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REGISTERED NUMBER: 08751374 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PERCY HARVEY PROPERTIES LIMITED

PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)






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




Page

Company Information 1

Balance Sheet 2

Statement of Changes in Equity 4

Notes to the Financial Statements 5


PERCY HARVEY PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: Mrs J A J Bensouilah
Mr P Harvey
Mr D Harvey
Ms E E Thomason





REGISTERED OFFICE: 19 Monument Green
Weybridge
Surrey
KT13 8QT





REGISTERED NUMBER: 08751374 (England and Wales)





ACCOUNTANTS: David Beckman & Co Ltd
62 The Street
Ashtead
Surrey
KT21 1AT

PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 2,227,500 2,345,000

CURRENT ASSETS
Debtors 5 488 3,754
Cash at bank 189,620 128,356
190,108 132,110
CREDITORS
Amounts falling due within one year 6 (665,399 ) (641,547 )
NET CURRENT LIABILITIES (475,291 ) (509,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,752,209

1,835,563

PROVISIONS FOR LIABILITIES (373,168 ) (305,933 )
NET ASSETS 1,379,041 1,529,630

CAPITAL AND RESERVES
Called up share capital 4 4
Other reserves 1,119,501 1,304,236
Retained earnings 259,536 225,390
1,379,041 1,529,630

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

BALANCE SHEET - continued
31 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2023 and were signed on its behalf by:





Mrs J A J Bensouilah - Director


PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   

Balance at 1 April 2021 4 205,274 1,207,626 1,412,904

Changes in equity
Dividends - (20,000 ) - (20,000 )
Total comprehensive income - 136,726 - 136,726
Deferred tax adjustment - (96,610 ) 96,610 -
Balance at 31 March 2022 4 225,390 1,304,236 1,529,630

Changes in equity
Dividends - (64,000 ) - (64,000 )
Total comprehensive income - (86,589 ) - (86,589 )
Deferred tax adjustment - 67,235 (67,235 ) -
Fair value adjustment to
non-distributable reserve - 117,500 (117,500 ) -
Balance at 31 March 2023 4 259,536 1,119,501 1,379,041

PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

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

1. STATUTORY INFORMATION

Percy Harvey Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Percy Harvey Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates
The investment properties are revalued annually by the directors using the comparative method basis by comparing open market values of similar properties in the local area. Any impairment or revaluation is reflected in the accounts at the year end.

Changes in accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and have also been consistently applied within the same accounts.

Turnover
Turnover represents revenue recognised by the company in respect of rental income received during the year, exclusive of discounts. Revenue is recognised over the rental period.

Investment property
Investment properties are included in the balance sheet at their fair value in accordance with FRS102 and are not depreciated.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially recognised at transaction price less any impairment.

Basic financial liabilities
Basic financial liabilities, including creditors and loans repayable on demand, are initially recognised at transaction price.


PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Under FRS102, deferred taxation is provided on the revaluation of the investment properties

Reserves
Unrealised fair value gains and losses in the year are transferred from the profit and loss reserve to a non-distributable reserve net of the related deferred tax provision .

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 2,345,000
Additions 12,500
Disposals (12,500 )
Impairments (117,500 )
At 31 March 2023 2,227,500
NET BOOK VALUE
At 31 March 2023 2,227,500
At 31 March 2022 2,345,000

PERCY HARVEY PROPERTIES LIMITED (REGISTERED NUMBER: 08751374)

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

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 380,000
Valuation in 2023 380,000
Valuation in 2023 380,000
Valuation in 2023 227,500
Valuation in 2023 285,000
Valuation in 2023 220,000
Valuation in 2023 355,000
2,227,500

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 734,830 734,830
Aggregate depreciation (131,412 ) (118,596 )

The investment properties were valued on the comparative method basis on 31 March 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 488 3,754

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to joint ventures 117,674 121,628
Taxation and social security 24,446 9,410
Other creditors 523,279 510,509
665,399 641,547

7. RELATED PARTY DISCLOSURES

The directors have provided the company with loans totalling £378,500 (2022: £366,000). The loans are repayable on demand and incur interest at 3% p.a.