Silverfin false 31/03/2023 01/04/2022 31/03/2023 Karen Packer 12/02/2018 Stuart Packer 12/02/2018 13 November 2023 The principal activity of the Company during the financial year was residential property investment. 11200570 2023-03-31 11200570 bus:Director1 2023-03-31 11200570 bus:Director2 2023-03-31 11200570 2022-03-31 11200570 core:CurrentFinancialInstruments 2023-03-31 11200570 core:CurrentFinancialInstruments 2022-03-31 11200570 core:Non-currentFinancialInstruments 2023-03-31 11200570 core:Non-currentFinancialInstruments 2022-03-31 11200570 core:ShareCapital 2023-03-31 11200570 core:ShareCapital 2022-03-31 11200570 core:RetainedEarningsAccumulatedLosses 2023-03-31 11200570 core:RetainedEarningsAccumulatedLosses 2022-03-31 11200570 core:OtherPropertyPlantEquipment 2022-03-31 11200570 core:OtherPropertyPlantEquipment 2023-03-31 11200570 2022-04-01 2023-03-31 11200570 bus:FullAccounts 2022-04-01 2023-03-31 11200570 bus:SmallEntities 2022-04-01 2023-03-31 11200570 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11200570 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11200570 bus:Director1 2022-04-01 2023-03-31 11200570 bus:Director2 2022-04-01 2023-03-31 11200570 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 11200570 2021-04-01 2022-03-31 11200570 core:CurrentFinancialInstruments 2022-04-01 2023-03-31 11200570 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 11200570 (England and Wales)

PACKER ESTATE MANAGEMENT LTD

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

PACKER ESTATE MANAGEMENT LTD

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PACKER ESTATE MANAGEMENT LTD

COMPANY INFORMATION

For the financial year ended 31 March 2023
PACKER ESTATE MANAGEMENT LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS Karen Packer
Stuart Packer
SECRETARY Karen Packer
REGISTERED OFFICE 27 Richmond Road
Sherborne
DT9 3HL
United Kingdom
COMPANY NUMBER 11200570 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
PACKER ESTATE MANAGEMENT LTD

BALANCE SHEET

As at 31 March 2023
PACKER ESTATE MANAGEMENT LTD

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 686 858
Investment property 4 1,477,857 1,477,857
Investments 0 2
1,478,543 1,478,717
Current assets
Debtors 5 508,075 205,014
Cash at bank and in hand 1,353,457 502,526
1,861,532 707,540
Creditors: amounts falling due within one year 6 ( 2,851,612) ( 1,351,273)
Net current liabilities (990,080) (643,733)
Total assets less current liabilities 488,463 834,984
Creditors: amounts falling due after more than one year 7 ( 480,030) ( 831,366)
Net assets 8,433 3,618
Capital and reserves
Called-up share capital 100 100
Profit and loss account 8,333 3,518
Total shareholders' funds 8,433 3,618

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 Packer Estate Management Ltd (registered number: 11200570) were approved and authorised for issue by the Board of Directors on 13 November 2023. They were signed on its behalf by:

Stuart Packer
Director
Karen Packer
Director
PACKER ESTATE MANAGEMENT LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PACKER ESTATE MANAGEMENT LTD

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

Packer Estate Management Ltd (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 27 Richmond Road, Sherborne, DT9 3HL, 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 pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet 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.

Turnover

Turnover is recognised at the fair value of rent received in the normal course of business.

Turnover is recognised when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account 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.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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.

Loans and borrowings
Interest-bearing borrowings are initially recorded at fair value, net transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months aft ther reporting date.
Assets held under hire purchase agreements are capitalised as tangible fixed assets with the future obligation being recognised as a liability. Finance costs are recognised in the Profit and Loss Account calculated at a constant periodic rate of interest over the term of the liability.

Ordinary share capital

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

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

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

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 1,675 1,675
At 31 March 2023 1,675 1,675
Accumulated depreciation
At 01 April 2022 817 817
Charge for the financial year 172 172
At 31 March 2023 989 989
Net book value
At 31 March 2023 686 686
At 31 March 2022 858 858

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,477,857
As at 31 March 2023 1,477,857

Valuation

There has been no valuation of investment property by an independent valuer.

5. Debtors

2023 2022
£ £
Trade debtors 0 2,250
Other debtors 508,075 202,764
508,075 205,014

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 312 0
Accruals 1,300 1,271
Other creditors 2,850,000 1,350,002
2,851,612 1,351,273

There are no amounts included above in respect of which any security has been given by the small entity.

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Other loans (secured) 480,030 831,366

Other loans are secured by investment property.

8. Related party transactions

At 1 April 2022, the balance owed by the director was £50,324. During the year, £20,000 was advanced to the director, and £70,636 was repaid by the director. At 31 March 2023, the balance to the director was £312.

At 1 April 2021, the balance owed to the director was £nil. During the year, £150,324 was advanced to the director, and £100,000 was repaid by the director. At 31 March 2022, the balance owed by the director was £50,324.