Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31true2022-08-01falseNo description of principal activity11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00733900 2022-08-01 2023-07-31 00733900 2021-08-01 2022-07-31 00733900 2023-07-31 00733900 2022-07-31 00733900 2021-08-01 00733900 c:Director1 2022-08-01 2023-07-31 00733900 d:FurnitureFittings 2022-08-01 2023-07-31 00733900 d:FurnitureFittings 2023-07-31 00733900 d:FurnitureFittings 2022-07-31 00733900 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 00733900 d:FreeholdInvestmentProperty 2023-07-31 00733900 d:FreeholdInvestmentProperty 2022-07-31 00733900 d:FreeholdInvestmentProperty 2 2022-08-01 2023-07-31 00733900 d:CurrentFinancialInstruments 2023-07-31 00733900 d:CurrentFinancialInstruments 2022-07-31 00733900 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 00733900 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 00733900 d:ShareCapital 2023-07-31 00733900 d:ShareCapital 2022-07-31 00733900 d:InvestmentPropertiesRevaluationReserve 2022-08-01 2023-07-31 00733900 d:InvestmentPropertiesRevaluationReserve 2023-07-31 00733900 d:InvestmentPropertiesRevaluationReserve 2022-07-31 00733900 d:RetainedEarningsAccumulatedLosses 2023-07-31 00733900 d:RetainedEarningsAccumulatedLosses 2022-07-31 00733900 c:OrdinaryShareClass1 2022-08-01 2023-07-31 00733900 c:OrdinaryShareClass1 2023-07-31 00733900 c:OrdinaryShareClass1 2022-07-31 00733900 c:OrdinaryShareClass2 2022-08-01 2023-07-31 00733900 c:OrdinaryShareClass2 2023-07-31 00733900 c:OrdinaryShareClass2 2022-07-31 00733900 c:FRS102 2022-08-01 2023-07-31 00733900 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 00733900 c:FullAccounts 2022-08-01 2023-07-31 00733900 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 00733900 2 2022-08-01 2023-07-31 00733900 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 00733900 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 00733900 d:TaxLossesCarry-forwardsDeferredTax 2023-07-31 00733900 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 00733900 d:OtherDeferredTax 2023-07-31 00733900 d:OtherDeferredTax 2022-07-31 00733900 f:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 00733900










PETMON PROPERTIES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
PETMON PROPERTIES LIMITED
REGISTERED NUMBER: 00733900

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
76
90

Investment property
 5 
1,195,114
1,170,114

  
1,195,190
1,170,204

Current assets
  

Debtors: amounts falling due within one year
 6 
28,338
24,132

Cash at bank and in hand
 7 
436,528
495,221

  
464,866
519,353

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(21,636)
(91,184)

Net current assets
  
 
 
443,230
 
 
428,169

Total assets less current liabilities
  
1,638,420
1,598,373

Provisions for liabilities
  

Deferred tax
 9 
(108,781)
(101,630)

Net assets
  
1,529,639
1,496,743


Capital and reserves
  

Called up share capital 
 10 
200
200

Investment property reserve
 11 
484,385
465,635

Profit and loss account
 11 
1,045,054
1,030,908

  
1,529,639
1,496,743


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
PETMON PROPERTIES LIMITED
REGISTERED NUMBER: 00733900

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs J M Carroll
Director

Date: 15 January 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Petmon Properties Limited is a private company, limited by share capital and incorporated in England and Wales. 
The companies registered office address is 2 Communications Road, Greenham Business Park, Greenham, Newbury, Berkshire RG19 6AB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 
Revenue comprises rental income from operating leases which is credited to the Statement of Comprehensive Income evenly over the lease period.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
15%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Investment property

Investment property is carried at fair value determined annually by external valuers or the director and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value net of deferred tax are recognised in the Statement of Comprehensive Income.

Page 3

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on 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.

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.8

Creditors

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

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 4

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Furniture

£



Cost or valuation


At 1 August 2022
4,259



At 31 July 2023

4,259



Depreciation


At 1 August 2022
4,169


Charge for the year on owned assets
14



At 31 July 2023

4,183



Net book value



At 31 July 2023
76



At 31 July 2022
90


5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2022
1,170,114


Surplus on revaluation
25,000



At 31 July 2023
1,195,114

The 2023 valuations were made by the director, on an open market value for existing use basis.



Page 6

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£

Other debtors
25,619
22,000

Prepayments and accrued income
2,719
2,132

28,338
24,132



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
436,528
495,221



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
8,529
77,458

Other creditors
4,741
3,641

Accruals and deferred income
8,366
10,085

21,636
91,184



9.


Deferred taxation




2023
2022


£

£



At beginning of year
(101,630)
(174,035)


Charged to profit or loss
(7,151)
72,405



At end of year
(108,781)
(101,630)

Page 7

 
PETMON PROPERTIES LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(19)
(23)

Capital gains
(107,857)
(101,607)

Short term timing differences
(905)
-

(108,781)
(101,630)


10.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



100 (2022 - 100) 'A' Ordinary shares of £1 each
100
100
100 (2022 - 100) 'B' Ordinary shares of £1 each
100
100

200

200



11.


Reserves

Investment property revaluation reserve

This reserve records accumulated profits and losses (net of deferred tax) on revaluation of investment property.


Page 8