Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08624872 2022-08-01 2023-07-31 08624872 2021-08-01 2022-07-31 08624872 2023-07-31 08624872 2022-07-31 08624872 2021-08-01 08624872 c:Director1 2022-08-01 2023-07-31 08624872 c:Director2 2022-08-01 2023-07-31 08624872 d:FreeholdInvestmentProperty 2023-07-31 08624872 d:FreeholdInvestmentProperty 2022-07-31 08624872 d:FreeholdInvestmentProperty 2 2022-08-01 2023-07-31 08624872 d:CurrentFinancialInstruments 2023-07-31 08624872 d:CurrentFinancialInstruments 2022-07-31 08624872 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 08624872 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 08624872 d:ShareCapital 2023-07-31 08624872 d:ShareCapital 2022-07-31 08624872 d:RetainedEarningsAccumulatedLosses 2023-07-31 08624872 d:RetainedEarningsAccumulatedLosses 2022-07-31 08624872 c:OrdinaryShareClass1 2022-08-01 2023-07-31 08624872 c:OrdinaryShareClass1 2023-07-31 08624872 c:FRS102 2022-08-01 2023-07-31 08624872 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 08624872 c:FullAccounts 2022-08-01 2023-07-31 08624872 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 08624872 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 08624872 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 08624872









P & D PROPERTY LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
P & D PROPERTY LIMITED
REGISTERED NUMBER: 08624872

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
787,000
744,975

Current assets
  

Debtors: amounts falling due within one year
 5 
362
378

Cash at bank
  
82,971
62,034

Current liabilities
  
83,333
62,412

Creditors: amounts falling due within one year
 6 
(494,045)
(489,406)

Net current liabilities
  
 
 
(410,712)
 
 
(426,994)

Total assets less current liabilities
  
376,288
317,981

Provisions for liabilities
  

Deferred tax
  
(68,097)
(43,770)

Net assets
  
308,191
274,211


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
308,091
274,111

  
308,191
274,211


Page 1

 
P & D PROPERTY LIMITED
REGISTERED NUMBER: 08624872

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider 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 directors acknowledge their 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 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 by: 






Mr P J Woods
Mrs D L Woods
Director
Director


Date: 20 December 2023
Date:20 December 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
P & D PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

P & D Property Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit 4, Chettisham Garage, Lynn Road, Ely, Cambridgeshire, CB6 1SA. This Company is not part of a group.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
P & D PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 corporation 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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 profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 4

 
P & D PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
P & D PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
744,975


Surplus on revaluation
42,025



At 31 July 2023
787,000


Comprising


Cost
486,567

Annual revaluation surplus/(deficit):


2016-2021
222,933

2022
35,475

2023
42,025

At 31 July 2023
787,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.




5.


Debtors

2023
2022
£
£


Prepayments
362
378



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
3,819
3,665

Other creditors
488,411
484,091

Accruals
1,815
1,650

494,045
489,406


Page 6

 
P & D PROPERTY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Deferred taxation




2023
2022


£

£






At beginning of year
(43,769)
(36,515)


Charged to profit or loss
(24,328)
(7,255)



At end of year
(68,097)
(43,770)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Revaluation of investment property
(68,097)
(43,770)


8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100



9.


Related party transactions

During the year the Company operated loans with the directors of the Company. The amount payable to the directors of the Company at the year end was £30,443 (2022 - £30,443). These loans are interest free and repayable on demand.
The Company also operated a loan with P Woods Construction Ltd, a Company under common control. The amount payable to P Woods Construction Ltd at the year end was £457,969 (2022 - £453,648). This loan is interest free and repayable on demand.


Page 7