POWIS STREET PROPERTY COMPANY LIMITED

Company Registration Number:
00590682 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

POWIS STREET PROPERTY COMPANY LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

POWIS STREET PROPERTY COMPANY LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 10,056,323 10,056,654
Total fixed assets: 10,056,323 10,056,654
Current assets
Stocks: 255,308 255,308
Debtors:   119,654 207,328
Cash at bank and in hand: 161,178 265,794
Total current assets: 536,140 728,430
Creditors: amounts falling due within one year: 4 (285,757) (388,591)
Net current assets (liabilities): 250,383 339,839
Total assets less current liabilities: 10,306,706 10,396,493
Creditors: amounts falling due after more than one year:   (3,124,671) (3,510,696)
Provision for liabilities: (650,335) (658,572)
Total net assets (liabilities): 6,531,700 6,227,225
Capital and reserves
Called up share capital: 6 6
Revaluation reserve:54,135,5714,135,571
Profit and loss account: 2,396,123 2,091,648
Shareholders funds: 6,531,700 6,227,225

The notes form part of these financial statements

POWIS STREET PROPERTY COMPANY LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 30 September 2023
and signed on behalf of the board by:

Name: AB Cooper
Status: Director

The notes form part of these financial statements

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 2 2

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 10,060,544
At 31 March 2023 10,060,544
Depreciation
At 01 April 2022 3,890
Charge for year 331
At 31 March 2023 4,221
Net book value
At 31 March 2023 10,056,323
At 31 March 2022 10,056,654

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

The bank loans are secured by fixed charge over the investment properties.

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Revaluation reserve

2023
£
Balance at 01 April 2022 4,135,571
Surplus or deficit after revaluation 0
Balance at 31 March 2023 4,135,571

POWIS STREET PROPERTY COMPANY LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Related party transactions

Name of the related party: Grandview Holdings Limited
Relationship:
Investor
Description of the Transaction: Loan from Grandview Holdings Limited, a company in which Mr H Markham is a director and shareholder.
£
Balance at 01 April 2022 420,785
Balance at 31 March 2023 420,785
Name of the related party: Mr H Markham
Relationship:
Director
Description of the Transaction: Loan from Mr H Markham who is a director.
£
Balance at 01 April 2022 18,022
Balance at 31 March 2023 18,022
Name of the related party: Great Malvern Holdings Limited
Relationship:
Investor
Description of the Transaction: Loan from Great Malvern Holdings Limited, a company in which Mr A Cooper is a director and shareholder.
£
Balance at 01 April 2022 438,807
Balance at 31 March 2023 438,807
Name of the related party: 104/110 Charing Cross Road (Holdings) Limited
Relationship:
Parent Company
Description of the Transaction: Loan to 104/110 Charing Cross Road (Holdings) Limited
£
Balance at 01 April 2022 95,089
Balance at 31 March 2023 95,188