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REGISTERED NUMBER: 09471332 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Peill Properties Ltd

Peill Properties Ltd (Registered number: 09471332)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Peill Properties Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTORS: Mr R A Peill
Mr A R Peill





REGISTERED OFFICE: 2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR





REGISTERED NUMBER: 09471332 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Peill Properties Ltd (Registered number: 09471332)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,212 2,648
Investment property 5 6,661,883 5,535,000
6,664,095 5,537,648

CURRENT ASSETS
Cash at bank 1,232 8,096

CREDITORS
Amounts falling due within one year 6 (12,764 ) (2,769 )
NET CURRENT (LIABILITIES)/ASSETS (11,532 ) 5,327
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,652,563

5,542,975

CREDITORS
Amounts falling due after more than one
year

7

(5,730,447

)

(4,918,026

)

PROVISIONS FOR LIABILITIES (164,789 ) (115,962 )
NET ASSETS 757,327 508,987

CAPITAL AND RESERVES
Called up share capital 300 300
Revaluation reserve 9 865,098 607,679
Retained earnings (108,071 ) (98,992 )
SHAREHOLDERS' FUNDS 757,327 508,987

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

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

Peill Properties Ltd (Registered number: 09471332)

Balance Sheet - continued
31 August 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 12 February 2024 and were signed on its behalf by:





Mr R A Peill - Director


Peill Properties Ltd (Registered number: 09471332)

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

1. STATUTORY INFORMATION

Peill 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
At 31st August 2023 the company had net current liabilities of £11,532, and total net assets of £757,327. The company relies on the loan funding provided by its investors. The director is of the opinion that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of support by its investors.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance
Computer equipment - Straight line over 3 years

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.

Taxation
Taxation for the year comprises current and deferred tax. 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 or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Peill Properties Ltd (Registered number: 09471332)

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 September 2022 10,100 1,275 11,375
Additions - 140 140
At 31 August 2023 10,100 1,415 11,515
DEPRECIATION
At 1 September 2022 7,452 1,275 8,727
Charge for year 530 46 576
At 31 August 2023 7,982 1,321 9,303
NET BOOK VALUE
At 31 August 2023 2,118 94 2,212
At 31 August 2022 2,648 - 2,648

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2022 5,535,000
Additions 869,464
Revaluations 257,419
At 31 August 2023 6,661,883
NET BOOK VALUE
At 31 August 2023 6,661,883
At 31 August 2022 5,535,000

Fair value at 31 August 2023 is represented by:
£   
Valuation in 2020 40,000
Valuation in 2021 526,303
Valuation in 2022 41,376
Valuation in 2023 257,419
Cost 5,796,785
6,661,883

Investment property was valued on an open market basis on 31 August 2023 by the director, Mr R A Peill .

Peill Properties Ltd (Registered number: 09471332)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 30 59
Tax 12,722 2,710
Social security and other taxes 12 -
12,764 2,769

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans more 5 yr 4,356,401 3,849,149
Amounts owed to group undertakings 304,600 -
Directors' loan accounts 1,069,446 1,068,877
5,730,447 4,918,026

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr 4,356,401 3,849,149

8. FINANCIAL INSTRUMENTS

The company had mortgages outstanding at the year end of £4,356,701 (2022: £3,849,149). The loans are measured at the present value of future payments and are secured against the investments properties themselves.

9. RESERVES
Revaluation
reserve
£   
At 1 September 2022 607,679
Revaluation reserve 257,419

At 31 August 2023 865,098

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
Mr R A Peill
Balance outstanding at start of year 534,439 733,503
Amounts advanced 3,175 23,100
Amounts repaid (2,891 ) (222,164 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 534,723 534,439

Peill Properties Ltd (Registered number: 09471332)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr A R Peill
Balance outstanding at start of year 534,439 498,341
Amounts advanced 3,175 140,681
Amounts repaid (2,891 ) (104,583 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 534,723 534,439

11. RELATED PARTY DISCLOSURES

Waterside Investments (Kendal) Limited

A company in which Mr R A Peill and Mr A R Peill are directors


During the year the company borrowed £304,600 from Waterside Investments (Kendal) Limited.

2023 2022
£    £   
Amount due to related party at the balance sheet date 304,600 -

12. ULTIMATE CONTROLLING PARTY

The company is controlled jointly by the directors Mr A R Peill and Mr R A Peill, by virtue of their share capital.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Peill Properties Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Peill Properties Ltd for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Peill Properties Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Peill Properties Ltd and state those matters that we have agreed to state to the Board of Directors of Peill Properties Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Peill Properties Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Peill Properties Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Peill Properties Ltd. You consider that Peill Properties Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Peill Properties Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................