Registered number
12468012
Priestley Investments (CH) Limited
Filleted Accounts
31 December 2022
Priestley Investments (CH) Limited
Registered number: 12468012
Balance Sheet
as at 31 December 2022
Notes 31/12/22 27/2/22
£ £
Fixed assets
Tangible assets 3 3,917,999 2,545,553
Current assets
Cash at bank and in hand 1 1
Creditors: amounts falling due within one year 4 (893,799) (904,147)
Net current liabilities (893,798) (904,146)
Total assets less current liabilities 3,024,201 1,641,407
Creditors: amounts falling due after more than one year 5 (1,952,284) (1,637,284)
Provisions for liabilities (200,915) -
Net assets 871,002 4,123
Capital and reserves
Called up share capital 1 1
Revaluation reserve 6 856,531 -
Profit and loss account 14,470 4,122
Shareholder's funds 871,002 4,123
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Derry Ellen McCulloch
Director
Approved by the board on 19 February 2024
Priestley Investments (CH) Limited
Notes to the Accounts
for the period from 28 February 2022 to 31 December 2022
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 31/12/22 27/2/22
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
At 28 February 2022 2,545,553
Additions 315,000
Surplus on revaluation 1,057,446
At 31 December 2022 3,917,999
Depreciation
At 31 December 2022 -
Net book value
At 31 December 2022 3,917,999
At 27 February 2022 2,545,553
4 Creditors: amounts falling due within one year 31/12/22 27/2/22
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 892,832 903,180
Taxation and social security costs 967 967
893,799 904,147
5 Creditors: amounts falling due after one year 31/12/22 27/2/22
£ £
Bank loans 1,952,284 1,637,284
6 Revaluation reserve 31/12/22 27/2/22
£ £
Gain on revaluation of buildings 1,057,446 -
Deferred taxation arising on the revaluation of land and buildings (200,915) -
At 31 December 2022 856,531 -
7 Other information
Priestley Investments (CH) Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor Offices
Marygate House
2 Marygate
Wakefield
WF1 1NX
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