Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31falseThe principal activity of the company is of letting and operating of own or leased reat estate.2022-02-01true00falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09406663 2022-02-01 2023-01-31 09406663 2021-02-01 2022-01-31 09406663 2023-01-31 09406663 2022-01-31 09406663 c:Director1 2022-02-01 2023-01-31 09406663 d:FreeholdInvestmentProperty 2023-01-31 09406663 d:FreeholdInvestmentProperty 2022-01-31 09406663 d:FreeholdInvestmentProperty 2 2022-02-01 2023-01-31 09406663 d:CurrentFinancialInstruments 2023-01-31 09406663 d:CurrentFinancialInstruments 2022-01-31 09406663 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09406663 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09406663 d:ShareCapital 2023-01-31 09406663 d:ShareCapital 2022-01-31 09406663 d:RetainedEarningsAccumulatedLosses 2023-01-31 09406663 d:RetainedEarningsAccumulatedLosses 2022-01-31 09406663 c:FRS102 2022-02-01 2023-01-31 09406663 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09406663 c:FullAccounts 2022-02-01 2023-01-31 09406663 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure

Registered number: 09406663









PILGRIM PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
PILGRIM PROPERTIES LIMITED
REGISTERED NUMBER: 09406663

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
  
867,000
850,000

  
867,000
850,000

Current assets
  

Debtors: amounts falling due within one year
 5 
1,600
-

Cash at bank and in hand
 6 
2,436
7,336

  
4,036
7,336

Creditors: amounts falling due within one year
 7 
(699,317)
(724,481)

Net current liabilities
  
 
 
(695,281)
 
 
(717,145)

Total assets less current liabilities
  
171,719
132,855

Provisions for liabilities
  

Deferred tax
  
(14,844)
(11,614)

  
 
 
(14,844)
 
 
(11,614)

Net assets
  
156,875
121,241


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
156,775
121,141

  
156,875
121,241


Page 1

 
PILGRIM PROPERTIES LIMITED
REGISTERED NUMBER: 09406663
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 October 2023.




E Kumeyko
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PILGRIM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Pilgrim Properties Limited is a private company, limited by shares, registered in England and Wales, registered number 9406663. The registered office is 14 Kipling Close, Warley, Brentwood, CM14 5WW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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 as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
PILGRIM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the 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 method.

Page 4

 
PILGRIM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).


4.


Investment property


Investment property

£



Valuation


At 1 February 2022
850,000


Surplus on revaluation
17,000



At 31 January 2023
867,000

The 2022 valuations were made by the director, on an open market value for existing use basis.





5.


Debtors

2023
2022
£
£


Other debtors
1,600
-

1,600
-



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
2,436
7,336

2,436
7,336


Page 5

 
PILGRIM PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
6,067
8,161

Other creditors
691,690
716,320

Accruals and deferred income
1,560
-

699,317
724,481


 
Page 6