REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Pepper Best Developments Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 30 April 2023 |
for |
Pepper Best Developments Limited |
Pepper Best Developments Limited (Registered number: 03936563) |
Contents of the Financial Statements |
for the Year Ended 30 April 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Pepper Best Developments Limited |
Company Information |
for the Year Ended 30 April 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chancery House |
30 St Johns Road |
Woking |
Surrey |
GU21 7SA |
Pepper Best Developments Limited (Registered number: 03936563) |
Statement of Financial Position |
30 April 2023 |
30/4/23 | 30/4/22 |
Notes | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Pepper Best Developments Limited (Registered number: 03936563) |
Statement of Financial Position - continued |
30 April 2023 |
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 |
Pepper Best Developments Limited (Registered number: 03936563) |
Notes to the Financial Statements |
for the Year Ended 30 April 2023 |
1. | STATUTORY INFORMATION |
Pepper Best Developments Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis as the directors have confirmed that they will continue to provide support to the company to enable it to meet its liabilities for the twelve months from the date of signing these financial statements. |
Turnover |
Turnover represents rent received from investment properties, excluding value added tax. Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Pepper Best Developments Limited (Registered number: 03936563) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 1 May 2022 |
Revaluations | (20,000 | ) |
At 30 April 2023 |
Net book value |
At 30 April 2023 |
At 30 April 2022 |
Fair value at 30 April 2023 is represented by: |
£ |
Valuation in 2012 | 177,089 |
Valuation in 2014 | 124,923 |
Valuation in 2017 | 125,000 |
Valuation in 2022 | 98,548 |
Valuation in 2023 | (20,000 | ) |
Cost | 774,440 |
1,280,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30/4/23 | 30/4/22 |
£ | £ |
Cost | 774,440 | 774,440 |
Investment properties were valued on an open market basis on 30 April 2023 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Bank loans and overdrafts |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30/4/23 | 30/4/22 |
£ | £ |
Bank loans |
Pepper Best Developments Limited (Registered number: 03936563) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30/4/23 | 30/4/22 |
£ | £ |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 4,306 | 5,972 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/4/23 | 30/4/22 |
£ | £ |
Bank loans |
The bank loans and overdraft are secured on the investment properties of the company by way of fixed and floating charges. The present borrowing is less than the security needed but charges have been left in place in anticipation of future developments. |
10. | RELATED PARTY DISCLOSURES |
Included in other debtors is £50,068 (2022: £90,000) due from Pepper Best LLC a company registered in United States of America and under the control of the directors. Interest has not been charged on the balance. |