2022-02-012023-01-312023-01-31false03698047PONDSIDE PROPERTIES 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PONDSIDE PROPERTIES LIMITED

Registered Number
03698047
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2023

PONDSIDE PROPERTIES LIMITED
Company Information
for the year from 1 February 2022 to 31 January 2023

Director

C. Klein

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

03698047 (England and Wales)
PONDSIDE PROPERTIES LIMITED
Balance Sheet as at
31 January 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets69961,327
Investment property74,412,1064,369,606
4,413,1024,370,933
Current assets
Debtors87,3405,387
Cash at bank and on hand41,97228,013
49,31233,400
Creditors amounts falling due within one year9(1,275,897)(1,265,367)
Net current assets (liabilities)(1,226,585)(1,231,967)
Total assets less current liabilities3,186,5173,138,966
Creditors amounts falling due after one year10(429,567)(429,567)
Provisions for liabilities11(236,643)(236,700)
Net assets2,520,3072,472,699
Capital and reserves
Called up share capital100100
Revaluation reserve2,138,2952,138,295
Profit and loss account381,912334,304
Shareholders' funds2,520,3072,472,699
The financial statements were approved and authorised for issue by the Director on 6 October 2023, and are signed on its behalf by:
C. Klein
Director
Registered Company No. 03698047
PONDSIDE PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 January 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of property investment.
4.Accounting policies
Turnover policy
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investment property policy
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Taxation policy
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 statement of financial position date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year12
6.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 February 2221,63321,633
At 31 January 2321,63321,633
Depreciation and impairment
At 01 February 2220,30620,306
Charge for year331331
At 31 January 2320,63720,637
Net book value
At 31 January 23996996
At 31 January 221,3271,327
7.Investment property
The fair value of the property at January 2023 has been arrived at on the basis of a valuation carried out at that date by the directors, who are not a professionally qualified valuer. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in the location.

£
Fair value at 01 February 224,369,606
Additions42,500
At 31 January 234,412,106
8.Debtors

2023

2022

££
Prepayments and accrued income7,3405,387
Total7,3405,387
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables4,6981,171
Amounts owed to related parties1,213,3601,213,360
Taxation and social security17,1607,359
Other creditors37,03535,417
Accrued liabilities and deferred income3,6448,060
Total1,275,8971,265,367
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts429,567429,567
Total429,567429,567
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)236,643236,700
Total236,643236,700