Silverfin false 31/01/2022 31/01/2022 01/02/2021 Mr Matthew Franks 28/11/2019 Mr Miles Lovegrove 28/11/2019 Mr Ross Sundercombe 30/03/2017 28 June 2022 The principal activity of the Company during the financial year was property development. 08864085 2022-01-31 08864085 bus:Director1 2022-01-31 08864085 bus:Director2 2022-01-31 08864085 bus:Director3 2022-01-31 08864085 2021-01-31 08864085 core:CurrentFinancialInstruments 2022-01-31 08864085 core:CurrentFinancialInstruments 2021-01-31 08864085 core:Non-currentFinancialInstruments 2022-01-31 08864085 core:Non-currentFinancialInstruments 2021-01-31 08864085 core:ShareCapital 2022-01-31 08864085 core:ShareCapital 2021-01-31 08864085 core:RevaluationReserve 2022-01-31 08864085 core:RevaluationReserve 2021-01-31 08864085 core:CapitalRedemptionReserve 2022-01-31 08864085 core:CapitalRedemptionReserve 2021-01-31 08864085 core:RetainedEarningsAccumulatedLosses 2022-01-31 08864085 core:RetainedEarningsAccumulatedLosses 2021-01-31 08864085 core:Vehicles 2021-01-31 08864085 core:FurnitureFittings 2021-01-31 08864085 core:OtherPropertyPlantEquipment 2021-01-31 08864085 core:Vehicles 2022-01-31 08864085 core:FurnitureFittings 2022-01-31 08864085 core:OtherPropertyPlantEquipment 2022-01-31 08864085 bus:OrdinaryShareClass1 2022-01-31 08864085 bus:OrdinaryShareClass2 2022-01-31 08864085 2021-02-01 2022-01-31 08864085 bus:FullAccounts 2021-02-01 2022-01-31 08864085 bus:SmallEntities 2021-02-01 2022-01-31 08864085 bus:AuditExemptWithAccountantsReport 2021-02-01 2022-01-31 08864085 bus:PrivateLimitedCompanyLtd 2021-02-01 2022-01-31 08864085 bus:Director1 2021-02-01 2022-01-31 08864085 bus:Director2 2021-02-01 2022-01-31 08864085 bus:Director3 2021-02-01 2022-01-31 08864085 core:Vehicles core:BottomRangeValue 2021-02-01 2022-01-31 08864085 core:Vehicles core:TopRangeValue 2021-02-01 2022-01-31 08864085 core:FurnitureFittings core:BottomRangeValue 2021-02-01 2022-01-31 08864085 core:FurnitureFittings core:TopRangeValue 2021-02-01 2022-01-31 08864085 core:OtherPropertyPlantEquipment core:BottomRangeValue 2021-02-01 2022-01-31 08864085 core:OtherPropertyPlantEquipment core:TopRangeValue 2021-02-01 2022-01-31 08864085 2020-02-01 2021-01-31 08864085 core:Vehicles 2021-02-01 2022-01-31 08864085 core:FurnitureFittings 2021-02-01 2022-01-31 08864085 core:OtherPropertyPlantEquipment 2021-02-01 2022-01-31 08864085 bus:OrdinaryShareClass1 2021-02-01 2022-01-31 08864085 bus:OrdinaryShareClass1 2020-02-01 2021-01-31 08864085 bus:OrdinaryShareClass2 2021-02-01 2022-01-31 08864085 bus:OrdinaryShareClass2 2020-02-01 2021-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08864085 (England and Wales)

PVM PROPERTY LIMITED

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

PVM PROPERTY LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2022

Contents

PVM PROPERTY LIMITED

BALANCE SHEET

As at 31 January 2022
PVM PROPERTY LIMITED

BALANCE SHEET (continued)

As at 31 January 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 58,930 46,768
Investment property 303,501 303,501
362,431 350,269
Current assets
Stocks 2,011,737 900,789
Debtors 4 381,769 154,412
Cash at bank and in hand 5 18,196 24,882
2,411,702 1,080,083
Creditors
Amounts falling due within one year 6 ( 1,754,020) ( 967,595)
Net current assets 657,682 112,488
Total assets less current liabilities 1,020,113 462,757
Creditors
Amounts falling due after more than one year 7 ( 177,363) ( 163,020)
Provisions for liabilities ( 14,733) ( 8,886)
Net assets 828,017 290,851
Capital and reserves
Called-up share capital 8 70 70
Revaluation reserve 144,223 144,223
Capital redemption reserve 30 30
Profit and loss account 683,694 146,528
Total shareholders' funds 828,017 290,851

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

Directors' responsibilities:

The financial statements of PVM Property Limited (registered number: 08864085) were approved and authorised for issue by the Board of Directors on 28 June 2022. They were signed on its behalf by:

Mr Ross Sundercombe
Director
PVM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2022
PVM PROPERTY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 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

PVM Property 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 C/O Fluid Branding - Unit 31, Esam Carluddon Technology Park, Carluddon, St. Austell, PL26 8WE, England, 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 stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

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.

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 average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Vehicles 4 - 4 years straight line
Fixtures and fittings 5 - 15 years straight line
Other property, plant and equipment 20 - 20 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. [MANUFACTURERS, ETC - Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.] Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

3. Tangible assets

Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £
Cost
At 01 February 2021 0 64,424 19,800 84,224
Additions 23,500 0 0 23,500
At 31 January 2022 23,500 64,424 19,800 107,724
Accumulated depreciation
At 01 February 2021 0 30,526 6,930 37,456
Charge for the financial year 5,875 4,473 990 11,338
At 31 January 2022 5,875 34,999 7,920 48,794
Net book value
At 31 January 2022 17,625 29,425 11,880 58,930
At 31 January 2021 0 33,898 12,870 46,768

4. Debtors

2022 2021
£ £
Trade debtors 32,584 6,057
Other debtors 349,185 148,355
381,769 154,412

5. Cash and cash equivalents

2022 2021
£ £
Cash at bank and in hand 18,196 24,882

6. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans 10,000 39,324
Trade creditors 44,797 96,638
Other creditors 1,559,978 825,919
Corporation tax 131,710 1,211
Other taxation and social security 7,535 4,503
1,754,020 967,595

7. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 177,363 158,020
Other creditors 0 5,000
177,363 163,020

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
60 Ordinary A shares of £ 1.00 each 60 60
10 Ordinary B shares of £ 1.00 each 10 10
70 70

9. Financial commitments

Other financial commitments

2022 2021
£ £
0 956,987

10. Related party transactions

Transactions with the entity's directors

Transactions with directors
During the year the company made sales of £8,317 (2021 - £12,085) to the directors. At the year end there is an amount of £5,358 (2021 - £5,251) within trade debtors relating to these sales. This has been paid post year end.

Summary of transactions with parent company
During the year the company made sales of £1,627 (2021 - £179,489) to its parent company, Brand Division Limited, and received payments of £575 (2021 - £206,143). At the year end there was a balance of £1,513 (2021 - £461) due from Brand Division Limited and included within the trade debtors balance in the accounts.

Other related party transactions

2022 2021
£ £
At start of period 123,818 295
Advances 149,993 138,423
Repayments 0 (14,900)
At end of period 273,811 123,818

Of this balance, £nil (2021 - £295) relates to shareholders of the company and £273,811 (2021 - £123,523) relates to companies under common control.