REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2021 |
for |
Pickhurst Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2021 |
for |
Pickhurst Properties Limited |
Pickhurst Properties Limited (Registered number: 08447157) |
Contents of the Financial Statements |
for the Year Ended 30 September 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Pickhurst Properties Limited |
Company Information |
for the Year Ended 30 September 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Old Grange |
Warren Estate |
Lordship Road |
Writtle |
Essex |
CM1 3WT |
Pickhurst Properties Limited (Registered number: 08447157) |
Balance Sheet |
30 September 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Pickhurst Properties Limited (Registered number: 08447157) |
Balance Sheet - continued |
30 September 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Pickhurst Properties Limited (Registered number: 08447157) |
Notes to the Financial Statements |
for the Year Ended 30 September 2021 |
1. | STATUTORY INFORMATION |
Pickhurst Properties Limited is a |
The company is part of a group. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
No significant judgements or estimates have been applied in the preparation of the financial statements. |
Revenue |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated deprecation and accumulated impairment losses. |
Depreciation is provided at the following annual rates, in order to write off each asset over its estimated useful life: |
Plant and machinery etc - 20% on reducing balance |
Government grants |
Grants are accounted under the accruals model as permitted by FRS 102. |
The deferred element of grants is included in creditors as deferred income. |
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure. |
Investment property |
The investment properties are included at fair value. Gains are recognised in the income statement and subsequently transferred to the fair value reserve. Deferred taxation is provided on these gains at the rate expected to apply when the properties are sold. |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like other debtors and creditors, loans from banks and other third partie and loans to related parties. |
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 balance sheet date. |
Pickhurst Properties Limited (Registered number: 08447157) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
Revenue |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. |
Debtors |
Short terms debtors are measured at transaction price, less any impairment. |
Creditors |
Short terms creditors are measured at transaction price. |
Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest rate method. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 October 2020 |
and 30 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for year |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
Pickhurst Properties Limited (Registered number: 08447157) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
COST OR VALUATION |
At 1 October 2020 |
Additions |
Revaluations |
At 30 September 2021 |
NET BOOK VALUE |
At 30 September 2021 |
At 30 September 2020 |
Cost or valuation at 30 September 2021 is represented by: |
£ |
Valuation in 2014 | 36,851 |
Valuation in 2015 | 30,000 |
Valuation in 2017 | 25,000 |
Valuation in 2018 | 20,000 |
Valuation in 2019 | 60,317 |
Valuation in 2021 | 44,068 |
Cost | 383,764 |
600,000 |
If the investment property had not been revalued it would have been included at the following historical cost: |
2021 | 2020 |
£ | £ |
Cost | 383,764 | 377,832 |
The investment property was valued on an open market basis on 30 September 2021 by the Director . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
Pickhurst Properties Limited (Registered number: 08447157) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2021 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
Amounts owed to group undertakings |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | - | 5,833 |
9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 September 2021 and 30 September 2020: |
2021 | 2020 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |