Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mrs L A Price 11/11/2020 Mr R J Price 11/11/2020 11 March 2024 The principal activity of the Company during the year was that of property rental. 13009359 2023-03-31 13009359 bus:Director1 2023-03-31 13009359 bus:Director2 2023-03-31 13009359 2022-03-31 13009359 core:CurrentFinancialInstruments 2023-03-31 13009359 core:CurrentFinancialInstruments 2022-03-31 13009359 core:Non-currentFinancialInstruments 2023-03-31 13009359 core:Non-currentFinancialInstruments 2022-03-31 13009359 core:ShareCapital 2023-03-31 13009359 core:ShareCapital 2022-03-31 13009359 core:RetainedEarningsAccumulatedLosses 2023-03-31 13009359 core:RetainedEarningsAccumulatedLosses 2022-03-31 13009359 core:FurnitureFittings 2022-03-31 13009359 core:FurnitureFittings 2023-03-31 13009359 bus:OrdinaryShareClass1 2023-03-31 13009359 2022-04-01 2023-03-31 13009359 bus:FullAccounts 2022-04-01 2023-03-31 13009359 bus:SmallEntities 2022-04-01 2023-03-31 13009359 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13009359 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13009359 bus:Director1 2022-04-01 2023-03-31 13009359 bus:Director2 2022-04-01 2023-03-31 13009359 core:FurnitureFittings 2022-04-01 2023-03-31 13009359 2021-04-01 2022-03-31 13009359 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 13009359 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 13009359 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13009359 (England and Wales)

PRICE PROPERTIES INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

PRICE PROPERTIES INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

PRICE PROPERTIES INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
PRICE PROPERTIES INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 4,972 0
Investment property 4 1,402,103 1,400,000
1,407,075 1,400,000
Current assets
Debtors 5 46,723 33,161
Cash at bank and in hand 617 3,040
47,340 36,201
Creditors: amounts falling due within one year 6 ( 950,257) ( 934,731)
Net current liabilities (902,917) (898,530)
Total assets less current liabilities 504,158 501,470
Creditors: amounts falling due after more than one year 7 ( 509,993) ( 509,993)
Net liabilities ( 5,835) ( 8,523)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 5,935 ) ( 8,623 )
Total shareholder's deficit ( 5,835) ( 8,523)

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.

Directors' responsibilities:

The financial statements of Price Properties Investments Limited (registered number: 13009359) were approved and authorised for issue by the Board of Directors on 11 March 2024. They were signed on its behalf by:

Mrs L A Price
Director
PRICE PROPERTIES INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
PRICE PROPERTIES INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Price Properties Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, Chy Nyverow, Newham Road, Truro, TR1 2DP, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £5,835. The Company is supported through loans from the Parent Company. The directors have received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so 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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset.

Fixtures and fittings 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 April 2022 0 0
Additions 5,431 5,431
At 31 March 2023 5,431 5,431
Accumulated depreciation
At 01 April 2022 0 0
Charge for the financial year 459 459
At 31 March 2023 459 459
Net book value
At 31 March 2023 4,972 4,972
At 31 March 2022 0 0

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,400,000
Additions 2,103
As at 31 March 2023 1,402,103

Valuation

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

5. Debtors

2023 2022
£ £
Amounts owed by directors 39,020 26,591
Deferred tax asset 7,703 6,570
46,723 33,161

6. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to Group undertakings 944,194 933,231
Accruals and deferred income 6,063 1,500
950,257 934,731

7. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 509,993 509,993

The bank loans are secured over the investment property in the company.

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
Amounts owed by directors 39,020 26,591