REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Pruce Newman Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2023 |
for |
Pruce Newman Properties Limited |
Pruce Newman Properties Limited (Registered number: 06035951) |
Contents of the Financial Statements |
for the Year Ended 31 May 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Pruce Newman Properties Limited |
Company Information |
for the Year Ended 31 May 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
1 Sopwith Crescent |
Wickford |
Essex |
SS11 8YU |
Pruce Newman Properties Limited (Registered number: 06035951) |
Balance Sheet |
31 May 2023 |
31.5.23 | 31.5.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pruce Newman Properties Limited (Registered number: 06035951) |
Notes to the Financial Statements |
for the Year Ended 31 May 2023 |
1. | STATUTORY INFORMATION |
Pruce Newman Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Freehold land and buildings are shown at valuation less any accumulated impairment losses. Depreciation is not provided on freehold land and buildings which are shown at current valuation. Increases in carrying amount are recognised in other comprehensive income and accumulated in equity in revaluation reserve. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Pruce Newman Properties Limited (Registered number: 06035951) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 June 2022 |
and 31 May 2023 |
NET BOOK VALUE |
At 31 May 2023 |
At 31 May 2022 |
Cost or valuation at 31 May 2023 is represented by: |
Land and |
buildings |
£ |
Valuation in 2016 | 85,000 |
Valuation in 2019 | 110,000 |
Valuation in 2022 | 80,000 |
Cost | 600,000 |
875,000 |
If freehold land and buildings had not been revalued they would have been included at the following historical cost: |
31.5.23 | 31.5.22 |
£ | £ |
Cost | 600,000 | 600,000 |
Freehold land and buildings were valued on an open market basis on 30 August 2022 by Watsons Surveyors . |
5. | SECURED DEBTS |
Pruce Newman Properties Limited has provided a cross-guarantee for a bank loan and overdraft to Pruce Newman Pipework Limited. It has also allowed the same bank loan to be secured via a legal charge over the freehold property that is owned by Pruce Newman Properties Limited. |
Pruce Newman Properties Limited (Registered number: 06035951) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2023 |
6. | ULTIMATE CONTROLLING PARTY |
Pruce Newman Properties Limited is a wholly owned subsidiary of Pruce Newman (Holdings) Limited, which is a wholly owned subsidiary of Pruce Newman Group Limited. The ultimate controlling party of the group is the Directors of Pruce Newman Group Limited. The registered office of Pruce Newman Group Limited is: |
C/o Pruce Newman Pipework |
Ayton Road |
Wymondham |
Norfolk |
NR18 0QJ |