IRIS Accounts Production v23.2.0.158 11775578 Board of Directors Board of Directors 1.2.22 31.1.23 31.1.23 false true false false true false Fair value model Ordinary 0.10000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh117755782022-01-31117755782023-01-31117755782022-02-012023-01-31117755782021-01-31117755782021-02-012022-01-31117755782022-01-3111775578ns10:Originalns15:EnglandWales2022-02-012023-01-3111775578ns14:PoundSterlingns10:Original2022-02-012023-01-3111775578ns10:Originalns10:Director12022-02-012023-01-3111775578ns10:Original2022-02-012023-01-3111775578ns10:Originalns10:Director22022-02-012023-01-3111775578ns10:Original2023-01-3111775578ns10:Originalns10:PrivateLimitedCompanyLtd2022-02-012023-01-3111775578ns10:Originalns10:SmallEntities2022-02-012023-01-3111775578ns10:Originalns10:AuditExempt-NoAccountantsReport2022-02-012023-01-3111775578ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-02-012023-01-3111775578ns10:SmallCompaniesRegimeForAccountsns10:Original2022-02-012023-01-3111775578ns10:Originalns10:FullAccounts2022-02-012023-01-3111775578ns10:Originalns10:OrdinaryShareClass12022-02-012023-01-3111775578ns10:Originalns10:RegisteredOffice2022-02-012023-01-3111775578ns10:Original2022-01-3111775578ns10:Originalns5:CurrentFinancialInstruments2023-01-3111775578ns10:Originalns5:CurrentFinancialInstruments2022-01-3111775578ns5:ShareCapitalns10:Original2023-01-3111775578ns5:ShareCapitalns10:Original2022-01-3111775578ns10:Originalns5:SharePremium2023-01-3111775578ns10:Originalns5:SharePremium2022-01-3111775578ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-01-3111775578ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-01-3111775578ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-01-3111775578ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3111775578ns10:Original2021-02-012022-01-3111775578ns10:Originalns5:MotorVehicles2022-02-012023-01-3111775578ns10:Originalns5:MotorVehicles2023-01-3111775578ns10:Original2022-01-3111775578ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-01-3111775578ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-01-3111775578ns10:Originalns5:DeferredTaxation2022-01-3111775578ns10:Originalns5:DeferredTaxation2022-02-012023-01-3111775578ns10:Originalns5:DeferredTaxation2023-01-3111775578ns10:Originalns10:OrdinaryShareClass12023-01-3111775578ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-01-3111775578ns10:Originalns5:SharePremium2022-01-3111775578ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-01-3111775578ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-012023-01-31
REGISTERED NUMBER: 11775578 (England and Wales)

















Unaudited Financial Statements

For The Year Ended 31 January 2023

for

Piglettings Ltd

Piglettings Ltd (Registered number: 11775578)

Contents of the Financial Statements
For The Year Ended 31 January 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Piglettings Ltd

Company Information
For The Year Ended 31 January 2023







DIRECTORS: K Bayford
Ms K Larcher





REGISTERED OFFICE: 10-12 Mulberry Green
Harlow
Essex
CM17 0ET





REGISTERED NUMBER: 11775578 (England and Wales)





ACCOUNTANTS: Giess Wallis Crisp LLP
10-12 Mulberry Green
Old Harlow
Essex
CM17 0ET

Piglettings Ltd (Registered number: 11775578)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 38,437 -
Investment property 5 1,136,477 1,087,977
1,174,914 1,087,977

CURRENT ASSETS
Debtors 6 535,000 7,805
Cash at bank 6,466 403,847
541,466 411,652
CREDITORS
Amounts falling due within one year 7 696,120 527,885
NET CURRENT LIABILITIES (154,654 ) (116,233 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,020,260

971,744

PROVISIONS FOR LIABILITIES 8 49,625 28,500
NET ASSETS 970,635 943,244

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Share premium 10 819,100 819,100
Fair value reserve 10 148,875 121,500
Retained earnings 10 1,660 1,644
SHAREHOLDERS' FUNDS 970,635 943,244

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

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

Piglettings Ltd (Registered number: 11775578)

Balance Sheet - continued
31 January 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 10 October 2023 and were signed on its behalf by:




Ms K Larcher - Director



K Bayford - Director


Piglettings Ltd (Registered number: 11775578)

Notes to the Financial Statements
For The Year Ended 31 January 2023


1. STATUTORY INFORMATION

Piglettings 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 as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no estimates and assumptions which have had a significant risk of causing a material adjustment to the carrying amount of assets and liabilities

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Financial instruments
The company has elected to apply the provisions of Section 11:'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities such as trade debtors and creditors.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Debtors
Short terms debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by current accounts, 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.

Creditors
Short term creditors are measured at the transaction price.


Piglettings Ltd (Registered number: 11775578)

Notes to the Financial Statements - continued
For The Year Ended 31 January 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
Additions 41,000
At 31 January 2023 41,000
DEPRECIATION
Charge for year 2,563
At 31 January 2023 2,563
NET BOOK VALUE
At 31 January 2023 38,437

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 1,087,977
Revaluations 48,500
At 31 January 2023 1,136,477
NET BOOK VALUE
At 31 January 2023 1,136,477
At 31 January 2022 1,087,977

Piglettings Ltd (Registered number: 11775578)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2023


5. INVESTMENT PROPERTY - continued

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2022 150,000
Valuation in 2023 48,500
Cost 937,977
1,136,477

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 937,977 937,977

Investment property was valued on an open market basis on 31 January 2023 by the Directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 7,805
Other debtors 535,000 -
535,000 7,805

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 500,008 491,930
Taxation and social security - 386
Other creditors 196,112 35,569
696,120 527,885

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 49,625 28,500

Deferred
tax
£   
Balance at 1 February 2022 28,500
Provided during year 21,125
Balance at 31 January 2023 49,625

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £0.10 1,000 1,000

Piglettings Ltd (Registered number: 11775578)

Notes to the Financial Statements - continued
For The Year Ended 31 January 2023


10. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 February 2022 1,644 819,100 121,500 942,244
Profit for the year 27,391 27,391
Fair value uplift (48,500 ) - 48,500 -
Tax on fair value uplift 21,125 - (21,125 ) -
At 31 January 2023 1,660 819,100 148,875 969,635