2022-10-012023-09-302023-09-30false10132874Pedol Investments 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Pedol Investments Limited

Registered Number
10132874
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

Pedol Investments Limited
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

A R Evans
L H Evans
T Evans

Registered Address

74 High Street
Fishguard
SA65 9AU

Registered Number

10132874 (England and Wales)
Pedol Investments Limited
Balance Sheet as at
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets44,039,5674,116,674
4,039,5674,116,674
Current assets
Debtors515,700-
Cash at bank and on hand138,76032,170
154,46032,170
Creditors amounts falling due within one year6(53,400)(74,851)
Net current assets (liabilities)101,060(42,681)
Total assets less current liabilities4,140,6274,073,993
Creditors amounts falling due after one year7(3,950,256)(3,872,615)
Provisions for liabilities8(119,410)(100,319)
Net assets70,961101,059
Capital and reserves
Called up share capital400400
Profit and loss account70,561100,659
Shareholders' funds70,961101,059
The financial statements were approved and authorised for issue by the Board of Directors on 12 April 2024, and are signed on its behalf by:
A R Evans
Director
Registered Company No. 10132874
Pedol Investments Limited
Notes to the Financial Statements
for the year ended 30 September 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on buildings at 2% on the straight line basis and on other tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery15
2.Average number of employees
There were no employees during the years ended 30 September 2022 or 30 September 2023.

20232022
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 October 224,442,002
At 30 September 234,442,002
Depreciation and impairment
At 01 October 22325,329
Charge for year77,106
At 30 September 23402,436
Net book value
At 30 September 234,039,567
At 30 September 224,116,674
5.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables12,000-
Amounts owed by group undertakings3,700-
Total15,700-
6.Creditors: amounts due within one year

2023

2022

££
Bank borrowings and overdrafts40,00066,000
Taxation and social security10,6266,479
Other creditors2,2751,872
Accrued liabilities and deferred income499500
Total53,40074,851
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts2,218,1992,214,988
Amounts owed to related parties1,732,0571,657,627
Total3,950,2563,872,615
The commercial mortgage is secured on the freehold property of the company. The loan from Nantcwmrhys Limited is unsecured and interest free and will not be repaid until all other liabilities of the company have been repaid.
8.Provisions for liabilities
The increase in the deferred tax charge for the year is a result of accelerated capital allowances and reduction in the amount of losses carried forwards, £19,091 (2022 - £16,492), and the forthcoming change in the rate of corporation tax from £19% to 25%, £nil (2022 - £23,627) - a total of £19,091 (2022 - £40,569).

2023

2022

££
Net deferred tax liability (asset)119,410100,319
Total119,410100,319
9.Related party transactions
Under a commercial lease rent is paid by Nantcwmrhys Limited, a company under common control, amounting to £240,000 (2022 - £180,000).
10.Controlling party
The ultimate controlling parties are Mr and Mrs L H Evans by virtue of their 66.67% shareholding in the holding company Pedol Investments (Holdings) Limited.
11.Parent-subsidiary relationships
The company became a wholly owned subsiduary following the purchase of all the share capital by Pedol Investments (Holdings) Limited on 2 June 2023.