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REGISTERED NUMBER: 10739542 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Purchil Properties Ltd

Purchil Properties Ltd (Registered number: 10739542)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Purchil Properties Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mrs E M Fernandez-Prados
F J K Adatsi





REGISTERED OFFICE: 3rd Floor
207 Regent Street
London
London
W1B 3HH





REGISTERED NUMBER: 10739542 (England and Wales)





ACCOUNTANTS: Cowan & Partners Limited
60 Constitution Street
Edinburgh
EH6 6RR

Purchil Properties Ltd (Registered number: 10739542)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,742 80,555
Investment property 5 17,849,027 17,829,306
17,911,769 17,909,861

CURRENT ASSETS
Investments 6 5,171,212 4,260,547
Cash at bank 420,559 1,256,895
5,591,771 5,517,442
CREDITORS
Amounts falling due within one year 7 53,245 985,889
NET CURRENT ASSETS 5,538,526 4,531,553
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,450,295

22,441,414

CAPITAL AND RESERVES
Called up share capital 23,131,414 23,131,414
Retained earnings 318,881 (690,000 )
23,450,295 22,441,414

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Purchil Properties Ltd (Registered number: 10739542)

Balance Sheet - continued
31 December 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 18 April 2024 and were signed on its behalf by:





F J K Adatsi - Director


Purchil Properties Ltd (Registered number: 10739542)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Purchil Properties Ltd 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 (£).


The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

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.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Taxation
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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Investments
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Purchil Properties Ltd (Registered number: 10739542)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 9,305 146,165 155,470
DEPRECIATION
At 1 January 2023 - 74,915 74,915
Charge for year - 17,813 17,813
At 31 December 2023 - 92,728 92,728
NET BOOK VALUE
At 31 December 2023 9,305 53,437 62,742
At 31 December 2022 9,305 71,250 80,555

No indicators of impairment were noted in the year.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 17,829,306
Additions 19,721
At 31 December 2023 17,849,027
NET BOOK VALUE
At 31 December 2023 17,849,027
At 31 December 2022 17,829,306

The directors feel that the values of the properties as held reflect market value and therefore no revision to these values is required in the current year.

6. CURRENT ASSET INVESTMENTS
31.12.23 31.12.22
£    £   
Listed investments 5,171,212 4,260,547

Purchil Properties Ltd (Registered number: 10739542)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors - 892,444
Taxation and social security 46,707 87,506
Other creditors 6,538 5,939
53,245 985,889

8. OFF-BALANCE SHEET ARRANGEMENTS

Goldman Sachs holds a deed of Guarantee and Cross-Collateralisation in relation to the company assets.