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REGISTERED NUMBER: 08259910 (England and Wales)


Pinhorn Properties Limited

Abridged Unaudited Financial Statements

for the Year Ended 31 March 2023






Pinhorn Properties Limited (Registered number: 08259910)






Contents of the Financial Statements
for the year ended 31 March 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Pinhorn Properties Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mrs S Hajaj
Mr R A Hajaj
Mr N Hajaj





REGISTERED OFFICE: 60 Herne Hill
Herne Hill
London
SE24 9QP





REGISTERED NUMBER: 08259910 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pinhorn Properties Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pinhorn Properties Limited for the year ended 31 March 2023 which comprise the Abridged Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Pinhorn Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pinhorn Properties Limited. You consider that Pinhorn 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 financial statements of Pinhorn 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 financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


1 November 2023

Pinhorn Properties Limited (Registered number: 08259910)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 685 856
Investments 5 101,944 139,500
Investment property 6 4,426,833 4,080,624
4,529,462 4,220,980

CURRENT ASSETS
Investments 7 20,784 40,438
Cash at bank and in hand 113,931 167,873
134,715 208,311
CREDITORS
Amounts falling due within one year 8 1,996,425 2,061,515
NET CURRENT LIABILITIES (1,861,710 ) (1,853,204 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,667,752

2,367,776

CREDITORS
Amounts falling due after more than one
year

9

(630,551

)

(684,089

)

PROVISIONS FOR LIABILITIES 10 (278,011 ) (212,264 )
NET ASSETS 1,759,190 1,471,423

Pinhorn Properties Limited (Registered number: 08259910)

Statement of Financial Position - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 100 100
Fair value reserve 12 1,250,433 904,224
Retained earnings 12 508,657 567,099
SHAREHOLDERS' FUNDS 1,759,190 1,471,423

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

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

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 Income Statement for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 1 November 2023 and were signed on its behalf by:





Mrs S Hajaj - Director


Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Pinhorn Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is recognised when the rents are due and it is derived from the ordinary activities of the business.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance

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.


Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

2. ACCOUNTING POLICIES - continued
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 3 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 April 2022
and 31 March 2023 3,887
DEPRECIATION
At 1 April 2022 3,031
Charge for year 171
At 31 March 2023 3,202
NET BOOK VALUE
At 31 March 2023 685
At 31 March 2022 856

Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 April 2022 139,500
Additions 31,639
Disposals (9,468 )
Revaluations 5,365
Impairments (65,092 )
At 31 March 2023 101,944
NET BOOK VALUE
At 31 March 2023 101,944
At 31 March 2022 139,500

Cost or valuation at 31 March 2023 is represented by:

Other
investments
£   
Valuation in 2020 19,756
Valuation in 2021 72,571
Valuation in 2022 47,173
Valuation in 2023 (37,556 )
101,944

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 164,353 135,388

Fixed asset investments were valued on an open market basis on 31 March 2023 by IG.com .

Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

6. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2022 4,080,624
Revaluations 346,209
At 31 March 2023 4,426,833
NET BOOK VALUE
At 31 March 2023 4,426,833
At 31 March 2022 4,080,624

Cost or valuation at 31 March 2023 is represented by:
£   
Valuation in 2020 3,850,000
Valuation in 2021 235,000
Valuation in 2022 (4,376 )
Valuation in 2023 346,209
4,426,833

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 2,964,298 2,964,298

Investment properties was valued on fair value basis on 31 March 2023 by Mrs S Hajaj - a director .

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Unlisted investments 20,784 40,438

Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 21,489 27,060
Payments in credit balance 1,650 -
Trade creditors 27 -
Taxation and social security 16,695 16,519
Other creditors 1,956,564 2,017,936
1,996,425 2,061,515

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 380,551 434,089
Other creditors 250,000 250,000
630,551 684,089

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 296,983 336,925

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 278,011 212,264

Deferred
tax
£   
Balance at 1 April 2022 212,264
Provided during year 65,747
Balance at 31 March 2023 278,011

Pinhorn Properties Limited (Registered number: 08259910)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

11. CALLED UP SHARE CAPITAL

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

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 567,099 904,224 1,471,323
Profit for the year 291,767 291,767
Dividends (4,000 ) (4,000 )
Fair value adjustment (346,209 ) 346,209 -
At 31 March 2023 508,657 1,250,433 1,759,090