Company Registration No. 11041878 (England and Wales)
PN Property Ltd
Unaudited accounts
for the year ended 31 March 2023
PN Property Ltd
Unaudited accounts
Contents
PN Property Ltd
Company Information
for the year ended 31 March 2023
Directors
Paul Andrew FENTON
Natalia FENTON
Company Number
11041878 (England and Wales)
Registered Office
WINTON HOUSE
WINTON SQUARE
BASINGSTOKE
HAMPSHIRE
RG21 8EN
United Kingdom
Accountants
Cranleys Chartered Accountants
Winton House
Winton Square
Basingstoke
Hampshire
RG21 8EN
PN Property Ltd
Statement of financial position
as at 31 March 2023
Tangible assets
8,118,699
8,077,999
Cash at bank and in hand
355,140
441,762
Creditors: amounts falling due within one year
(7,852,421)
(7,935,166)
Net current liabilities
(7,277,281)
(7,493,404)
Net assets
841,418
584,595
Called up share capital
101
101
Revaluation reserve
127,105
75,999
Profit and loss account
714,212
508,495
Shareholders' funds
841,418
584,595
For the 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. 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 10 November 2023 and were signed on its behalf by
Paul Andrew FENTON
Director
Company Registration No. 11041878
PN Property Ltd
Notes to the Accounts
for the year ended 31 March 2023
PN Property Ltd is a private company, limited by shares, registered in England and Wales, registration number 11041878. The registered office is WINTON HOUSE, WINTON SQUARE, BASINGSTOKE, HAMPSHIRE, RG21 8EN, 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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
4
Tangible fixed assets
Land & buildings
Motor vehicles
Total
Cost or valuation
At valuation
At cost
At 1 April 2022
8,036,374
55,500
8,091,874
Revaluations
51,106
-
51,106
At 31 March 2023
8,087,480
55,500
8,142,980
At 1 April 2022
-
13,875
13,875
Charge for the year
-
10,406
10,406
At 31 March 2023
-
24,281
24,281
At 31 March 2023
8,087,480
31,219
8,118,699
At 31 March 2022
8,036,374
41,625
8,077,999
PN Property Ltd
Notes to the Accounts
for the year ended 31 March 2023
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
3,431,344
3,289,342
Trade creditors
43,639
38,000
Taxes and social security
54,122
55,205
Loans from directors
4,319,477
4,550,790
7
Average number of employees
During the year the average number of employees was 0 (2022: 0).