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REGISTERED NUMBER: 12302925 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2022

FOR

PFL PROPERTIES LTD

PFL PROPERTIES LTD (REGISTERED NUMBER: 12302925)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PFL PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2022







DIRECTORS: A Eckstein
A Pines





REGISTERED OFFICE: First Floor Winston House
349 Regents Park Road
London
N3 1DH





REGISTERED NUMBER: 12302925 (England and Wales)





ACCOUNTANTS: Melinek Fine LLP
Chartered Accountants
First Floor, Winston House
349 Regents Park Road
London
N3 1DH

PFL PROPERTIES LTD (REGISTERED NUMBER: 12302925)

BALANCE SHEET
30 NOVEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,551 11,224

CURRENT ASSETS
Debtors 5 295,474 236,013
Cash at bank 99,290 148,318
394,764 384,331
CREDITORS
Amounts falling due within one year 6 232,091 155,159
NET CURRENT ASSETS 162,673 229,172
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,224

240,396

CREDITORS
Amounts falling due after more than one
year

7

31,915

41,515
NET ASSETS 141,309 198,881

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 141,209 198,781
SHAREHOLDERS' FUNDS 141,309 198,881

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2022 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 October 2023 and were signed on its behalf by:





A Pines - Director


PFL PROPERTIES LTD (REGISTERED NUMBER: 12302925)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2022


1. STATUTORY INFORMATION

Pfl Properties Ltd 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.

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.

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

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 etc - 33% on cost and 10% on cost

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors and loans from banks.

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 profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PFL PROPERTIES LTD (REGISTERED NUMBER: 12302925)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2022


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2021
and 30 November 2022 13,368
DEPRECIATION
At 1 December 2021 2,144
Charge for year 673
At 30 November 2022 2,817
NET BOOK VALUE
At 30 November 2022 10,551
At 30 November 2021 11,224

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 235,681 186,649
Amounts owed by group undertakings 774 824
Other debtors 59,019 48,540
295,474 236,013

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 9,600 9,600
Hire purchase contracts 2,078 2,078
Amounts owed to group undertakings 4,927 -
Taxation and social security 109,616 133,069
Other creditors 105,870 10,412
232,091 155,159

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 24,000 33,600
Hire purchase contracts 7,915 7,915
31,915 41,515