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REGISTERED NUMBER: 06623753 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Purdey Lorimer Limited

Purdey Lorimer Limited (Registered number: 06623753)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Purdey Lorimer Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: Mrs E J Wright





REGISTERED OFFICE: First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU





BUSINESS ADDRESS: 42 Arundel Drive East
Saltdean
Brighton
BN2 8SL





REGISTERED NUMBER: 06623753 (England and Wales)





ACCOUNTANTS: Deeks Evans Audit Services Limited
Chartered Accountants
First Floor, West Barn
North Frith Farm, Ashes Lane
Hadlow
Tonbridge
Kent
TN11 9QU

Purdey Lorimer Limited (Registered number: 06623753)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 3,741,000 2,307,914
3,741,000 2,307,914

CURRENT ASSETS
Debtors 6 10,043 2,787
Cash at bank and in hand 62,115 93,015
72,158 95,802
CREDITORS
Amounts falling due within one year 7 1,104,300 1,885,103
NET CURRENT LIABILITIES (1,032,142 ) (1,789,301 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,708,858

518,613

CREDITORS
Amounts falling due after more than one
year

8

733,600

-
NET ASSETS 1,975,258 518,613

CAPITAL & RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 1,962,445 529,359
Retained earnings 11 12,713 (10,846 )
SHAREHOLDERS' FUNDS 1,975,258 518,613

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 25 October 2023 and were signed by:



Mrs E J Wright - Director


Purdey Lorimer Limited (Registered number: 06623753)

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

1. STATUTORY INFORMATION

Purdey Lorimer 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 rents receivable for the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures & fittings - 33% on cost

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 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 ) .

Purdey Lorimer Limited (Registered number: 06623753)

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

4. TANGIBLE FIXED ASSETS
Fixtures
& fittings
£   
COST
At 1 July 2022
and 30 June 2023 4,224
DEPRECIATION
At 1 July 2022
and 30 June 2023 4,224
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 2,307,914
Revaluations 1,433,086
At 30 June 2023 3,741,000
NET BOOK VALUE
At 30 June 2023 3,741,000
At 30 June 2022 2,307,914

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2014 529,359
Valuation in 2023 1,433,086
Cost 1,778,555
3,741,000

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

2023 2022
£    £   
Cost 1,778,555 1,778,555

The investment properties were valued on an open market basis on 30 June 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 7,150 1,000
Prepayments 2,893 1,787
10,043 2,787

Purdey Lorimer Limited (Registered number: 06623753)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans & overdrafts 1,065,000 1,125,000
Trade creditors - 195
Tax 4,315 -
Social security & other taxes - 263
Other creditors 11,983 11,475
Directors' current accounts 312 733,600
Accruals & deferred income 22,690 14,570
1,104,300 1,885,103

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan accounts 733,600 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 1,065,000 1,125,000

The bank loan is secured by way of a mortgage charged over the various investment properties owned by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 July 2022 (10,846 ) 529,359 518,513
Profit for the year 23,559 23,559
Revaluation - 1,433,086 1,433,086
At 30 June 2023 12,713 1,962,445 1,975,158

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Mrs E J Wright has made loans to the company and at the year end the company owed £733,600 (2022: £733,600).

The loan is unsecured and accrues interest at a rate of 8.5% per annum. During the year the interest due was waived by Mrs E J Wright.

Mrs E J Wright has given personal guarantee as additional security for the bank loan.

Purdey Lorimer Limited (Registered number: 06623753)

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

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs E J Wright.