Registered number
12475583
Pini Estates Ltd
Filleted Accounts
28 February 2023
Pini Estates Ltd
Registered number: 12475583
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 287,964 130,000
Current assets
Debtors 4 28,815 30,815
Cash at bank and in hand 164 134
28,979 30,949
Creditors: amounts falling due within one year 5 (78,122) (13,999)
Net current (liabilities)/assets (49,143) 16,950
Total assets less current liabilities 238,821 146,950
Creditors: amounts falling due after more than one year 6 (243,944) (143,529)
Net (liabilities)/assets (5,123) 3,421
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 12,804 12,804
Profit and loss account (17,928) (9,384)
Shareholder's funds (5,123) 3,421
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Alter Pinchas Merlin
Director
Approved by the board on 20 November 2023
Pini Estates Ltd
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments and investment properties are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Investment Properties
£
Cost
At 1 March 2022 130,000
Additions 157,964
At 28 February 2023 287,964
Depreciation
At 28 February 2023 -
Net book value
At 28 February 2023 287,964
At 28 February 2022 130,000
4 Debtors 2023 2022
£ £
Other debtors 28,815 30,815
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 78,122 13,999
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 243,944 143,529
7 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 202,279 97,279
Bank loans are secured against the assets of the company
8 Revaluation reserve 2023 2022
£ £
At 1 March 2022 12,804 -
Gain on revaluation of land and buildings - 12,804
At 28 February 2023 12,804 12,804
9 Other information
Pini Estates Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Cromwell Road
Salford
M6 6DE
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