Silverfin false 31/03/2022 31/03/2022 01/04/2021 Philip Albert John Reyland 13/02/1997 01 September 2022 The principal activity of the Company during the financial year was the holding of an investment property portfolio. 03318244 2022-03-31 03318244 bus:Director1 2022-03-31 03318244 2021-03-31 03318244 core:CurrentFinancialInstruments 2022-03-31 03318244 core:CurrentFinancialInstruments 2021-03-31 03318244 core:ShareCapital 2022-03-31 03318244 core:ShareCapital 2021-03-31 03318244 core:FurtherSpecificReserve1ComponentTotalEquity 2022-03-31 03318244 core:FurtherSpecificReserve1ComponentTotalEquity 2021-03-31 03318244 core:RetainedEarningsAccumulatedLosses 2022-03-31 03318244 core:RetainedEarningsAccumulatedLosses 2021-03-31 03318244 2021-04-01 2022-03-31 03318244 bus:FullAccounts 2021-04-01 2022-03-31 03318244 bus:SmallEntities 2021-04-01 2022-03-31 03318244 bus:AuditExemptWithAccountantsReport 2021-04-01 2022-03-31 03318244 bus:PrivateLimitedCompanyLtd 2021-04-01 2022-03-31 03318244 bus:Director1 2021-04-01 2022-03-31 03318244 2020-04-01 2021-03-31 iso4217:GBP xbrli:pure

Company No: 03318244 (England and Wales)

P REYLAND PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2022
Pages for filing with the registrar

P REYLAND PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2022

Contents

P REYLAND PROPERTIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2022
P REYLAND PROPERTIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2022
DIRECTOR Philip Albert John Reyland
SECRETARY Rosalind Clare Reyland
REGISTERED OFFICE Rock House
5 Palmer Street
South Petherton
TA13 5DB
United Kingdom
COMPANY NUMBER 03318244 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
P REYLAND PROPERTIES LIMITED

BALANCE SHEET

As at 31 March 2022
P REYLAND PROPERTIES LIMITED

BALANCE SHEET (continued)

As at 31 March 2022
Note 2022 2021
£ £
Fixed assets
Investment property 3 2,161,000 2,227,895
2,161,000 2,227,895
Current assets
Debtors 4 800 0
Cash at bank and in hand 898,629 828,889
899,429 828,889
Creditors
Amounts falling due within one year 5 ( 66,750) ( 45,178)
Net current assets 832,679 783,711
Total assets less current liabilities 2,993,679 3,011,606
Provision for liabilities ( 10,936) ( 19,094)
Net assets 2,982,743 2,992,512
Capital and reserves
Called-up share capital 10,000 10,000
Fair value reserve 250,616 309,353
Profit and loss account 2,722,127 2,673,159
Total shareholders' funds 2,982,743 2,992,512

For the financial year ending 31 March 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of P Reyland Properties Limited (registered number: 03318244) were approved and authorised for issue by the Director on 01 September 2022. They were signed on its behalf by:

Philip Albert John Reyland
Director
P REYLAND PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
P REYLAND PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

P Reyland Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Rock House, 5 Palmer Street, South Petherton, TA13 5DB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for rents in relation to investment properties which is recognised in the period of occupation of the property by the tenant. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Investment property

Investment property
£
Valuation
As at 01 April 2021 2,227,895
Fair value movement (66,895)
As at 31 March 2022 2,161,000

Historic cost

If the investment properties had been accounted for using cost accounting rules, the properties would have been measured at a cost of £1,899,448 (2021 - £1,899,448).

4. Debtors

2022 2021
£ £
Other debtors 800 0

5. Creditors: amounts falling due within one year

2022 2021
£ £
Trade creditors 0 280
Other creditors 55,934 31,212
Corporation tax 10,816 13,686
66,750 45,178

6. Related party transactions

Transactions with the entity's director

Advances

The Director's loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2020, the balance was £292,638. During the year, £5,143 was advanced to the director, and £297,781 was repaid by the director.