REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28th February 2023 |
for |
PATRICK ESTATE AGENCIES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 28th February 2023 |
for |
PATRICK ESTATE AGENCIES LIMITED |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Contents of the Financial Statements |
for the Year Ended 28th February 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PATRICK ESTATE AGENCIES LIMITED |
Company Information |
for the Year Ended 28th February 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Accountants |
89 Leigh Road |
Eastleigh |
Hampshire |
SO50 9DQ |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Balance Sheet |
28th February 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Balance Sheet - continued |
28th February 2023 |
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 director and authorised for issue on |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Notes to the Financial Statements |
for the Year Ended 28th February 2023 |
1. | STATUTORY INFORMATION |
Patrick Estate Agencies Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced sales of services, 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. |
Plant & machinery etc - 25% on reducing balance |
Investment property |
The company carries investment property on the balance sheet at fair value. Any changes to fair value are recognised in the profit and loss. |
No depreciation is provided for in respect of the investment property as it is accounted for under the provisions of Section 16 of FRS 102. |
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 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Notes to the Financial Statements - continued |
for the Year Ended 28th February 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1st March 2022 |
Additions |
At 28th February 2023 |
DEPRECIATION |
At 1st March 2022 |
Charge for year |
At 28th February 2023 |
NET BOOK VALUE |
At 28th February 2023 |
At 28th February 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st March 2022 |
and 28th February 2023 |
NET BOOK VALUE |
At 28th February 2023 |
At 28th February 2022 |
Fair value at 28th February 2023 is represented by: |
£ |
Valuation in 2019 | 38,963 |
Valuation in 2021 | 45,000 |
Cost | 476,037 |
560,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 476,037 | 476,037 |
Investment property was valued on open market basis basis on 28th February 2023 by the director Mr M Patrick . |
PATRICK ESTATE AGENCIES LIMITED (REGISTERED NUMBER: 06091490) |
Notes to the Financial Statements - continued |
for the Year Ended 28th February 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
9. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1st March 2022 | 630,855 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 28th February 2023 | 665,649 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 28th February 2023 and 28th February 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
11. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |