REGISTERED NUMBER: |
Patton Interests Limited |
Unaudited Financial Statements |
for the Year Ended |
31 July 2023 |
REGISTERED NUMBER: |
Patton Interests Limited |
Unaudited Financial Statements |
for the Year Ended |
31 July 2023 |
Patton Interests Limited (Registered number: 01017032) |
Contents of the Financial Statements |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Patton Interests Limited |
Company Information |
for the Year Ended 31 July 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Clarendon Place |
Leamington Spa |
Warwickshire |
CV32 5QL |
Patton Interests Limited (Registered number: 01017032) |
Balance Sheet |
31 July 2023 |
31.7.23 | 31.7.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( | ) | ( | ) |
PROVISIONS FOR LIABILITIES | ( | ) | ( | ) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 | 100 | 100 |
Fair value reserve | 10 | 394,320 | 394,320 |
Retained earnings | 10 | 798,176 | 749,491 |
SHAREHOLDERS' FUNDS |
The director acknowledges her 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. |
Patton Interests Limited (Registered number: 01017032) |
Balance Sheet - continued |
31 July 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
Patton Interests Limited (Registered number: 01017032) |
Notes to the Financial Statements |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Patton Interests Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Freehold land and buildings are held as investment properties and, as such, are included at open market value. |
Depreciation is provided at the following annual rates in order to write off each of the other assets over their estimated useful life. |
Computer equipment - 25% 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 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. |
Fair value reserve |
Fair value changes in investment properties are recorded in the fair value reserve which is a non-distributable profit reserve. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
Patton Interests Limited (Registered number: 01017032) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2022 |
and 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
Fair value at 31 July 2023 is represented by: |
£ |
Valuation in 2003 | 349,389 |
Valuation in 2006 | 146,954 |
Valuation in 2006 | (48,000 | ) |
Valuation in 2007 | (57,582 | ) |
Valuation in 2012 | 9,853 |
Valuation in 2015 | (110,985 | ) |
Valuation in 2017 | 135,150 |
Cost | 762,569 |
1,187,348 |
If investment properties had not been revalued they would have been included at the following historical cost: |
31.7.23 | 31.7.22 |
£ | £ |
Cost | 762,569 | 762,569 |
Investment property was valued on an open market basis on 31 July 2017 by John Shepherd Chartered surveyors . |
Patton Interests Limited (Registered number: 01017032) |
Notes to the Financial Statements - continued |
for the Year Ended 31 July 2023 |
5. | INVESTMENT PROPERTY - continued |
The director deems these values to represent the fair value of the properties as at 31st July 2022. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Trade creditors |
Tax |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.7.23 | 31.7.22 |
£ | £ |
Director's loan account | 140,231 | 143,305 |
There are no agreed repayment terms for the director's loan account. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.7.23 | 31.7.22 |
value: | £ | £ |
ordinary | 1 | 100 | 100 |
10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 August 2022 | 749,491 | 1,143,811 |
Profit for the year |
At 31 July 2023 | 1,192,496 |