Carlton Mansions Management Company Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 5

Carlton Mansions Management Company Limited

(Registration number: 02375998)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	37,685	38,410
Current assets
Debtors	5	54,648	45,299
Cash at bank and in hand		165,540	81,150
		220,188	126,449
Creditors: Amounts falling due within one year	6	(4,735)	(32,198)
Net current assets		215,453	94,251
Net assets		253,138	132,661
Reserves
Lift levy reserve		101,797	-
Profit and loss account		151,341	132,661
Surplus		253,138	132,661

For the financial year ending 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 24 September 2026 and signed on its behalf by:
 

Ian David Wilson Director

Carlton Mansions Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025

1	General information

The company is a company limited by guarantee, incorporated in England and Wales, 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.

The address of its registered office is:
Hillsdon House
High Street
Sidmouth
Devon
EX10 8LD

Principal activity

The principal activity of the company is that of a flat management company.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Carlton Mansions Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Expenditure

Although acting on behalf of the tenants, the company enters into contracts in its own name, and bears the risks relating to those contracts. As such, the company records revenue as principal.

Cash at Bank

Bank accounts held directly in the name of the company together with the client bank account held in the name of the managing agent, Harrison-Lavers & Potburys Ltd on behalf of the company in trust at HSBC Bank plc under the Landlord and Tenant Act 1987, have been treated as assets of the company in the financial statements.

Revenue recognition

Turnover represents service charges due from the tenants in the period.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Asset class	Depreciation method and rate
Freehold Property (excluding land)	2% straight line

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Carlton Mansions Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

2	Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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 a market rate of interest for a similar debt instrument.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2024 - 7).

4	Tangible assets

	Land and buildings £	Total £
Cost or valuation
At 1 January 2025	54,357	54,357
At 31 December 2025	54,357	54,357
Depreciation
At 1 January 2025	15,947	15,947
Charge for the year	725	725
At 31 December 2025	16,672	16,672
Carrying amount
At 31 December 2025	37,685	37,685
At 31 December 2024	38,410	38,410

Included within the net book value of land and buildings above is £37,685 (2024 - £38,410) in respect of freehold land and buildings.
 

Carlton Mansions Management Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025 (continued)

5

Debtors

	2025 £	2024 £
Trade debtors	42,331	31,508
Prepayments	12,317	13,791
	54,648	45,299

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	-	4,165
Taxation and social security	334	474
Accruals and deferred income	4,401	7,995
Other creditors	-	19,564
	4,735	32,198

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.


Lift levy reserve

This reserve is in respect of funds received and to be utilised against future lift works.