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REGISTERED NUMBER: SC517167 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

PMR PROPERTY LTD

PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PMR PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: D J C McCowan
C R M Roome
S F Piatkowski
J D Brown





REGISTERED OFFICE: 6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
G1 3NQ





REGISTERED NUMBER: SC517167 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,652,136 1,492,908

CURRENT ASSETS
Debtors 5 3,120 12,865
Cash at bank 309 -
3,429 12,865
CREDITORS
Amounts falling due within one year 6 1,219,387 949,986
NET CURRENT LIABILITIES (1,215,958 ) (937,121 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

436,178

555,787

CREDITORS
Amounts falling due after more than one
year

7

940,245

1,048,469
NET LIABILITIES (504,067 ) (492,682 )

CAPITAL AND RESERVES
Called up share capital 136 136
Retained earnings (504,203 ) (492,818 )
SHAREHOLDERS' FUNDS (504,067 ) (492,682 )

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

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

PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)

BALANCE SHEET - continued
31 MARCH 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 29 March 2024 and were signed on its behalf by:





D J C McCowan - Director


PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)

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

1. STATUTORY INFORMATION

PMR Property Ltd is a private company, limited by shares , registered in Scotland. 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The company's liabilities exceeded its assets by £504,067 at 31 March 2023 (2022: £492,682). The company is thus dependent on the continued financial support of its creditors. The directors are confident of this continuing support and of the company's long term trading prospects and on this basis considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of financial support.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on a straight line basis
Plant and machinery etc - 33% on a straight line basis and 20% on a reducing balance basis

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 4 (2022 - 4 ) .

PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 1,542,174 72,823 1,614,997
Additions 223,813 - 223,813
At 31 March 2023 1,765,987 72,823 1,838,810
DEPRECIATION
At 1 April 2022 92,617 55,206 147,823
Charge for year 35,328 3,523 38,851
At 31 March 2023 127,945 58,729 186,674
NET BOOK VALUE
At 31 March 2023 1,638,042 14,094 1,652,136
At 31 March 2022 1,449,557 17,617 1,467,174

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,120 12,865

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 53,028 59,658
Taxation and social security 9,341 -
Other creditors 1,157,018 890,328
1,219,387 949,986

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 940,245 1,048,469

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 428,133 536,356

PMR PROPERTY LTD (REGISTERED NUMBER: SC517167)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 993,273 1,101,497

The bank loan is secured by a bond and floating charge and a personal guarantee by all of the Directors.

9. RELATED PARTY DISCLOSURES

At 31 March 2023, the company owed £241,680 (2022: £140,451) to companies under common directorship.