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Company registration number: 00777147
Penybont Real Estate Company Limited
Unaudited filleted financial statements
31 March 2023
Penybont Real Estate Company Limited
Contents
Balance sheet
Notes to the financial statements
Penybont Real Estate Company Limited
Balance sheet
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 5,294,384 5,287,510
Investments 6 548 548
_______ _______
5,294,932 5,288,058
Current assets
Stocks 2,262 2,262
Debtors 7 15,559 12,772
Cash at bank and in hand 1,385,592 1,192,642
_______ _______
1,403,413 1,207,676
Creditors: amounts falling due
within one year 8 ( 86,242) ( 91,549)
_______ _______
Net current assets 1,317,171 1,116,127
_______ _______
Total assets less current liabilities 6,612,103 6,404,185
Provisions for liabilities ( 343,246) ( 329,927)
_______ _______
Net assets 6,268,857 6,074,258
_______ _______
Capital and reserves
Called up share capital 9 140 140
Revaluation reserve 2,409,830 2,386,975
Profit and loss account 3,858,887 3,687,143
_______ _______
Shareholders funds 6,268,857 6,074,258
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 October 2023 , and are signed on behalf of the board by:
...........................................
D.D. Morgan
Director
Company registration number: 00777147
Penybont Real Estate Company Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment 10% reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Freehold property Short leasehold property Fixtures, fittings and equipment Total
£ £ £ £
Cost or valuation
At 1 April 2022 5,286,056 267 3,995 5,290,318
Additions - - 4,140 4,140
Disposals ( 106,000) - - ( 106,000)
Revaluation 109,059 - - 109,059
_______ _______ _______ _______
At 31 March 2023 5,289,115 267 8,135 5,297,517
_______ _______ _______ _______
Depreciation
At 1 April 2022 - - 2,808 2,808
Charge for the year - - 325 325
_______ _______ _______ _______
At 31 March 2023 - - 3,133 3,133
_______ _______ _______ _______
Carrying amount
At 31 March 2023 5,289,115 267 5,002 5,294,384
_______ _______ _______ _______
At 31 March 2022 5,286,056 267 1,187 5,287,510
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2022 and 31 March 2023 548 548
_______ _______
Impairment
At 1 April 2022 and 31 March 2023 - -
_______ _______
Carrying amount
At 31 March 2023 548 548
_______ _______
At 31 March 2022 548 548
_______ _______
7. Debtors
2023 2022
£ £
Prepayments and accrued income 6,103 6,060
Other debtors 9,456 6,712
_______ _______
15,559 12,772
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 11,210 11,210
Accruals and deferred income 4,210 4,029
Social security and other taxes 32,760 36,038
Director loan accounts 37,975 40,180
Other creditors 87 92
_______ _______
86,242 91,549
_______ _______
The bank borrowings are secured on the assets of the company.
9. Called up share capital
Issued, called up and fully paid
2023 2022
No £ No £
Ordinary shares shares of £ 1.00 each 140 140 140 140
_______ _______ _______ _______