IRIS Accounts Production v23.3.0.418 04272014 Board of Directors 1.1.22 31.12.22 31.12.22 0 0 false true false false true false Fair value model Ordinary Shares 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh042720142021-12-31042720142022-12-31042720142022-01-012022-12-31042720142020-12-31042720142021-01-012021-12-31042720142021-12-3104272014ns10:Originalns15:EnglandWales2022-01-012022-12-3104272014ns14:PoundSterlingns10:Original2022-01-012022-12-3104272014ns10:Originalns10:Director12022-01-012022-12-3104272014ns10:Original2022-01-012022-12-3104272014ns10:Original2022-12-3104272014ns10:Originalns10:PrivateLimitedCompanyLtd2022-01-012022-12-3104272014ns10:Originalns10:SmallEntities2022-01-012022-12-3104272014ns10:Originalns10:AuditExempt-NoAccountantsReport2022-01-012022-12-3104272014ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-01-012022-12-3104272014ns10:SmallCompaniesRegimeForAccountsns10:Original2022-01-012022-12-3104272014ns10:Originalns10:FullAccounts2022-01-012022-12-3104272014ns10:Original2021-01-012021-12-3104272014ns10:Originalns10:OrdinaryShareClass12022-01-012022-12-3104272014ns10:Originalns10:Director32022-01-012022-12-3104272014ns10:Originalns10:Director42022-01-012022-12-3104272014ns10:CompanySecretary1ns10:Original2022-01-012022-12-3104272014ns10:Originalns10:RegisteredOffice2022-01-012022-12-3104272014ns10:Original2021-12-3104272014ns10:Originalns5:CurrentFinancialInstruments2022-12-3104272014ns10:Originalns5:CurrentFinancialInstruments2021-12-3104272014ns10:Originalns5:Non-currentFinancialInstruments2022-12-3104272014ns10:Originalns5:Non-currentFinancialInstruments2021-12-3104272014ns5:ShareCapitalns10:Original2022-12-3104272014ns5:ShareCapitalns10:Original2021-12-3104272014ns10:Originalns5:CapitalRedemptionReserve2022-12-3104272014ns10:Originalns5:CapitalRedemptionReserve2021-12-3104272014ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2022-12-3104272014ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2021-12-3104272014ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-12-3104272014ns10:Originalns5:RetainedEarningsAccumulatedLosses2021-12-3104272014ns10:Original2021-12-3104272014ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3104272014ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2021-12-3104272014ns10:Originalns10:OrdinaryShareClass12022-12-3104272014ns10:Originalns5:FurtherSpecificReserve3ComponentTotalEquity2021-12-31
REGISTERED NUMBER: 04272014 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Pelstone Limited

Pelstone Limited (Registered number: 04272014)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Pelstone Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: M P Cull
G F Cull
P Rege





SECRETARY: M P Cull





REGISTERED OFFICE: Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ





REGISTERED NUMBER: 04272014 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Pelstone Limited (Registered number: 04272014)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 845,397 1,095,397

CURRENT ASSETS
Debtors 5 100,866 9,470
Cash at bank 584,109 7,866
684,975 17,336
CREDITORS
Amounts falling due within one year 6 209,604 104,026
NET CURRENT ASSETS/(LIABILITIES) 475,371 (86,690 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,320,768

1,008,707

CREDITORS
Amounts falling due after more than one
year

7

(24,124

)

(88,124

)

PROVISIONS FOR LIABILITIES (9,185 ) (9,185 )
NET ASSETS 1,287,459 911,398

CAPITAL AND RESERVES
Called up share capital 8 921 1,000
Capital redemption reserve 79 -
Fair value reserve 9 124,450 197,415
Retained earnings 1,162,009 712,983
SHAREHOLDERS' FUNDS 1,287,459 911,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 27 November 2023 and were signed on its behalf by:





M P Cull - Director


Pelstone Limited (Registered number: 04272014)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Pelstone Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income, excluding value added tax.

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 1,095,397
Disposals (177,035 )
Revaluations (72,965 )
At 31 December 2022 845,397
NET BOOK VALUE
At 31 December 2022 845,397
At 31 December 2021 1,095,397

The investment properties held by the company have been revalued in the year by the directors to their current market value.

Pelstone Limited (Registered number: 04272014)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INVESTMENT PROPERTY - continued

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2015 197,415
Cost 647,982
845,397

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 100,481 9,085
Amounts owed by group undertakings 385 385
100,866 9,470

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 840 -
Amounts owed to group undertakings 78,000 78,000
Taxation and social security 97,164 13,576
Other creditors 33,600 12,450
209,604 104,026

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Other creditors 24,124 88,124

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary Shares £1 921 1,000

9. RESERVES
Fair
value
reserve
£   
At 1 January 2022 197,415
Revaluation in year (72,965 )

At 31 December 2022 124,450

Pelstone Limited (Registered number: 04272014)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

10. RELATED PARTY DISCLOSURES

During the year GN Construction Limited, a company in which the directors have a financial interest, provided management services of £9,000 (2021: £9,000) and property maintenance services of £nil (2021: £55,751).

GN construction Limited continues to rent one of the commercial units from Pelstone Limited. The amount paid in the year was £6,851 (2021: £6,851).

The amount owed to GN Construction Limited as at 31 December 2022 was £102,124 (2021: £166,124) of which £78,000 is to be repaid within 12 months. Further repayments will be made when funds allow and GN Construction Limited will support Pelstone Limited as required.

At the year end an amount of £385 (2021: £385) was owed by Spa Developments Limited, a company in which the directors have a financial interest. This amount is included in the debtors figure in note 6 to the financial statements.

11. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by Mr M Cull and Mr N Cull.

12. DEFERRED TAXATION

Investment properties have been revalued in the year to their current market value. The current estimate of the future capital gain liability on the company should all the investment property portfolio be sold amounts to NIL.