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REGISTERED NUMBER: 07937547 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Pinecrest Limited

Pinecrest Limited (Registered number: 07937547)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Pinecrest Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr I E Pentecost
Mrs D C Pentecost
Mr J Pentecost
Mr A Pentecost
Miss H L Pentecost





REGISTERED OFFICE: 78 St. Margaret's Street
Rochester
Kent
ME1 3BJ





REGISTERED NUMBER: 07937547 (England and Wales)





ACCOUNTANTS: Accsys Accountants (Medway) Limited
F39 Innovation Centre Medway
Chatham
Kent
ME5 9FD

Pinecrest Limited (Registered number: 07937547)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 580,000 580,000

CURRENT ASSETS
Debtors 5 71 1,722
Cash at bank 19,723 28,860
19,794 30,582
CREDITORS
Amounts falling due within one year 6 356,667 380,091
NET CURRENT LIABILITIES (336,873 ) (349,509 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

243,127

230,491

CREDITORS
Amounts falling due after more than one
year

7

99,457

102,884
NET ASSETS 143,670 127,607

CAPITAL AND RESERVES
Called up share capital 600 600
Fair value reserve 9 29,488 29,488
Retained earnings 113,582 97,519
143,670 127,607

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.

Pinecrest Limited (Registered number: 07937547)

Statement of Financial Position - 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 Income Statement has not been delivered.

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




Mr I E Pentecost - Director



Mrs D C Pentecost - Director


Pinecrest Limited (Registered number: 07937547)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Pinecrest 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 (£).


These financial statements relate to the individual entity only.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
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
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
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.

Operating lease income
Income from operating leases is recognised on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Pinecrest Limited (Registered number: 07937547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 580,000
NET BOOK VALUE
At 31 March 2023 580,000
At 31 March 2022 580,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2023 580,000

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

31.3.23 31.3.22
£    £   
Cost 550,511 550,511

The investment properties were valued on an open market basis on 31 March 2023 by the directors. .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors - 1,661
Prepayments 71 61
71 1,722

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 3,452 14,549
Taxation and social security 10,585 10,135
Other creditors 342,630 355,407
356,667 380,091

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 99,457 102,884

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 80,094 84,240

Pinecrest Limited (Registered number: 07937547)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 102,909 117,433

The bank loans are secured by charges over the company's freehold properties.

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022
and 31 March 2023 29,488