Company Registration No. 09575000 (England and Wales)
NEW PINEAPPLE LIMITED
Unaudited accounts
for the year ended 31 May 2023
NEW PINEAPPLE LIMITED
Unaudited accounts
Contents
NEW PINEAPPLE LIMITED
Company Information
for the year ended 31 May 2023
Directors
YAN KIT CHONG
SUK FAN CHEUNG
Company Number
09575000 (England and Wales)
Registered Office
97-99 HIGH STREET
FELLING
GATESHEAD
NE10 9LU
United Kingdom
Accountants
Gina Caceres-Jimenez
LONSDALE FINANCIAL LTD
97-99 HIGH STREET
GATESHEAD
Tyne and Wear
NE10 9LU
NEW PINEAPPLE LIMITED
Accountants' report
Accountants' report to the board of directors of NEW PINEAPPLE LIMITED on the preparation of the unaudited statutory accounts for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
NEW PINEAPPLE LIMITED for the year ended
31 May 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of NEW PINEAPPLE LIMITED, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of NEW PINEAPPLE LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NEW PINEAPPLE LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that NEW PINEAPPLE 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 NEW PINEAPPLE LIMITED. You consider that NEW PINEAPPLE 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 NEW PINEAPPLE 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.
Gina Caceres-Jimenez
LONSDALE FINANCIAL LTD
97-99 HIGH STREET
GATESHEAD
Tyne and Wear
NE10 9LU
23 October 2023
NEW PINEAPPLE LIMITED
Statement of financial position
as at 31 May 2023
Investment property
905,359
905,359
Cash at bank and in hand
14,739
41,322
Creditors: amounts falling due within one year
(116,058)
(179,013)
Net current liabilities
(101,255)
(142,424)
Total assets less current liabilities
812,263
763,099
Creditors: amounts falling due after more than one year
(42,435)
(44,436)
Net assets
769,828
718,663
Called up share capital
650,000
650,000
Profit and loss account
119,828
68,663
Shareholders' funds
769,828
718,663
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2023 and were signed on its behalf by
YAN KIT CHONG
Director
Company Registration No. 09575000
NEW PINEAPPLE LIMITED
Notes to the Accounts
for the year ended 31 May 2023
NEW PINEAPPLE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09575000. The registered office is 97-99 HIGH STREET, FELLING, GATESHEAD, NE10 9LU, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Investment property is included at market fair value.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives beginning in the first full year of ownership:
Fixtures & fittings
10% straight line depreciation
Computer equipment
20% straight line depreciation basis
Turnover is measured at the fair value of the consideration of rent received or receivable, excluding value added tax and other sales taxes. Turnover represents rental income receivable on investment properties.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
£7,600 was received in the term via a government grant which was used to purchase a ventilation system entered into fixtures and fittings on the balance sheet. The deferred income will begin to be deposited against the profit and loss beginning in the first full year of ownership.
NEW PINEAPPLE LIMITED
Notes to the Accounts
for the year ended 31 May 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 31 May 2023
8,050
274
8,324
Charge for the year
-
55
55
At 31 May 2023
8,050
109
8,159
Fair value at 1 June 2022
905,359
Amounts falling due within one year
Accrued income and prepayments
64
(5,169)
7
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
13,318
8,915
Other creditors
17,517
90,043
Loans from directors
79,583
73,630
Interest free loan of £739 at the balance sheet date as detailed in related party transactions.
Rent Security Deposits of £17,517 as at the balance sheet date.
Directors loan, due on demand of £78,844 as at the balance sheet date.
Vat owed of £4,439 as at date of the balance sheet.
Remaining amounts made up of taxes and accruals.
NEW PINEAPPLE LIMITED
Notes to the Accounts
for the year ended 31 May 2023
8
Creditors: amounts falling due after more than one year
2023
2022
The Director has secured a Business Bounce Back Loan for the company as part of the Government support plan resulting from the Coronavirus pandemic. The balance due at start of term was £50,000 and has reduced through repayment to £34,835. Interest has been charged on this loan in the period of £1049 up to the balance sheet date. It is not expected that demand for repayment in full will occur within 12 months.
Deferred income from government grants is £7,600.
Allotted, called up and fully paid:
100 Ordinary shares of £6,500 each
650,000
650,000
10
Transactions with related parties
The Director has provided a loan to the company. The balance due to the Director at the date of the Balance Sheet was £78,844 (£73,630 2022). No interest has been charged on this loan.
The parents of the director and second shareholder have provided an interest free loan to the company. The balance outstanding at the beginning of the term was £72,960, and has been reduced by £72,221 to £739 at the date of the Balance Sheet and has been entered under Creditors: amounts falling due within 1 year. No formal terms for repayment of the loan have been set out and is considered payable immediately on demand. It is expected that demand for repayment of the loan in part will occur within one year of the balance sheet date.
Dividends of £2,000 were paid to each Shareholder during the year.
11
Average number of employees
During the year the average number of employees was 2 (2022: 2).