and expenses accounts rather than posting dormant accounts. This is consistent with the ICAEW guidance for the production of residential service charge accounts. |
|
|
| 12 |
Other information |
|
|
"PHOENIX" MANAGEMENT COMPANY LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
Associates House |
|
118A East Barnet Road |
|
Barnet |
|
Herts |
|
EN4 8RE |