REGISTERED NUMBER: 03658489 (England and Wales)

Financial Statements for the Year Ended 31 March 2026

for

Friday Hill Tenant Management

Organisation Limited

Page

Statement of Financial Position

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

35,826

18,274

CURRENT ASSETS

Debtors

5

1,918

1,850

Cash at bank and in hand

548,570

399,540

550,488

401,390

CREDITORS

Amounts falling due within one year

6

112,098

105,741

NET CURRENT ASSETS

438,390

295,649

TOTAL ASSETS LESS CURRENT LIABILITIES

474,216

313,923

RESERVES

Other reserves

7

474,216

313,923

474,216

313,923

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 27 July 2026 and were signed on its behalf by:

Mr P Obeney - Director

1.	STATUTORY INFORMATION

Friday Hill Tenant Management Organisation 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:

03658489

Registered office:

The Chingdale Centre

19 Chingdale Road

Chingford

London

E4 6HZ

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.

Turnover

Turnover represents amounts receivable from the London Borough of Waltham Forest in respect of the management agreement, comprising maintenance allowances and contributions to operating costs. Income is recognised in the period to which it relates on an accruals basis

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, furniture, fittings and equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account as incurred.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The directors have assessed the company's ability to continue as a going concern for a period of not less than twelve months from the date of approval of these financial statements.

In forming their assessment, the directors have considered the company's financial position, cash resources, and the continuation of its principal funding arrangements. At 31 March 2026, the company held cash at bank of £548,570, net current assets of £438,390, and accumulated reserves of £474,216, representing a significant strengthening of the balance sheet compared to the prior year. The company has no long-term borrowings or external financing obligations.

The company's income is principally derived from a management agreement with the local authority, under which funding is received in respect of maintenance allowances and contributions to operating costs. The directors have no reason to believe that this funding will not continue for the foreseeable future, and the agreement continues to operate as expected.

Having regard to the above, the directors are satisfied that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, these financial statements have been prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

furniture,

fittings

and

Motor

Computer

equipment

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2025

42,177

26,989

13,175

82,341

Additions

729

25,895

1,174

27,798

Disposals

(18,754

)

(7,270

)

(3,156

)

(29,180

)

At 31 March 2026

24,152

45,614

11,193

80,959

DEPRECIATION

At 1 April 2025

30,180

26,989

6,898

64,067

Charge for year

1,909

6,474

1,863

10,246

Eliminated on disposal

(18,754

)

(7,270

)

(3,156

)

(29,180

)

At 31 March 2026

13,335

26,193

5,605

45,133

NET BOOK VALUE

At 31 March 2026

10,817

19,421

5,588

35,826

At 31 March 2025

11,997

-

6,277

18,274

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Prepayments

1,918

1,850

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade creditors

2

3

Taxation and social security

51,875

46,331

Other creditors

60,221

59,407

112,098

105,741

7.

RESERVES

The other reserves represent accumulated surpluses retained by the company since incorporation. The net surplus of £160,293 (2025: £113,676) represents income received in excess of expenditure incurred during the year in connection with the management agreement, retained as a general reserve to fund future maintenance and operational requirements of the estate.

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

The Report of the Auditors was unqualified.

Lorraine Curtis ACA BFP FCCA (Senior Statutory Auditor)

for and on behalf of Nordens Audit Limited

9.	RELATED PARTY DISCLOSURES

The Directors, who are also all board members are considered to be key management personnel.