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REGISTERED NUMBER: 06936457 (England and Wales)





UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023

FOR

POVEY (PROPERTIES) LIMITED

POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


POVEY (PROPERTIES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: C Povey
Mrs M J Povey
S C Povey
Mrs L Collins
Mrs C Hamilton





SECRETARY: Mrs M J Povey





REGISTERED OFFICE: East Shefford House
Great Shefford
Hungerford
Berkshire
RG17 7EF





REGISTERED NUMBER: 06936457 (England and Wales)





ACCOUNTANTS: Martin and Company
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 11,087,309 11,081,984
11,087,309 11,081,984

CURRENT ASSETS
Debtors 6 99,570 159,179
Cash at bank 289,746 292,146
389,316 451,325
CREDITORS
Amounts falling due within one year 7 1,050,024 927,733
NET CURRENT LIABILITIES (660,708 ) (476,408 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,426,601

10,605,576

CREDITORS
Amounts falling due after more than one year 8 - 315,000
NET ASSETS 10,426,601 10,290,576

CAPITAL AND RESERVES
Called up share capital 5,200,000 5,200,000
Retained earnings 5,226,601 5,090,576
SHAREHOLDERS' FUNDS 10,426,601 10,290,576

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 in accordance with Section 476 of the Companies Act 2006.

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.

POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

BALANCE SHEET - continued
30TH JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th February 2024 and were signed on its behalf by:





C Povey - Director


POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023


1. STATUTORY INFORMATION

Povey (Properties) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 1 (2022 - 2 ) .

POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st July 2022
and 30th June 2023 1,300
DEPRECIATION
At 1st July 2022
and 30th June 2023 1,300
NET BOOK VALUE
At 30th June 2023 -
At 30th June 2022 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st July 2022 11,081,984
Additions 5,325
At 30th June 2023 11,087,309
NET BOOK VALUE
At 30th June 2023 11,087,309
At 30th June 2022 11,081,984

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 94,996 50,117
Other debtors 4,574 109,062
99,570 159,179

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,556 6,877
Taxation and social security 205,152 172,182
Other creditors 839,316 748,674
1,050,024 927,733

POVEY (PROPERTIES) LIMITED (REGISTERED NUMBER: 06936457)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 315,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 315,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 315,000

10. ULTIMATE PARENT COMPANY

The ultimate parent company is B S Povey 2 Limited, a company registered in England and Wales.

11. RELATED PARTY DISCLOSURES

Included within other creditors is a loan from the directors of £581,050 (2022:£517,550).