Pittman Properties Limited Filleted Accounts Cover
Pittman Properties Limited
Company No. 10038786
Information for Filing with The Registrar
31 March 2023
Pittman Properties Limited Balance Sheet Registrar
at
31 March 2023
Company No.
10038786
Notes
2023
2022
£
£
Fixed assets
Tangible assets
4
117146
Investment property
5
534,000522,000
534,117522,146
Current assets
Cash at bank and in hand
1,0085,061
1,0085,061
Creditors: Amount falling due within one year
6
(364,726)
(377,585)
Net current liabilities
(363,718)
(372,524)
Total assets less current liabilities
170,399149,622
Provisions for liabilities
Deferred taxation
(27,436)
(24,436)
Net assets
142,963125,186
Capital and reserves
Called up share capital
100100
Fair value reserve
8
82,30887,820
Profit and loss account
8
60,55537,266
Total equity
142,963125,186
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 21 November 2023 and signed on its behalf by:
J.D. Brewer
Director
21 November 2023
Pittman Properties Limited Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Pittman Properties Limited is a private company limited by shares and incorporated in England and Wales.
Its registered number is: 10038786
Its registered office is:
25 The Brackens
Orpington
Kent
BR6 6JH
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
2
Accounting policies
Turnover
Turnover is measured at the fair value of the rents received or receivable. Turnover is reduced for
estimated tenant rebates and other similar allowances.
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% Reducing balance
Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Freehold investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account.

No depreciation is provided in respect of investment properties.
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.
Trade and other creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
33
4
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 April 2022
448448
At 31 March 2023
448448
Depreciation
At 1 April 2022
302302
Charge for the year
2929
At 31 March 2023
331331
Net book values
At 31 March 2023
117117
At 31 March 2022
146
146
5
Investment property
Freehold Investment Property
£
Valuation
At 1 April 2022
522,000
Revaluation
12,000
At 31 March 2023
534,000
6
Creditors:
amounts falling due within one year
2023
2022
£
£
Taxes and social security
2,065
2,764
Loans from directors
361,751373,963
Accruals and deferred income
910858
364,726377,585
7
Share Capital
The share capital represents 100 £1 Ordinary shares allocated called up and fully paid.
8
Reserves
Fair Value Reserve
Total Other reserves
£
£
At 1 April 2021
42,320
42,320
Movement on revaluation reserve
45,500
45,500
At 31 March 2022 and 1 April 2022
87,820
87,820
Movement on revaluation reserve
(2,512)
(2,512)
Deferred taxation
(3,000)
(3,000)
At 31 March 2023
82,30882,308
Fair value reserve - reflects the revaluation of investment property.
Profit and loss account - includes all current and prior period retained profits and losses.
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