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REGISTERED NUMBER: 10543419 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

P & P RESIDENTIAL LIMITED

P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

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


P & P RESIDENTIAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: Mr P D Joly
Mr P S Pope





REGISTERED OFFICE: Solar House
282 Chase Road
London
N14 6NZ





REGISTERED NUMBER: 10543419 (England and Wales)





ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ

P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

BALANCE SHEET
31 JANUARY 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 740,000 740,000

CURRENT ASSETS
Debtors 5 1,285 1,208
Cash at bank 2,931 4,176
4,216 5,384
CREDITORS
Amounts falling due within one year 6 212,268 204,302
NET CURRENT LIABILITIES (208,052 ) (198,918 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

531,948

541,082

CREDITORS
Amounts falling due after more than one
year

7

(530,316

)

(530,316

)

PROVISIONS FOR LIABILITIES (751 ) (751 )
NET ASSETS 881 10,015

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 781 9,915
SHAREHOLDERS' FUNDS 881 10,015

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.

P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by:





Mr P D Joly - Director


P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023


1. STATUTORY INFORMATION

P & P Residential 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. 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 represents amounts derived from rents charged to tenants during the year, and is recognised at the date the rental period occurred.

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 Statement of Income and Retained Earnings, 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 ) .

P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022
and 31 January 2023 740,000
NET BOOK VALUE
At 31 January 2023 740,000
At 31 January 2022 740,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2021 25,856
Cost 714,144
740,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Prepayments 1,285 1,208

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Trade creditors 589 180
Amount due to related party 105,466 102,457
Directors' loan accounts 104,063 100,705
Accrued expenses 2,150 960
212,268 204,302

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans (see note 8) 530,316 530,316

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 530,316 530,316

P & P RESIDENTIAL LIMITED (REGISTERED NUMBER: 10543419)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023


8. LOANS

An analysis of the maturity of loans is given below:

31.1.23 31.1.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 530,316 530,316

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 530,316 530,316

The bank loans is secured by a legal charge over the investment property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary 1 100 100

11. RESERVES

£

Distributable reserves(25,886)
Non distributable reserves25,105
At 31st January 2023781