IRIS Accounts Production v23.3.0.418 09981791 Board of Directors 1.3.22 28.2.23 28.2.23 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099817912022-02-28099817912023-02-28099817912022-03-012023-02-28099817912021-02-28099817912021-03-012022-02-28099817912022-02-2809981791ns10:Originalns15:EnglandWales2022-03-012023-02-2809981791ns14:PoundSterlingns10:Original2022-03-012023-02-2809981791ns10:Originalns10:Director12022-03-012023-02-2809981791ns10:Original2022-03-012023-02-2809981791ns10:Original2023-02-2809981791ns10:Originalns10:PrivateLimitedCompanyLtd2022-03-012023-02-2809981791ns10:Originalns10:SmallEntities2022-03-012023-02-2809981791ns10:Originalns10:AuditExempt-NoAccountantsReport2022-03-012023-02-2809981791ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-03-012023-02-2809981791ns10:SmallCompaniesRegimeForAccountsns10:Original2022-03-012023-02-2809981791ns10:Originalns10:FullAccounts2022-03-012023-02-2809981791ns10:Originalns10:Director22022-03-012023-02-2809981791ns10:Originalns10:Director32022-03-012023-02-2809981791ns10:Originalns10:RegisteredOffice2022-03-012023-02-2809981791ns10:Original2022-02-2809981791ns10:Originalns5:CurrentFinancialInstruments2023-02-2809981791ns10:Originalns5:CurrentFinancialInstruments2022-02-2809981791ns10:Originalns5:Non-currentFinancialInstruments2023-02-2809981791ns10:Originalns5:Non-currentFinancialInstruments2022-02-2809981791ns5:ShareCapitalns10:Original2023-02-2809981791ns5:ShareCapitalns10:Original2022-02-2809981791ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2023-02-2809981791ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-02-2809981791ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-02-2809981791ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-02-2809981791ns10:Originalns5:FurnitureFittings2022-03-012023-02-2809981791ns10:Original2021-03-012022-02-2809981791ns10:Originalns5:FurnitureFittings2022-02-2809981791ns10:Originalns5:FurnitureFittings2023-02-2809981791ns10:Originalns5:FurnitureFittings2022-02-2809981791ns10:Original2022-02-2809981791ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-02-2809981791ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-02-2809981791ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2809981791ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-02-2809981791ns5:Securedns10:Original2023-02-2809981791ns5:Securedns10:Original2022-02-28
REGISTERED NUMBER: 09981791 (England and Wales)










Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Purewal Property Ltd

Purewal Property Ltd (Registered number: 09981791)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Purewal Property Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTORS: M Purewal
H Purewal





REGISTERED OFFICE: 4 Station Parade
Ruislip
HA4 7DL





REGISTERED NUMBER: 09981791 (England and Wales)





ACCOUNTANTS: SKS Bailey Group Limited
Wynyard Business Park
Wynyard Avenue
Billingham
Cleveland
TS22 5TB

Purewal Property Ltd (Registered number: 09981791)

Balance Sheet
28 February 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 3 2,116 2,612
Investment property 4 1,170,000 1,145,000
1,172,116 1,147,612

CURRENT ASSETS
Cash at bank 45,240 97,002

CREDITORS
Amounts falling due within one year 5 (126,916 ) (178,453 )
NET CURRENT LIABILITIES (81,676 ) (81,451 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,090,440

1,066,161

CREDITORS
Amounts falling due after more than one year 6 (786,672 ) (787,632 )

PROVISIONS FOR LIABILITIES (48,981 ) (44,231 )
NET ASSETS 254,787 234,298

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 8 208,814 188,564
Retained earnings 8 45,972 45,733
254,787 234,298

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Purewal Property Ltd (Registered number: 09981791)

Balance Sheet - continued
28 February 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2023 and were signed on its behalf by:





M S Purewal - Director


Purewal Property Ltd (Registered number: 09981791)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. 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
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.
Fixtures and fittings - 25% 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 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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Purewal Property Ltd (Registered number: 09981791)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

3. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 March 2022 7,915
Additions 180
At 28 February 2023 8,095
DEPRECIATION
At 1 March 2022 5,303
Charge for year 676
At 28 February 2023 5,979
NET BOOK VALUE
At 28 February 2023 2,116
At 28 February 2022 2,612

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 1,145,000
Revaluations 25,000
At 28 February 2023 1,170,000
NET BOOK VALUE
At 28 February 2023 1,170,000
At 28 February 2022 1,145,000

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2020 147,796
Valuation in 2022 85,000
Valuation in 2023 25,000
Cost 912,204
1,170,000

Investment property has been valued under the fair value model. There has been no valuation of the investment properties in the year. The directors have recent experience in the location and category of the investment property being valued with reference to publicly available information.

Purewal Property Ltd (Registered number: 09981791)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 5,656 19,734
Other creditors 768 -
Directors' current accounts 119,291 157,941
Accrued expenses 1,201 778
126,916 178,453

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years - 47,652
BBL more than 1 year 34,616 36,895
Bank loans more 5 yrs non-inst 752,056 703,085
786,672 787,632

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 752,056 703,085

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 792,328 807,366

8. RESERVES

PROFIT AND LOSS RESERVES
The Profit and loss account comprises all current and prior period retained profit and losses after deducting any
distributions made to the company's shareholders. This is a distributable reserve.

FAIR VALUE RESERVES
The Company uses the revaluation model for the measurement of its investment properties. The reserve records the revaluation surplus recognised less the related provision for deferred tax. This is a non distributable reserve.