House Seven - Kipling Terrace RTM Company Limited

	Page
Balance Sheet	1
Notes to the Financial Statements	2—3

Registered number: 04913209

		2026		2025
	Notes	£	£	£	£
CURRENT ASSETS
Debtors	4	1,468		1,814
Cash at bank and in hand		2,808		5,949

		4,276		7,763
Creditors: Amounts Falling Due Within One Year	5	(4,276 )		(7,763 )

NET ASSETS			-		-

For the year ending 31 March 2026 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 Income and Expenditure Account.

On behalf of the board

Mr B Montague Director	Mr A Savage Director	Mrs T Savage Director
24 July 2026

The notes on pages 2 to 3 form part of these financial statements.

1. General Information

House Seven - Kipling Terrace RTM Company Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 04913209 . The registered office is 7 Kipling Terrace, Westward Ho, Bideford, Devon, EX39 1HY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention, on a going concern basis 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

Revenue recognition

Turnover represents the contributions recoverable from the leaseholders to meet the expenses incurred by the company.

2.3. Financial Instruments

Recognition and measurement

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like creditors, debtors, leasholders' current accounts and bank balances.

Impairment

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recongnised in profit or loss.

If there is decrease in the impairement loss arising from an event occuring after the imapirment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairement reversal is recognised in profit or loss.

2.4. Share capital

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2025: NIL)

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House Seven - Kipling Terrace RTM Company Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Debtors

	2026	2025
	£	£
Due within one year
Other debtors	1,468	1,814

5. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other creditors	4,276	7,763

6. Related Party Transactions

Each director is the owner of a flat at House 7, Kipling Terrace and liable to pay a proportional contribution to the company's expenses.

7. Company limited by guarantee

The company was incorporated on 26 September 2003 as a private Company limited by shares to take advantage of the Right To Manage legislation enacted in the Commonhold & Leasehold Reform Act 2002.

Statutory Instrument 2003 No. 2120 introduced The RTM Companies (Memorandum and Articles of Association) (England) Regulations 2003 which came into force on 30 September 2003 and specified in Schedules the form and content of such documents for RTM companies, including the provision that they should be limited by guarantee. The Regulations state that the Memorandum and Articles of Association of a company formed before the effective date shall be treated as including such of the provisions set out in the Schedules as are required to secure compliance with the requirements of the Regulations and this company is now therefore limited by guarantee. The shares issued immediately following incorporation were therefore effectively cancelled with effect from 30 September 2003.

There are 5 members of the company, who each undertake to contribute up to £1 to the assets of the company in the event of the company being wound up while they are members, or within 1 year after ceasing to be a member, for payment of the debts and liabilities of the company incurred before membership ceased or to meet the costs of winding up the company.

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