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REGISTERED NUMBER: 04860316 (England and Wales)















Financial Statements for the Year Ended 31 December 2022

for

P & J Properties (Yorkshire) Limited

P & J Properties (Yorkshire) Limited (Registered number: 04860316)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


P & J Properties (Yorkshire) Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: P H Emsley
J M Emsley



SECRETARY: P H Emsley



REGISTERED OFFICE: Claro Park
Claro Road
Harrogate
HG1 4BB



REGISTERED NUMBER: 04860316 (England and Wales)



AUDITORS: Haines Watts
Chartered Accountants &
Statutory Auditors
3rd Floor
56 Wellington Street
Leeds
West Yorkshire
LS1 2EE



BANKERS: National Westminster Bank PLC
3 Cambridge Crescent
Harrogate
North Yorkshire
HG1 1PJ

P & J Properties (Yorkshire) Limited (Registered number: 04860316)

Balance Sheet
31 December 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 4,437,000 4,607,787

CURRENT ASSETS
Debtors 6 431,784 266,989
Cash at bank 1,437,880 1,243,230
1,869,664 1,510,219
CREDITORS
Amounts falling due within one year 7 193,699 159,987
NET CURRENT ASSETS 1,675,965 1,350,232
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,112,965

5,958,019

CAPITAL AND RESERVES
Called up share capital 8 100,200 100,200
Share premium 1,399,900 1,399,900
Retained earnings 4,612,865 4,457,919
SHAREHOLDERS' FUNDS 6,112,965 5,958,019

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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 April 2024 and were signed on its behalf by:




J M Emsley - Director



P H Emsley - Director


P & J Properties (Yorkshire) Limited (Registered number: 04860316)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

P & J Properties (Yorkshire) 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information in making their assessment. Based on these assessments, given the measures that could be undertaken to mitigate the current conditions, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

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

Interest income
Interest income is recognised in the statement of comprehensive income in the period in which it is receivable.

Investment property
Investment property is carried at fair value determined annually by the directors. No depreciation is provided. Change in fair value are recognised in the statement of comprehensive income.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


P & J Properties (Yorkshire) Limited (Registered number: 04860316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

3. ACCOUNTING POLICIES - continued
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.

Finance costs
Finance costs are charged to the statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged at a constant rate on the carrying amount.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

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

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 obligation.

Provisions are charged as expense to the profit and loss account 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 in the balance sheet.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

P & J Properties (Yorkshire) Limited (Registered number: 04860316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022 4,607,787
Revaluations (170,787 )
At 31 December 2022 4,437,000
NET BOOK VALUE
At 31 December 2022 4,437,000
At 31 December 2021 4,607,787

The 2022 valuations were made by the directors, on an open market value basis.

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2022 (170,787 )
Cost 4,607,787
4,437,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 19,058 3,990
Other debtors 411,943 262,216
Prepayments and accrued income 783 783
431,784 266,989

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 2,171 8,196
Tax 76,300 73,000
VAT 89,580 52,676
Other creditors 3,257 3,257
Accruals and deferred income 22,391 22,858
193,699 159,987

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100,200 Ordinary £1 100,200 100,200

P & J Properties (Yorkshire) Limited (Registered number: 04860316)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Matthew Barton BA (Hons) FCA CTA (Senior Statutory Auditor)
for and on behalf of Haines Watts

The audit report was signed on 9 April 2024.

10. RELATED PARTY DISCLOSURES

No transactions were undertaken with related parties as required to be disclosed under Section 1A of FRS 102.