Preemptive Investments Ltd 11118265 false 2021-12-01 2022-11-30 2022-11-30 The principal activity of the company is 68209 Digita Accounts Production Advanced 6.30.9574.0 true true 11118265 2021-12-01 2022-11-30 11118265 2022-11-30 11118265 core:RetainedEarningsAccumulatedLosses 2022-11-30 11118265 core:RevaluationReserve 2022-11-30 11118265 core:ShareCapital 2022-11-30 11118265 core:CurrentFinancialInstruments 2022-11-30 11118265 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11118265 core:Non-currentFinancialInstruments 2022-11-30 11118265 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11118265 core:FurnitureFittingsToolsEquipment 2022-11-30 11118265 bus:SmallEntities 2021-12-01 2022-11-30 11118265 bus:AuditExemptWithAccountantsReport 2021-12-01 2022-11-30 11118265 bus:FullAccounts 2021-12-01 2022-11-30 11118265 bus:SmallCompaniesRegimeForAccounts 2021-12-01 2022-11-30 11118265 bus:RegisteredOffice 2021-12-01 2022-11-30 11118265 bus:Director1 2021-12-01 2022-11-30 11118265 bus:PrivateLimitedCompanyLtd 2021-12-01 2022-11-30 11118265 core:FurnitureFittingsToolsEquipment 2021-12-01 2022-11-30 11118265 core:OfficeEquipment 2021-12-01 2022-11-30 11118265 countries:EnglandWales 2021-12-01 2022-11-30 11118265 2021-11-30 11118265 core:FurnitureFittingsToolsEquipment 2021-11-30 11118265 2020-12-01 2021-11-30 11118265 2021-11-30 11118265 core:RetainedEarningsAccumulatedLosses 2021-11-30 11118265 core:RevaluationReserve 2021-11-30 11118265 core:ShareCapital 2021-11-30 11118265 core:CurrentFinancialInstruments 2021-11-30 11118265 core:CurrentFinancialInstruments core:WithinOneYear 2021-11-30 11118265 core:Non-currentFinancialInstruments 2021-11-30 11118265 core:Non-currentFinancialInstruments core:AfterOneYear 2021-11-30 11118265 core:FurnitureFittingsToolsEquipment 2021-11-30 iso4217:GBP xbrli:pure

Registration number: 11118265

Preemptive Investments Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Preemptive Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Preemptive Investments Ltd

Company Information

Director

Mr Steven Andrew Bygrave

Registered office

1 Market Hill
Calne
Wiltshire
SN11 0BT

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Preemptive Investments Ltd

(Registration number: 11118265)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

278

288

Investment property

6

835,000

815,000

 

835,278

815,288

Current assets

 

Debtors

7

215,418

214,524

Cash at bank and in hand

 

72,635

72,102

 

288,053

286,626

Creditors: Amounts falling due within one year

8

(9,898)

(2,250)

Net current assets

 

278,155

284,376

Total assets less current liabilities

 

1,113,433

1,099,664

Creditors: Amounts falling due after more than one year

8

(535,657)

(535,657)

Provisions for liabilities

(91,826)

(88,433)

Net assets

 

485,950

475,574

Capital and reserves

 

Called up share capital

100

100

Revaluation reserve

391,467

377,004

Retained earnings

94,383

98,470

Shareholders' funds

 

485,950

475,574

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 6 November 2023
 

 

Preemptive Investments Ltd

(Registration number: 11118265)
Balance Sheet as at 30 November 2022 (continued)

.........................................
Mr Steven Andrew Bygrave
Director

 

Preemptive Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Market Hill
Calne
Wiltshire
SN11 0BT
England

These financial statements were authorised for issue by the director on 6 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

25% Straight Line

 

Preemptive Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.Valuation of the properties has been taken from the vaulations made by the mortgage lender.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

156

119

 

Preemptive Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2021

475

475

Additions

146

146

At 30 November 2022

621

621

Depreciation

At 1 December 2021

187

187

Charge for the year

156

156

At 30 November 2022

343

343

Carrying amount

At 30 November 2022

278

278

At 30 November 2021

288

288

6

Investment properties

2022
£

At 1 December

815,000

Additions

2,145

Fair value adjustments

17,855

At 30 November

835,000

The fair value of the property has been arrived at on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

There has been no valuation of investment property by an independent valuer.

7

Debtors

Current

Note

2022
£

2021
£

Amounts owed by related parties

212,112

211,780

Prepayments

 

-

194

Other debtors

 

3,306

2,550

 

Preemptive Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022 (continued)

8

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

34

17

Taxation and social security

7,721

-

Accruals and deferred income

2,143

2,233

9,898

2,250

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

535,657

535,657

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Other borrowings

535,657

535,657