Pentagon Apts Limited 09763040 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of a property developer. Digita Accounts Production Advanced 6.30.9574.0 true true 09763040 2022-04-01 2023-03-31 09763040 2023-03-31 09763040 bus:OrdinaryShareClass1 2023-03-31 09763040 core:CurrentFinancialInstruments 2023-03-31 09763040 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09763040 bus:SmallEntities 2022-04-01 2023-03-31 09763040 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09763040 bus:FullAccounts 2022-04-01 2023-03-31 09763040 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 09763040 bus:RegisteredOffice 2022-04-01 2023-03-31 09763040 bus:Director1 2022-04-01 2023-03-31 09763040 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09763040 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09763040 countries:England 2022-04-01 2023-03-31 09763040 2021-04-01 2022-03-31 09763040 2022-03-31 09763040 bus:OrdinaryShareClass1 2022-03-31 09763040 core:CurrentFinancialInstruments 2022-03-31 09763040 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09763040

Pentagon Apts Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Pentagon Apts Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Pentagon Apts Limited

(Registration number: 09763040)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

619,729

594,499

Cash at bank and in hand

 

100

100

 

619,829

594,599

Creditors: Amounts falling due within one year

5

(1,729,414)

(1,704,293)

Net liabilities

 

(1,109,585)

(1,109,694)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(1,109,685)

(1,109,794)

Shareholders' deficit

 

(1,109,585)

(1,109,694)

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 February 2024
 

.........................................
Mr George Philippou
Director

 

Pentagon Apts 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.

The address of its registered office is:
Newby House
309 Chase Road
Southgate
London
N14 6JS

These financial statements were authorised for issue by the director on 22 February 2024.

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).

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.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis, the validity of which is based upon the continued support of the company's creditors.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Pentagon Apts Limited

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

Trade debtors

Debtors with no stated interest rate and receivable 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition.

Trade creditors

Creditors with no stated interest rate and payables 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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 1 (2022 - 1).

4

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

-

66,394

Other debtors

 

619,729

528,105

 

619,729

594,499

 

Pentagon Apts Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

3,000

3,000

Trade creditors

 

31,674

76,310

Amounts owed to group undertakings and undertakings in which the company has a participating interest

1,126,697

1,119,335

Taxation and social security

 

62,395

-

Accruals and deferred income

 

2,000

2,000

Other creditors

 

503,648

503,648

 

1,729,414

1,704,293

 

Pentagon Apts Limited

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

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

3,000

3,000