Silverfin false 31/03/2023 01/04/2022 31/03/2023 Ms G L Hollick 31/07/2018 Lady S M Woodford-Hollick OBE 06/11/2013 24 October 2023 The principal activity of the Company during the year was holding of real estate. 08764199 2023-03-31 08764199 bus:Director1 2023-03-31 08764199 bus:Director2 2023-03-31 08764199 2022-03-31 08764199 core:CurrentFinancialInstruments 2023-03-31 08764199 core:CurrentFinancialInstruments 2022-03-31 08764199 core:ShareCapital 2023-03-31 08764199 core:ShareCapital 2022-03-31 08764199 core:SharePremium 2023-03-31 08764199 core:SharePremium 2022-03-31 08764199 core:RetainedEarningsAccumulatedLosses 2023-03-31 08764199 core:RetainedEarningsAccumulatedLosses 2022-03-31 08764199 core:FurnitureFittings 2022-03-31 08764199 core:FurnitureFittings 2023-03-31 08764199 bus:OrdinaryShareClass1 2023-03-31 08764199 bus:OrdinaryShareClass2 2023-03-31 08764199 2022-04-01 2023-03-31 08764199 bus:FullAccounts 2022-04-01 2023-03-31 08764199 bus:SmallEntities 2022-04-01 2023-03-31 08764199 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08764199 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08764199 bus:Director1 2022-04-01 2023-03-31 08764199 bus:Director2 2022-04-01 2023-03-31 08764199 core:FurnitureFittings core:TopRangeValue 2022-04-01 2023-03-31 08764199 2021-04-01 2022-03-31 08764199 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08764199 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 08764199 bus:OrdinaryShareClass2 2022-04-01 2023-03-31 08764199 bus:OrdinaryShareClass2 2021-04-01 2022-03-31 iso4217:EUR xbrli:pure xbrli:shares

Company No: 08764199 (England and Wales)

POLLENSA LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

POLLENSA LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

POLLENSA LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
POLLENSA LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
Fixed assets
Investment property 4 5,498,512 5,498,512
5,498,512 5,498,512
Current assets
Debtors 5 918 918
Cash at bank and in hand 56,455 67,865
57,373 68,783
Creditors: amounts falling due within one year 6 ( 4,718,548) ( 4,717,468)
Net current liabilities (4,661,175) (4,648,685)
Total assets less current liabilities 837,337 849,827
Net assets 837,337 849,827
Capital and reserves
Called-up share capital 7 5 5
Share premium account 959,999 959,999
Profit and loss account ( 122,667 ) ( 110,177 )
Total shareholders' funds 837,337 849,827

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Pollensa Limited (registered number: 08764199) were approved and authorised for issue by the Director on 24 October 2023. They were signed on its behalf by:

Lady S M Woodford-Hollick OBE
Director
POLLENSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
POLLENSA LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Pollensa Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 5a Bear Lane, Southwark, London, SE1 0UH, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in EUR which is the functional currency of the Company and rounded to the nearest €.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Fixtures and fittings 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
Cost
At 01 April 2022 8,838 8,838
At 31 March 2023 8,838 8,838
Accumulated depreciation
At 01 April 2022 8,838 8,838
At 31 March 2023 8,838 8,838
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

4. Investment property

Investment property
Valuation
As at 01 April 2022 5,498,512
As at 31 March 2023 5,498,512

Valuation

The valuation was provided by the directors.

5. Debtors

2023 2022
Prepayments 918 918

6. Creditors: amounts falling due within one year

2023 2022
Amounts owed to directors 58,839 58,839
Other loans 4,656,109 4,656,109
Accruals 3,600 2,520
4,718,548 4,717,468

7. Called-up share capital

2023 2022
Allotted, called-up and fully-paid
3 Ordinary shares of € 1.14 each 3.42 3.42
1 A ordinary share of € 1.14 1.14 1.14
4.56 4.56