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REGISTERED NUMBER: 12608223 (England and Wales)















P & N Property (Bristol) Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023






P & N Property (Bristol) Limited (Registered number: 12608223)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


P & N Property (Bristol) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P E Pomphrey
N J Pomphrey



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 12608223 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: Lloyds Bank plc
20 Badminton Road
Downend
Bristol
BS16 6BW

P & N Property (Bristol) Limited (Registered number: 12608223)

Abridged Statement of Financial Position
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - 241,228
Investment property 6 809,741 1,298,226
809,741 1,539,454

CURRENT ASSETS
Debtors 511,345 13,369
Cash at bank 279,893 14,470
791,238 27,839
CREDITORS
Amounts falling due within one year 50,683 5,922
NET CURRENT ASSETS 740,555 21,917
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,550,296

1,561,371

CAPITAL AND RESERVES
Called up share capital 1,548,226 1,548,226
Retained earnings 2,070 13,145
SHAREHOLDERS' FUNDS 1,550,296 1,561,371

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

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

P & N Property (Bristol) Limited (Registered number: 12608223)

Abridged Statement of Financial Position - continued
31 May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 September 2023 and were signed on its behalf by:





P E Pomphrey - Director


P & N Property (Bristol) Limited (Registered number: 12608223)

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

1. STATUTORY INFORMATION

P & N Property (Bristol) 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.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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.
Land and buildings - over life of lease

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

P & N Property (Bristol) Limited (Registered number: 12608223)

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

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2022 250,000
Disposals (250,000 )
At 31 May 2023 -
DEPRECIATION
At 1 June 2022 8,772
Eliminated on disposal (8,772 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 241,228

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 1,298,226
Disposals (488,485 )
At 31 May 2023 809,741
NET BOOK VALUE
At 31 May 2023 809,741
At 31 May 2022 1,298,226

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
N J Pomphrey
Balance outstanding at start of year 4,200 52,000
Amounts advanced 144,105 12,200
Amounts repaid (80,000 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 68,305 4,200

P & N Property (Bristol) Limited (Registered number: 12608223)

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

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

P E Pomphrey
Balance outstanding at start of year 8,400 49,600
Amounts advanced 141,200 16,400
Amounts repaid (80,000 ) (57,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 69,600 8,400