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REGISTERED NUMBER: 04111836 (England and Wales)















P & M PROPERTY DEVELOPMENT LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023






P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


P & M PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MARCH 2023







DIRECTORS: P J Griffiths
S G Griffiths





SECRETARY: S G Griffiths





REGISTERED OFFICE: Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU





REGISTERED NUMBER: 04111836 (England and Wales)





ACCOUNTANTS: Green & Co
Chartered Certified Accountants
Pembroke House
Llantarnam Park Way
Cwmbran
Torfaen
NP44 3AU

P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)

BALANCE SHEET
31ST MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 673,922 550,000

CURRENT ASSETS
Debtors 5 4,552 2,606
Cash at bank and in hand 2,123 29,595
6,675 32,201
CREDITORS
Amounts falling due within one year 6 123,535 9,833
NET CURRENT (LIABILITIES)/ASSETS (116,860 ) 22,368
TOTAL ASSETS LESS CURRENT
LIABILITIES

557,062

572,368

PROVISIONS FOR LIABILITIES 47,360 47,360
NET ASSETS 509,702 525,008

CAPITAL AND RESERVES
Called up share capital 7 100 100
Revaluation reserve 8 201,902 201,902
Retained earnings 307,700 323,006
SHAREHOLDERS' FUNDS 509,702 525,008

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)

BALANCE SHEET - continued
31ST MARCH 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26th July 2023 and were signed on its behalf by:





P J Griffiths - Director


P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2023

1. STATUTORY INFORMATION

P & M Property Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST
At 1st April 2022 550,000
Additions 123,922
At 31st March 2023 673,922
NET BOOK VALUE
At 31st March 2023 673,922
At 31st March 2022 550,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,102 1,746
Other debtors - 360
Prepayments 2,450 500
4,552 2,606

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors - 2,080
Corporation Tax - 1,121
Social security and other taxes 89 869
VAT 2,547 1,685
Other creditors 2,065 1,304
Directors' current accounts 106,139 456
Accruals and deferred income 12,695 2,318
123,535 9,833

P & M PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 04111836)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MARCH 2023

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. RESERVES
Revaluation
reserve
£   
At 1st April 2022
and 31st March 2023 201,902

9. RELATED PARTY DISCLOSURES

The company had an outstanding directors loan account at the year end due to Mr S G Griffiths of £51,733 (2022 - £144) and due to Mr P J Griffiths of £54,406 (2022 - £312).