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POON PROPERTIES LTD

Unaudited Financial Statements

for the Year Ended 30 September 2023






POON PROPERTIES LTD (REGISTERED NUMBER: 10953341)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 4

Chartered Accountants' Report 5

POON PROPERTIES LTD

Company Information
for the Year Ended 30 September 2023







DIRECTORS: P S Poon
K S Poon
S M L Poon
C W S Chan



REGISTERED OFFICE: 4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



REGISTERED NUMBER: 10953341 (England and Wales)



ACCOUNTANTS: Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH



BANKERS: Barclays Bank plc
25 James Street
Harrogate
North Yorkshire
HG1 1QX

POON PROPERTIES LTD (REGISTERED NUMBER: 10953341)

Balance Sheet
30 September 2023

30.9.23 30.9.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 334,602 334,807

CURRENT ASSETS
Cash at bank and in hand 5,222 3,972

CREDITORS
Amounts falling due within one year 5 13,098 12,758
NET CURRENT LIABILITIES (7,876 ) (8,786 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

326,726

326,021

CREDITORS
Amounts falling due after more than one
year

6

321,000

321,000
NET ASSETS 5,726 5,021

CAPITAL AND RESERVES
Called up share capital 7 200 200
Retained earnings 8 5,526 4,821
SHAREHOLDERS' FUNDS 5,726 5,021

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 October 2023 and were signed on its behalf by:





P S Poon - Director


POON PROPERTIES LTD (REGISTERED NUMBER: 10953341)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. STATUTORY INFORMATION

Poon Properties Ltd 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.
Improvements to property - 2% on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

POON PROPERTIES LTD (REGISTERED NUMBER: 10953341)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and Computer
property property fittings equipment Totals
£    £    £    £    £   
COST
At 1 October 2022
and 30 September 2023 328,295 5,142 3,087 1,200 337,724
DEPRECIATION
At 1 October 2022 - - 1,718 1,199 2,917
Charge for year - - 205 - 205
At 30 September 2023 - - 1,923 1,199 3,122
NET BOOK VALUE
At 30 September 2023 328,295 5,142 1,164 1 334,602
At 30 September 2022 328,295 5,142 1,369 1 334,807

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.23 30.9.22
£    £   
Tax 214 493
Directors' loan accounts 11,649 11,205
Accrued expenses 1,235 1,060
13,098 12,758

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.23 30.9.22
£    £   
Directors Loan 321,000 321,000

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.23 30.9.22
value: £    £   
140 Ordinary A Shares £1 140 140
60 Ordinary B Shares £1 60 60
200 200

8. RESERVES
Retained
earnings
£   

At 1 October 2022 4,821
Profit for the year 705
At 30 September 2023 5,526

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Poon Properties Ltd


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Poon Properties Ltd for the year ended 30 September 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Poon Properties Ltd, as a body, in accordance with the terms of our engagement letter dated 9 September 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Poon Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Poon Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Poon Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Poon Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Poon Properties Ltd. You consider that Poon Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Poon Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Botros & Co
Chartered Accountants
4 Northwest Business Park
Servia Hill
Leeds
West Yorkshire
LS6 2QH


12 October 2023