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REGISTERED NUMBER: 00680197 (England and Wales)









Unaudited Financial Statements

for the Period

1 November 2022 to 30 November 2023

for

Praedlands Limited

Praedlands Limited (Registered number: 00680197)






Contents of the Financial Statements
for the Period 1 November 2022 to 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Praedlands Limited

Company Information
for the Period 1 November 2022 to 30 November 2023







DIRECTORS: T P Mackworth-Praed
Ms N E Mackworth-Praed
Mrs C E Mackworth-Praed





REGISTERED OFFICE: PO Box 665
Epsom
Surrey
KT17 9NY





BUSINESS ADDRESS: Tubee Tot Hill Lane
Headley
Epsom
Surrey
KT18 6PQ





REGISTERED NUMBER: 00680197 (England and Wales)





ACCOUNTANTS: Bullimores LLP
Chartered Accountants
Old Printers Yard
156 South Street
Dorking
Surrey
RH4 2HF

Praedlands Limited (Registered number: 00680197)

Balance Sheet
30 November 2023

30.11.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,565,882 4,991,553

CURRENT ASSETS
Debtors 5 10,248 6,704
Cash at bank and in hand 1,501,414 120,873
1,511,662 127,577
CREDITORS
Amounts falling due within one year 6 288,441 14,490
NET CURRENT ASSETS 1,223,221 113,087
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,789,103

5,104,640

CREDITORS
Amounts falling due after more than one year 7 (20,436 ) (56,343 )

PROVISIONS FOR LIABILITIES 8 (765,938 ) (979,168 )
NET ASSETS 4,002,729 4,069,129

CAPITAL AND RESERVES
Called up share capital 22,750 22,750
Fair value reserve 9 3,063,750 3,916,673
Retained earnings 916,229 129,706
SHAREHOLDERS' FUNDS 4,002,729 4,069,129

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 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.

Praedlands Limited (Registered number: 00680197)

Balance Sheet - continued
30 November 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 March 2024 and were signed on its behalf by:





T P Mackworth-Praed - Director


Praedlands Limited (Registered number: 00680197)

Notes to the Financial Statements
for the Period 1 November 2022 to 30 November 2023

1. STATUTORY INFORMATION

Praedlands 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rent due for the financial period under review, net of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Improvements to property - 10% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance

With the exception of freehold land, tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. No depreciation is provided on land as it has an indefinite useful life.

The company has taken advantage of the transitional relief under FRS102 and there was a one off revaluation of the freehold property at fair value at the date of transition.

At each reporting date, assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and an impairment loss is recognised immediately in the income statement.

Taxation
Taxation for the period 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.


Praedlands Limited (Registered number: 00680197)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 30 November 2023

2. ACCOUNTING POLICIES - continued
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 period 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold Long to Plant and
property leasehold property machinery
£    £    £    £   
COST OR VALUATION
At 1 November 2022 5,587,706 2,000 13,509 40,625
Additions 21,717 - - -
Disposals (1,507,105 ) - - -
At 30 November 2023 4,102,318 2,000 13,509 40,625
DEPRECIATION
At 1 November 2022 609,780 2,000 4,505 38,980
Charge for period 64,150 - 1,280 350
Eliminated on disposal (126,337 ) - - -
At 30 November 2023 547,593 2,000 5,785 39,330
NET BOOK VALUE
At 30 November 2023 3,554,725 - 7,724 1,295
At 31 October 2022 4,977,926 - 9,004 1,645

Praedlands Limited (Registered number: 00680197)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 1 November 2022 869 6,100 6,377 5,657,186
Additions - - - 21,717
Disposals - - - (1,507,105 )
At 30 November 2023 869 6,100 6,377 4,171,798
DEPRECIATION
At 1 November 2022 348 5,724 4,296 665,633
Charge for period 188 99 553 66,620
Eliminated on disposal - - - (126,337 )
At 30 November 2023 536 5,823 4,849 605,916
NET BOOK VALUE
At 30 November 2023 333 277 1,528 3,565,882
At 31 October 2022 521 376 2,081 4,991,553

Included in cost or valuation of land and buildings is freehold land of £ 1,135,000 (2022 - £ 1,143,000 ) which is not depreciated.

Cost or valuation at 30 November 2023 is represented by:

Improvements
Freehold Long to Plant and
property leasehold property machinery
£    £    £    £   
Valuation in 1981 868,688 - - -
Valuation in 2014 2,964,999 - - -
Cost 268,631 2,000 13,509 40,625
4,102,318 2,000 13,509 40,625

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
Valuation in 1981 - - - 868,688
Valuation in 2014 - - - 2,964,999
Cost 869 6,100 6,377 338,111
869 6,100 6,377 4,171,798

Praedlands Limited (Registered number: 00680197)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 30 November 2023

4. TANGIBLE FIXED ASSETS - continued

Freehold land and buildings were valued on an open market basis on 1 June 2014 by T Witchell, MNAEA, White & Sons .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.10.22
£    £   
Other debtors 7,822 -
Tax - 6,596
Prepayments 2,426 108
10,248 6,704

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 31.10.22
£    £   
Bank loans and overdrafts 9,000 9,000
Tax 276,442 -
Social security and other taxes - 26
Other creditors 400 2,405
Accrued expenses 2,599 3,059
288,441 14,490

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 31.10.22
£    £   
Bank loans 1-2 years 9,000 9,000
Bank loans 2-5 years 11,436 21,000
Directors' loan accounts - 26,343
20,436 56,343

8. PROVISIONS FOR LIABILITIES
30.11.23 31.10.22
£    £   
Deferred tax 765,938 979,168

Deferred
tax
£   
Balance at 1 November 2022 979,168
Utilised during period (213,230 )
Balance at 30 November 2023 765,938

Deferred tax is provided on the revaluation of the freehold property.

Praedlands Limited (Registered number: 00680197)

Notes to the Financial Statements - continued
for the Period 1 November 2022 to 30 November 2023

9. RESERVES
Fair
value
reserve
£   
At 1 November 2022 3,916,673
Released in the period (852,923 )

At 30 November 2023 3,063,750

10. RELATED PARTY DISCLOSURES

N W Mackworth-Praed, a director, and his wife are owed £nil (2022 - £26,343) in respects of amounts advanced to the company.

C Mackworth-Praed paid rent to the company of £25,144 (2022 - £21,254) during the period on an arms length basis.

11. ULTIMATE CONTROLLING PARTY

There was no single controlling party in the current or the prior financial year.

12. DIRECTORS CONSIDERATION OF GOING CONCERN

The directors have considered the basis of preparation of the financial statements in the directors report.