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REGISTERED NUMBER: 10592649 (England and Wales)














PKS Developments Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023






PKS Developments Limited (Registered number: 10592649)

Contents of the Financial Statements
for the Year Ended 30 September 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


PKS Developments Limited

Company Information
for the Year Ended 30 September 2023







Directors: K Boyce
Mrs P Boyce





Registered office: 12 Campbells Business Park
Campbells Meadow
Kings Lynn
Norfolk
PE30 4YR





Registered number: 10592649 (England and Wales)





Accountants: Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
PKS Developments Limited


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 Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report 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 PKS Developments Limited for the year ended 30 September 2023 which comprise the Statement of income and retained earnings, Statement of financial position 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 PKS Developments Limited, 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 PKS Developments Limited and state those matters that we have agreed to state to the Board of Directors of PKS Developments Limited, 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 PKS Developments Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that PKS Developments Limited 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 PKS Developments Limited. You consider that PKS Developments Limited 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 PKS Developments Limited. 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.






Moore Thompson
Monica House
St Augustines Road
Wisbech
Cambridgeshire
PE13 3AD


14 February 2024

PKS Developments Limited (Registered number: 10592649)

Statement of Financial Position
30 September 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 712 -
Investments 6 200 200
Investment property 7 610,000 610,000
610,912 610,200

Current assets
Cash at bank 32,319 34,552

Creditors
Amounts falling due within one year 8 81,491 76,867
Net current liabilities (49,172 ) (42,315 )
Total assets less current liabilities 561,740 567,885

Creditors
Amounts falling due after more than one
year

9

(117,873

)

(130,285

)

Provisions for liabilities (60,358 ) (60,834 )
Net assets 383,509 376,766

Capital and reserves
Called up share capital 400 400
Revaluation reserve 11 256,742 256,742
Retained earnings 11 126,367 119,624
Shareholders' funds 383,509 376,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

PKS Developments Limited (Registered number: 10592649)

Statement of Financial Position - continued
30 September 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 February 2024 and were signed on its behalf by:




K Boyce - Director



Mrs P Boyce - Director


PKS Developments Limited (Registered number: 10592649)

Notes to the Financial Statements
for the Year Ended 30 September 2023


1. Statutory information

PKS Developments Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

PKS Developments Limited (Registered number: 10592649)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


3. Accounting policies - continued

Going concern
The financial statements have been prepared on the going concern basis, however this may not be appropriate as at the balance sheet date, current liabilities exceeded current assets by £48,911.

The directors and related companies have confirmed they will continue to support the business for the foreseeable future.

4. Employees and directors

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

5. Tangible fixed assets
Plant and
machinery
etc
£   
Cost
Additions 950
At 30 September 2023 950
Depreciation
Charge for year 238
At 30 September 2023 238
Net book value
At 30 September 2023 712

6. Fixed asset investments
Shares in
group
undertakings
£   
Cost
At 1 October 2022
and 30 September 2023 200
Net book value
At 30 September 2023 200
At 30 September 2022 200

PKS Developments Limited (Registered number: 10592649)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


7. Investment property
Total
£   
Fair value
At 1 October 2022
and 30 September 2023 610,000
Net book value
At 30 September 2023 610,000
At 30 September 2022 610,000

The investment property is shown at cost.

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 610,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 293,035 293,035

Investment property was valued on an open market basis on 29 December 2022 by a qualified valuer .

8. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 13,087 10,060
Amounts owed to group undertakings 56,982 54,982
Corporation tax 6,317 7,162
VAT 2,747 2,800
Directors' loan accounts 978 638
Accrued expenses 1,380 1,225
81,491 76,867

9. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 2-5 years 42,940 42,240
Bank loans more 5 yr by instal 74,933 88,045
117,873 130,285

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 74,933 88,045

PKS Developments Limited (Registered number: 10592649)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023


10. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 130,960 140,345

The bank loan of £130,960 (2022: - £140,345) is secured by a fixed and floating charge over all assets of the company.

11. Reserves
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2022 119,624 256,742 376,366
Profit for the year 76,743 76,743
Dividends (70,000 ) (70,000 )
At 30 September 2023 126,367 256,742 383,109

12. Related party disclosures

At the balance sheet date the company owed the Directors £978 (2022: £638) in respect of their joint loan account. There are no formal repayment terms and no interest is being charged.