Preemptive Property Limited 08957057 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is 68100, 68209 Digita Accounts Production Advanced 6.30.9574.0 true true 08957057 2022-04-01 2023-03-31 08957057 2023-03-31 08957057 core:RetainedEarningsAccumulatedLosses 2023-03-31 08957057 core:RevaluationReserve 2023-03-31 08957057 core:ShareCapital 2023-03-31 08957057 core:CurrentFinancialInstruments 2023-03-31 08957057 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08957057 core:Non-currentFinancialInstruments 2023-03-31 08957057 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08957057 core:FurnitureFittingsToolsEquipment 2023-03-31 08957057 bus:SmallEntities 2022-04-01 2023-03-31 08957057 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08957057 bus:FullAccounts 2022-04-01 2023-03-31 08957057 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 08957057 bus:RegisteredOffice 2022-04-01 2023-03-31 08957057 bus:Director1 2022-04-01 2023-03-31 08957057 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08957057 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 08957057 core:PlantMachinery 2022-04-01 2023-03-31 08957057 countries:EnglandWales 2022-04-01 2023-03-31 08957057 2022-03-31 08957057 core:FurnitureFittingsToolsEquipment 2022-03-31 08957057 2021-04-01 2022-03-31 08957057 2022-03-31 08957057 core:RetainedEarningsAccumulatedLosses 2022-03-31 08957057 core:RevaluationReserve 2022-03-31 08957057 core:ShareCapital 2022-03-31 08957057 core:CurrentFinancialInstruments 2022-03-31 08957057 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 08957057 core:Non-currentFinancialInstruments 2022-03-31 08957057 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 08957057 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 08957057

Preemptive Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Preemptive Property Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Preemptive Property Limited

Company Information

Director

Mr Steven Andrew Bygrave

Registered office

79 Chantry Gardens
Southwick
Wiltshire
BA14 9QS

Accountants

RiverView Portfolio Limited
1 Market Hill
Calne
Wiltshire
SN11 0BT

 

Preemptive Property Limited

(Registration number: 08957057)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

69

168

Investment property

6

310,000

310,000

 

310,069

310,168

Current assets

 

Debtors

7

154

152

Cash at bank and in hand

 

101,888

110,350

 

102,042

110,502

Creditors: Amounts falling due within one year

8

(50,998)

(55,183)

Net current assets

 

51,044

55,319

Total assets less current liabilities

 

361,113

365,487

Creditors: Amounts falling due after more than one year

8

(400,403)

(400,285)

Provisions for liabilities

(28,173)

(28,173)

Net liabilities

 

(67,463)

(62,971)

Capital and reserves

 

Called up share capital

1

1

Revaluation reserve

120,106

120,106

Retained earnings

(187,570)

(183,078)

Shareholders' deficit

 

(67,463)

(62,971)

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 22 December 2023
 

 

Preemptive Property Limited

(Registration number: 08957057)
Balance Sheet as at 31 March 2023 (continued)

.........................................
Mr Steven Andrew Bygrave
Director

 

Preemptive Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
79 Chantry Gardens
Southwick
Wiltshire
BA14 9QS

These financial statements were authorised for issue by the director on 22 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% Straight Line

 

Preemptive Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

2

Accounting policies (continued)

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2022 - 0).

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

99

160

 

Preemptive Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

964

964

At 31 March 2023

964

964

Depreciation

At 1 April 2022

796

796

Charge for the year

99

99

At 31 March 2023

895

895

Carrying amount

At 31 March 2023

69

69

At 31 March 2022

168

168

6

Investment properties

2023
£

At 1 April

310,000

At 31 March

310,000

The fair value of the property at 31st March 2023 has been arrived on the basis of a valuation carried out at that date by the director of the company, who is not a professionally qualified valuer. The valuation of £310,000 was arrived at by reference to the market evidence of transaction prices for similar properties in its location the property is situated.

7

Debtors

Current

2023
£

2022
£

Prepayments

154

152

 

Preemptive Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

350

-

Accruals and deferred income

2,625

2,275

Other creditors

48,023

52,908

50,998

55,183

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

191,210

191,210

Other non-current financial liabilities

 

209,193

209,075

 

400,403

400,285

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings

191,210

191,210