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REGISTERED NUMBER: 10058404 (England and Wales)









Financial Statements

for the Year Ended 31 August 2022

for

PPP Properties Ltd

PPP Properties Ltd (Registered number: 10058404)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PPP Properties Ltd

Company Information
for the Year Ended 31 August 2022







DIRECTORS: S Pullen
Mrs N Pullen





SECRETARY: S Pullen





REGISTERED OFFICE: Unit 1 Pressmore Farm Barns
Ashley Green Road
Chesham
Buckinghamshire
HP5 3PF





REGISTERED NUMBER: 10058404 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

PPP Properties Ltd (Registered number: 10058404)

Statement of Financial Position
31 August 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investments 4 79,674 -
Investment property 5 2,495,694 1,966,942
2,575,368 1,966,942

CURRENT ASSETS
Debtors 6 19,464 17,379
Cash at bank and in hand 7,648 257,574
27,112 274,953
CREDITORS
Amounts falling due within one year 7 2,823,938 2,001,881
NET CURRENT LIABILITIES (2,796,826 ) (1,726,928 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(221,458

)

240,014

CREDITORS
Amounts falling due after more than one
year

8

159,519

351,073
NET LIABILITIES (380,977 ) (111,059 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (380,979 ) (111,061 )
(380,977 ) (111,059 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2023 and were signed on its behalf by:




S Pullen - Director


PPP Properties Ltd (Registered number: 10058404)

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

1. STATUTORY INFORMATION

PPP Properties Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 rents receivable excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property
Initial measurement
Investment properties are initially measured at cost.

Subsequent measurement
Investment properties are measured at fair value at each reporting date with changes in fair values recognised in profit or loss. No depreciation is provided in respect of investment properties.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Investments
Investments are initially recognised at cost and at fair value at the end of each period if the value can be measured reliably.

3. EMPLOYEES AND DIRECTORS

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

PPP Properties Ltd (Registered number: 10058404)

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

4. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2022 2021
£    £   
Other investments 139,398 93,127
Disposal (52,419 ) (93,127 )
Revaluation (7,305 ) -
79,674 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2021 1,966,942
Additions 945,656
Disposals (162,068 )
Revaluations (238,211 )
Adjustment to purchase price (16,625 )
At 31 August 2022 2,495,694
NET BOOK VALUE
At 31 August 2022 2,495,694
At 31 August 2021 1,966,942

Fair value at 31 August 2022 is represented by:
£   
Valuation in 2022 (295,363 )
Cost 2,791,057
2,495,694

If the investment properties had not been revalued they would have been included at the following historical cost:

2022 2021
£    £   
Cost 2,791,057 2,024,094

The investment properties were valued on an open market basis on 31 August 2022 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 3,388 6,500
Other debtors 3,770 5,860
VAT 10,489 3,406
Prepayments & accrued income 1,817 1,613
19,464 17,379

PPP Properties Ltd (Registered number: 10058404)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 10,000 9,566
Other loans 90,678 -
Trade creditors 297 -
Other creditors 2,684,012 1,931,181
Service charges 26,586 21,234
Directors' current accounts 1,752 24,252
Accruals & deferred income 10,613 15,648
2,823,938 2,001,881

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loan 27,881 38,079
Other Loan 131,638 312,994
159,519 351,073

The other loan is secured on an investment property.