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Registration number: 13436427

PL1 Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

PL1 Properties Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 7

 

PL1 Properties Limited

Company Information

Directors

Miss L M Byrne

Mr T Roach

Registered office

6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PL1 Properties Limited
for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PL1 Properties Limited for the year ended 30 June 2023 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of PL1 Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of PL1 Properties Limited and state those matters that we have agreed to state to the Board of Directors of PL1 Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PL1 Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that PL1 Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of PL1 Properties Limited. You consider that PL1 Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of PL1 Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

1 November 2023

 

PL1 Properties Limited

(Registration number: 13436427)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

-

5,392

Cash at bank and in hand

 

43,243

29,611

 

43,243

35,003

Creditors: Amounts falling due within one year

5

(24,571)

(21,687)

Net assets

 

18,672

13,316

Capital and reserves

 

Called up share capital

100

100

Retained earnings

18,572

13,216

Shareholders' funds

 

18,672

13,316

 

PL1 Properties Limited

(Registration number: 13436427)
Balance Sheet as at 30 June 2023

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................

Miss L M Byrne

Director

 

PL1 Properties Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH
United Kingdom

The principal place of business is:
First Floor Flat
50 Grenville Road
Plymouth
Devon
PL4 9PY

These financial statements were authorised for issue by the Board on 1 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received for short and long term holiday lets.

The company recognises revenue at the point of sale.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

PL1 Properties Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

PL1 Properties Limited

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

4

Debtors

2023
£

2022
£

Trade debtors

-

1,392

Other debtors

-

4,000

-

5,392

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

2,304

Taxation and social security

4,305

3,100

Accruals and deferred income

1,188

1,080

Other creditors

19,078

15,203

24,571

21,687

6

Related party transactions

Other transactions with directors

During the year the company made advances of £22,036 to a director. This amount was repaid during the year.