Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-3032021-07-01false3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10459753 2021-07-01 2022-06-30 10459753 2020-07-01 2021-06-30 10459753 2022-06-30 10459753 2021-06-30 10459753 2020-07-01 10459753 1 2021-07-01 2022-06-30 10459753 d:Director1 2021-07-01 2022-06-30 10459753 c:CurrentFinancialInstruments 2022-06-30 10459753 c:CurrentFinancialInstruments 2021-06-30 10459753 c:Non-currentFinancialInstruments 2022-06-30 10459753 c:Non-currentFinancialInstruments 2021-06-30 10459753 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 10459753 c:CurrentFinancialInstruments c:WithinOneYear 2021-06-30 10459753 c:Non-currentFinancialInstruments c:AfterOneYear 2022-06-30 10459753 c:Non-currentFinancialInstruments c:AfterOneYear 2021-06-30 10459753 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-06-30 10459753 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2021-06-30 10459753 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-06-30 10459753 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2021-06-30 10459753 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2022-06-30 10459753 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2021-06-30 10459753 c:ShareCapital 2021-07-01 2022-06-30 10459753 c:ShareCapital 2022-06-30 10459753 c:ShareCapital 2020-07-01 2021-06-30 10459753 c:ShareCapital 2021-06-30 10459753 c:ShareCapital 2020-07-01 10459753 c:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 10459753 c:RetainedEarningsAccumulatedLosses 2022-06-30 10459753 c:RetainedEarningsAccumulatedLosses 2020-07-01 2021-06-30 10459753 c:RetainedEarningsAccumulatedLosses 2021-06-30 10459753 c:RetainedEarningsAccumulatedLosses 2020-07-01 10459753 d:OrdinaryShareClass1 2021-07-01 2022-06-30 10459753 d:OrdinaryShareClass1 2022-06-30 10459753 d:OrdinaryShareClass1 2021-06-30 10459753 d:FRS102 2021-07-01 2022-06-30 10459753 d:AuditExempt-NoAccountantsReport 2021-07-01 2022-06-30 10459753 d:FullAccounts 2021-07-01 2022-06-30 10459753 d:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 10459753 6 2021-07-01 2022-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10459753









PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2022

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
REGISTERED NUMBER: 10459753

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2022

2022
2021
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Stocks
  
-
7,582,845

Debtors: amounts falling due within one year
 6 
5,230,230
223,044

Cash at bank and in hand
 7 
8,478
36,408

  
5,238,708
7,842,297

Creditors: amounts falling due within one year
 8 
(6,967,225)
(9,960,972)

Net current liabilities
  
 
 
(1,728,517)
 
 
(2,118,675)

Total assets less current liabilities
  
(1,728,417)
(2,118,575)

Creditors: amounts falling due after more than one year
 9 
(42,004)
(47,426)

  

Net liabilities
  
(1,770,421)
(2,166,001)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
 12 
(1,770,521)
(2,166,101)

  
(1,770,421)
(2,166,001)


Page 1

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
REGISTERED NUMBER: 10459753
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2022

The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 February 2024.




M A Amitai
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
100
(2,166,101)
(2,166,001)


Comprehensive income for the year

Profit for the year
-
395,580
395,580
Total comprehensive income for the year
-
395,580
395,580


Total transactions with owners
-
-
-


At 30 June 2022
100
(1,770,521)
(1,770,421)


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2021


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2020
100
(538,435)
(538,335)


Comprehensive income for the year

Loss for the year
-
(1,627,666)
(1,627,666)
Total comprehensive income for the year
-
(1,627,666)
(1,627,666)


Total transactions with owners
-
-
-


At 30 June 2021
100
(2,166,101)
(2,166,001)


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

1.


General information

Permitted Developments Investments No 3 Ltd is a private company limited by shares, incorporated in England and Wales. Its registered office is 30 Old Bailey, London, United Kingdom, EC4M 7AU. 
The principal activity of the Company is that of the letting and operating of owned or leased real estate.
These financial statements have been presented in Pounds Sterling (£) as this is the Company's functional currency, being the primary economic environment in which the company operates. The monetary amounts included in these financial statements are rounded to the nearest £.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is deemed to be a going concern and therefore the accounts have been prepared on the going concern basis. The Director and parent company will pay liabilities as they fall due and fulfil negative reserves through the continued support of cash injections. On the basis of the above, the shareholders consider the above, the Company to be a going concern for the foreseeable future.

Page 5

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.3

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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

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 reporting date in the countries where the Company operates and generates income.

Page 6

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 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 a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Page 7

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

2.Accounting policies (continued)


2.12
Financial instruments (continued)


For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2022
        2021
            No.
            No.







Directors
3
3


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 July 2021
100



At 30 June 2022
100





5.


Stocks

2022
2021
£
£

Work in progress (goods to be sold)
-
7,582,845

-
7,582,845


Page 8

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

6.


Debtors

2022
2021
£
£


Trade debtors
1,680
134,159

Amounts owed by group undertakings
5,226,790
11,000

Other debtors
1,760
71,475

Prepayments and accrued income
-
6,410

5,230,230
223,044



7.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
8,478
36,408

8,478
36,408



8.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
5,432
2,674

Other loans
1,500,000
1,605,176

Trade creditors
22,207
111,872

Amounts owed to group undertakings
1,548,928
3,023,134

Corporation tax
138,264
-

Other creditors
2,899,282
3,694,218

Accruals and deferred income
853,112
1,523,898

6,967,225
9,960,972


The bank are guaranteed by the UK Government under BBLS.

Page 9

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

9.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
42,004
47,326

Corporation tax
-
100

42,004
47,426


For security details refer to note 7.


10.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
5,432
2,674

Other loans
1,500,000
1,605,176


1,505,432
1,607,850

Amounts falling due 1-2 years

Bank loans
5,570
5,432


5,570
5,432

Amounts falling due 2-5 years

Bank loans
17,568
17,135


17,568
17,135

Amounts falling due after more than 5 years

Bank loans
18,866
24,759

18,866
24,759

1,547,436
1,655,176


Page 10

 
PERMITTED DEVELOPMENTS INVESTMENTS NO 3 LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2022

11.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



12.


Reserves

Profit and loss account

The profit & loss account represents cumulative profits and losses of the Company.


13.


Contingent liabilities

The company has given a guarantee to the bank of its subsidiary, in relation to the entity's £13,230,000 loan.


14.


Related party transactions

At the year end  the company was owed £5,215,790 by BYM Lettings No 3 Limited it's subsidiary company. The amount is interest free and repayable on demand.
At the year end the company was owed £11,000 by Permitted Development Investments No 14 Limited a fellow subsidiary. The amount is interest fee and repayable on demand.
At the year end the company owed £2,899,182 to BYM Capital Limited a company connected by common ownership. The amount is interest free and repayable on demand.
At the year end the company owed £1,548,928 to BYM Holdings Limited its parent company. The amount is interest free and repayable on demand.


15.


Post balance sheet events

After the year end the company still holds a residual interest in the car park although there is no value held in the statement of financial position.


16.


Controlling party

The ultimate controlling party is BYM Holdings Limited. Company registered in England & Wales.

 
Page 11