New Colebrooke Court Management Limited

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

1	General information

New Colebrooke Court Management Limited (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1.

2	Accounting policies

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).

Departure from Companies Act requirements

The financial statements depart from the standard format of the Companies Act 2006 in that turnover has been replaced by service charge income, cost of sales has been replaced by service charge expenditure and profit/(loss) has been replaced by surplus/(deficit). This departure, as permitted by s396 of the Companies Act 2006, has arisen because the directors consider that this presentation is more appropriate given the nature of the company's activity. The result for the year is unaffected by the accounting treatment period.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.

Critical judgements and key sources of estimation uncertainties

There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.

New Colebrooke Court Management Limited

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

2	Accounting policies (continued)

Revenue recognition

Service charges collected are held on trust for the purpose of meeting the relevant costs in relation to the property in accordance with the provisions of section 42 of the Landlord and Tenant Act 1987. Service charge income represents variable service charges receivable from the leaseholders for the year.

Tax

The company acts as a trustee in respect of funds held to manage New Colebrooke Court. In consequence, service charge income and service charge expenditure items are neither taxable nor allowable for corporation tax purposes and therefore there is no liability to UK corporation tax.

Property, plant and equipment

Property, plant and equipment represents freehold land which is stated at a nominal value of £1. No depreciation is provided on this.

Asset class	Depreciation method and rate
Freehold land	Nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and at bank and are subject to an insignificant risk of change in value.

Receivables

Service charge arrears are amounts due at the financial year end from the leaseholders.

Payables

Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from contractors and suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

New Colebrooke Court Management Limited

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

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4	Property, plant and equipment

	Land and buildings £
Cost or valuation
At 1 April 2024	1
At 31 March 2025	1
Carrying amount
At 31 March 2025	1
At 31 March 2024	1

5	Receivables

Current	2025 £	2024 £
Service charge arrears	16,237	14,567
Prepayments & accrued income	10,469	7,546
	26,706	22,113

6	Cash and cash equivalents

	2025 £	2024 £
Cash at bank	50,312	46,730

Service charge monies are held in trust in a designated client account at Metro Bank Plc under the title CECPM Limited Client Account New Colebrooke Court.

New Colebrooke Court Management Limited

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

7

Payables

Payables: amounts falling due within one year

	2025 £	2024 £
Due within one year
Other payables	112	112
Accrued expenses	3,800	3,971
	3,912	4,083

8

Reserves

The revenue reserve represents cumulative surpluses or deficits.
 

9	Share capital and reserves

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	24	24	24	24