Phase Three Management Ltd

	Page
Balance Sheet	1
Notes to the Financial Statements	2

Registered number: 07445417

		2025		2024
	Notes	£	£	£	£
CURRENT ASSETS
Cash at bank and in hand		14,313		11,044

		14,313		11,044
Creditors: Amounts Falling Due Within One Year	4	(5,468 )		(1,736 )

NET CURRENT ASSETS (LIABILITIES)			8,845		9,308

TOTAL ASSETS LESS CURRENT LIABILITIES			8,845		9,308

NET ASSETS			8,845		9,308

CAPITAL AND RESERVES
Called up share capital	5		7		7
Profit and Loss Account			8,838		9,301

SHAREHOLDERS' FUNDS			8,845		9,308

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Crispin Holmes

Director

5 August 2026

The notes on page 2 form part of these financial statements.

1. General Information

Phase Three Management Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07445417 . The registered office is 138 High Street, Crediton, Devon, EX17 3DX.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Management service charges receivable represents the amounts levied as service charges on account of expenditure incurred by the company during the year. Any excess of service charges received over expenditure is carried forward as residents' funds.

2.3. Financial Instruments

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 the market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

2.4. Taxation

The company is a management company run for its members and as such is a not for profit and not subject to taxation. Neither tax nor deferred tax is recognised.

2.5. Cash at Bank and in Hand

Shown on the face of the balance sheet is monies held in a company bank account and as cash in hand, under the following conditions:

a) the fact that a statutory trust is imposed over service charge monies received under Section 42 of the Landlord and Tenant Act 1987 and that the residential management company acts as a trustee in this capacity; and

b) the closing balance of cash and other assets held in trust by the residential management company.

2.6. 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.

2.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

4. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	5,468	1,736

5. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	7	7

6. Related Party Transactions

Due to the nature of the company all of its income is derived from its members.