Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity00truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13308779 2022-03-01 2023-02-28 13308779 2021-04-01 2022-02-28 13308779 2023-02-28 13308779 2022-02-28 13308779 c:Director1 2022-03-01 2023-02-28 13308779 d:FreeholdInvestmentProperty 2023-02-28 13308779 d:FreeholdInvestmentProperty 2022-02-28 13308779 d:CurrentFinancialInstruments 2023-02-28 13308779 d:CurrentFinancialInstruments 2022-02-28 13308779 d:Non-currentFinancialInstruments 2023-02-28 13308779 d:Non-currentFinancialInstruments 2022-02-28 13308779 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13308779 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 13308779 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 13308779 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 13308779 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-02-28 13308779 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-02-28 13308779 d:ShareCapital 2023-02-28 13308779 d:ShareCapital 2022-02-28 13308779 d:RetainedEarningsAccumulatedLosses 2023-02-28 13308779 d:RetainedEarningsAccumulatedLosses 2022-02-28 13308779 c:OrdinaryShareClass1 2022-03-01 2023-02-28 13308779 c:OrdinaryShareClass1 2023-02-28 13308779 c:OrdinaryShareClass1 2022-02-28 13308779 c:OrdinaryShareClass2 2022-03-01 2023-02-28 13308779 c:OrdinaryShareClass2 2023-02-28 13308779 c:OrdinaryShareClass2 2022-02-28 13308779 c:FRS102 2022-03-01 2023-02-28 13308779 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 13308779 c:FullAccounts 2022-03-01 2023-02-28 13308779 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 13308779 2 2022-03-01 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13308779










PICTURE HOMES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
PICTURE HOMES LIMITED
REGISTERED NUMBER: 13308779

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
1,921,412
1,921,412

  
1,921,412
1,921,412

Current assets
  

Cash at bank and in hand
 5 
20,570
16,317

  
20,570
16,317

Creditors: amounts falling due within one year
 6 
(10,466)
(9,659)

Net current assets
  
 
 
10,104
 
 
6,658

Total assets less current liabilities
  
1,931,516
1,928,070

Creditors: amounts falling due after more than one year
 7 
(1,919,246)
(1,926,885)

  

Net assets
  
12,270
1,185


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
12,170
1,085

  
12,270
1,185

Page 1

 
PICTURE HOMES LIMITED
REGISTERED NUMBER: 13308779
    
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T J Brook
Director

Date: 27 October 2023

The notes on pages 3 to 6 form part of these financial statements.
Page 2

 
PICTURE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Picture Homes Limited, is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
PICTURE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2022 - 0).

Page 4

 
PICTURE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 March 2022
1,921,412



At 28 February 2023
1,921,412

The 2023 valuations were made by the directors , on an open market value for existing use basis.





5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
20,570
16,317

20,570
16,317



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
2,680
254

Other creditors
4,253
5,985

Accruals and deferred income
3,533
3,420

10,466
9,659



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
1,427,450
1,427,450

Other creditors
491,796
499,435

1,919,246
1,926,885


Page 5

 
PICTURE HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£




Amounts falling due after more than 5 years

Bank loans
1,427,450
1,427,450

1,427,450
1,427,450

1,427,450
1,427,450



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 80) Ordinary A shares of £1.00 each
50
80
50 (2022 - 20) Ordinary B shares of £1.00 each
50
20

100

100


 
Page 6