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REGISTERED NUMBER: 11196837















PPD Properties Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2023






PPD Properties Ltd (Registered number: 11196837)

Contents of the Financial Statements
for the year ended 28 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PPD Properties Ltd

Company Information
for the year ended 28 February 2023







Directors: M Daly
P R Daly





Registered office: 250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP





Registered number: 11196837





Accountants: Cooper Parry Advisory Limited
250 Fowler Avenue
Farnborough
Hampshire
GU14 7JP

PPD Properties Ltd (Registered number: 11196837)

Balance Sheet
28 February 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 3 5,138,454 2,006,368

Current assets
Debtors 4 12,419 14,178
Cash in hand 3,309 8,862
15,728 23,040
Creditors
Amounts falling due within one year 5 5,142,574 1,851,933
Net current liabilities (5,126,846 ) (1,828,893 )
Total assets less current liabilities 11,608 177,475

Creditors
Amounts falling due after more than one
year

6

(111,488

)

(151,215

)

Provisions for liabilities - (865 )
Net (liabilities)/assets (99,880 ) 25,395

Capital and reserves
Called up share capital 7 2 2
Retained earnings 8 (99,882 ) 25,393
Shareholders' funds (99,880 ) 25,395

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.

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 20 November 2023 and were signed on its behalf by:




P R Daly - Director


PPD Properties Ltd (Registered number: 11196837)

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.

Going concern
Although the business has been loss making in the year and the company is in a net liability position at the year end, the directors are confident that the business will become profitable going forward as newly purchased properties start producing rental income. The directors have identified no uncertainties that cast doubt about the ability of the company to continue as a going concern.

Turnover
Turnover comprises revenue recognised by the company in respect of rents receivable.

Tangible fixed assets
Tangible fixed assets comprise freehold property. Freehold property is not depreciated as the directors do not consider that depreciating the property will give a true and fair view of the value.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

PPD Properties Ltd (Registered number: 11196837)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


1. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

2. Employees and directors

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

3. Tangible fixed assets
Freehold
property
£
Cost
At 1 March 2022 2,006,368
Additions 3,132,086
At 28 February 2023 5,138,454
Net book value
At 28 February 2023 5,138,454
At 28 February 2022 2,006,368

4. Debtors: amounts falling due within one year
2023 2022
£ £
Trade debtors 10,681 14,176
Other debtors 1,738 2
12,419 14,178

5. Creditors: amounts falling due within one year
2023 2022
£ £
Taxation and social security 48 -
Other creditors 5,142,526 1,851,933
5,142,574 1,851,933

PPD Properties Ltd (Registered number: 11196837)

Notes to the Financial Statements - continued
for the year ended 28 February 2023


6. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans 111,488 151,215

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
2 Ordinary £1 2 2

8. Reserves
Retained
earnings
£

At 1 March 2022 25,393
Deficit for the year (125,275 )
At 28 February 2023 (99,882 )