Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01truefalseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03839893 2022-04-01 2023-03-31 03839893 2021-04-01 2022-03-31 03839893 2023-03-31 03839893 2022-03-31 03839893 c:Director1 2022-04-01 2023-03-31 03839893 d:Buildings 2023-03-31 03839893 d:Buildings 2022-03-31 03839893 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03839893 d:OfficeEquipment 2023-03-31 03839893 d:OfficeEquipment 2022-03-31 03839893 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03839893 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03839893 d:CurrentFinancialInstruments 2023-03-31 03839893 d:CurrentFinancialInstruments 2022-03-31 03839893 d:Non-currentFinancialInstruments 2023-03-31 03839893 d:Non-currentFinancialInstruments 2022-03-31 03839893 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03839893 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03839893 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03839893 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03839893 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03839893 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 03839893 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03839893 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 03839893 d:ShareCapital 2023-03-31 03839893 d:ShareCapital 2022-03-31 03839893 d:SharePremium 2023-03-31 03839893 d:SharePremium 2022-03-31 03839893 d:RevaluationReserve 2023-03-31 03839893 d:RevaluationReserve 2022-03-31 03839893 d:RetainedEarningsAccumulatedLosses 2023-03-31 03839893 d:RetainedEarningsAccumulatedLosses 2022-03-31 03839893 c:FRS102 2022-04-01 2023-03-31 03839893 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03839893 c:FullAccounts 2022-04-01 2023-03-31 03839893 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03839893 2 2022-04-01 2023-03-31 03839893 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03839893









PNH (PROPERTIES) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
PNH (PROPERTIES) LIMITED
REGISTERED NUMBER: 03839893

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
                                                                      Note
£
£

Fixed assets
  

Tangible assets
 5 
1,503,374
1,505,006

Investments
 6 
100
100

  
1,503,474
1,505,106

Current assets
  

Debtors: amounts falling due within one year
 7 
3,448,174
3,068,185

Cash at bank and in hand
  
9,682
14,415

  
3,457,856
3,082,600

Creditors: amounts falling due within one year
 8 
(2,842,958)
(3,720,690)

Net current assets/(liabilities)
  
 
 
614,898
 
 
(638,090)

Total assets less current liabilities
  
2,118,372
867,016

Creditors: amounts falling due after more than one year
 9 
(22,500)
(32,500)

  

Net assets
  
2,095,872
834,516


Capital and reserves
  

Called up share capital 
  
200
200

Share premium account
  
100,000
100,000

Revaluation reserve
  
145,582
145,582

Profit and loss account
  
1,850,090
588,734

  
2,095,872
834,516

Page 1

 
PNH (PROPERTIES) LIMITED
REGISTERED NUMBER: 03839893
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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 Company has opted not to file the statement of Income and retained earnings in accordance with the provisions applicable to companies subject to the small companies' regime.

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 statement of income and retained earnings 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 on 21 December 2023.


P N Hunt
Director

The notes on pages 3 to 8 form part of these financial statements

Page 2

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

PNH (Properties) Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is Unit 5 Passfield Business Centre, Lynchborough Road, Passfield, Liphook, GU30 7SB.

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.

  
2.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following annual bases:
          Equipment                                 -      25% straight line

 
2.4

Investment property

Investment property is carried at fair value determined annually by the directors 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 a revaluation reserve.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

  
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment. 

  
2.7

Creditors

Short term creditors are measured at the transaction price. 

Page 3

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.9

Finance costs

Finance costs are charged to the Statement of comprehensive income 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.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.13

Taxation

Tax is recognised in the Statement of comprehensive income 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.

Page 4

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
a) Critical judgements in applying accounting policies
(i) Valuation of investment properties
The valuation of investment properties has been made by the directors based on the advice of external property surveyors. 
b) Critical accounting estimates and assumptions
The Company does not consider there to be any critical estimates and assumptions in applying accounting policies. 


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


5.


Tangible fixed assets





Investment property
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2022
1,500,000
31,069
1,531,069



At 31 March 2023

1,500,000
31,069
1,531,069



Depreciation


At 1 April 2022
-
26,063
26,063


Charge for the year on owned assets
-
1,632
1,632



At 31 March 2023

-
27,695
27,695



Net book value



At 31 March 2023
1,500,000
3,374
1,503,374



At 31 March 2022
1,500,000
5,006
1,505,006

Page 5

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
100



At 31 March 2023
100




Page 6

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Debtors

2023
2022
£
£


Amounts owed by connected companies
2,745,223
808,885

Other debtors
242,804
1,800,278

Prepayments and accrued income
460,147
459,022

3,448,174
3,068,185



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
893
964

Directors loan account
2,195,824
-

Amounts owed to group undertakings
590,526
475,733

Amounts owed to connected companies
-
3,078,140

Corporation tax
62
98,065

Other taxation and social security
28,631
42,399

Other creditors
3,522
1,889

Accruals and deferred income
13,500
13,500

2,842,958
3,720,690



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,500
32,500


Page 7

 
PNH (PROPERTIES) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
12,500
22,500


32,500
42,500



11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,417 (2022 - £1,485). Contributions totalling £239 (2022 - £228) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

During the year the Company charged management fees of £250,000 (2022 - £225,000) to its subsidiaries and associated companies. At the balance sheet date the Company was owed £2,745,223    (2022 - £2,269,255 owed to) by connected companies and owed £590,526 (2022 - £475,733) to group companies.


13.


Controlling party

The Company was under the control of P N Hunt throughout the period. 

 
Page 8