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REGISTERED NUMBER: 03772638 (England and Wales)















PDW PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023






PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PDW PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: P M Bethell
D F Bethell





SECRETARY: D F Bethell





REGISTERED OFFICE: 2 Windmill Close
Appleton
Warrington
WA4 5JS





REGISTERED NUMBER: 03772638 (England and Wales)





ACCOUNTANTS: DTE Business Advisers Limited
Chartered Accountants
The Exchange
5 Bank Street
Bury
BL9 0DN

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 316 421
Investment property 5 326,858 325,000
327,174 325,421

CURRENT ASSETS
Debtors 6 - 103,133
Cash at bank 65,048 4,590
65,048 107,723
CREDITORS
Amounts falling due within one year 7 (11,594 ) (40,101 )
NET CURRENT ASSETS 53,454 67,622
TOTAL ASSETS LESS CURRENT
LIABILITIES

380,628

393,043

CREDITORS
Amounts falling due after more than one
year

8

(234,449

)

(247,951

)
NET ASSETS 146,179 145,092

CAPITAL AND RESERVES
Called up share capital 8 8
Other reserves 10 191,044 191,044
Retained earnings (44,873 ) (45,960 )
146,179 145,092

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 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.

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 30 October 2023 and were signed on its behalf by:





D F Bethell - Director


PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

PDW Property Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 03772638 and its registered office address is 2 Windmill Close, Appleton, Warrington, WA4 5JS.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates.

The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below.

Determining the fair value of the investment properties relies on the judgement of the directors.

Revenue
Rental income is recognised on a straight line basis over the term of the lease. Lease incentives are recognised as a reduction to the income over the term of the lease.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises.

Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost.

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.

3. EMPLOYEES AND DIRECTORS

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

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 13,390
DEPRECIATION
At 1 July 2022 12,969
Charge for year 105
At 30 June 2023 13,074
NET BOOK VALUE
At 30 June 2023 316
At 30 June 2022 421

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022 325,000
Additions 1,858
At 30 June 2023 326,858
NET BOOK VALUE
At 30 June 2023 326,858
At 30 June 2022 325,000

The investment property has been valued by the directors on an open market value basis by reference to transaction prices for similar properties.

Fair value at 30 June 2023 is represented by:
£   
Valuation in 2017 167,052
Valuation in 2020 23,992
Cost 135,814
326,858

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 103,133

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

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 and overdrafts 1,502 1,465
Amounts owed to participating interests 8,328 1,730
Taxation and social security 280 35,706
Other creditors 1,484 1,200
11,594 40,101

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 234,449 247,951

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 231,463 243,463

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 235,951 249,416

The bank loan is secured by way of a fixed and floating charge over the property of the company.

10. RESERVES
Other
reserves
£   
At 1 July 2022
and 30 June 2023 191,044

PDW PROPERTY LIMITED (REGISTERED NUMBER: 03772638)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 June 2023 and the period ended 30 June 2022:

2023 2022
£    £   
D F Bethell and P M Bethell
Balance outstanding at start of year 77,836 132,460
Amounts advanced 22,000 5,376
Amounts repaid (100,000 ) (60,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (164 ) 77,836

The above advance is unsecured, interest free and repayable on demand. During the year there were no advances that were considered material. The maximum overdrawn balance during the year was £77,836 (2022 - £132,460).