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COMPANY REGISTRATION NUMBER: 07478626
P B B PROPERTIES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2022
P B B PROPERTIES LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
CONTENTS
PAGE
Statement of financial position
1
Notes to the financial statements
3
P B B PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2022
2022
2021
Note
£
£
£
£
CURRENT ASSETS
Stocks
591,987
676,826
Cash at bank and in hand
163,293
2,272
----------
----------
755,280
679,098
CREDITORS: amounts falling due within one year
5
583,686
715,931
----------
----------
NET CURRENT ASSETS/(LIABILITIES)
171,594
( 36,833)
----------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
171,594
( 36,833)
CREDITORS: amounts falling due after more than one year
6
200,000
----------
---------
NET LIABILITIES
( 28,406)
( 36,833)
----------
---------
P B B PROPERTIES LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2022
2022
2021
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 28,506)
( 36,933)
---------
---------
SHAREHOLDERS DEFICIT
( 28,406)
( 36,833)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 September 2023 , and are signed on behalf of the board by:
Mrs P B Brown
Director
Company registration number: 07478626
P B B PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Equitable House, 55 Pellon Lane, Halifax, West Yorkshire, HX1 5SP.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The continuation of the company's activities is dependent on the continuing financial support of the directors, the bank and other creditors. The directors have confirmed that in their opinion, this financial support will continue and therefore the financial statements have been prepared on the going concern basis.
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. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
Current and deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4. STAFF NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2021: 1).
5. CREDITORS: amounts falling due within one year
2022
2021
£
£
Other creditors
583,686
715,931
----------
----------
6. CREDITORS: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
200,000
----------
----
The following liabilities disclosed under creditors falling due after more than one year are secured by the company:
2022
2021
£
£
Bank loan
200,000
Nil
----------
----
7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.