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REGISTERED NUMBER: 05216499 (England and Wales)















PGA PROPERTIES LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2023






PGA PROPERTIES LIMITED (REGISTERED NUMBER: 05216499)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


PGA PROPERTIES LIMITED

Company Information
for the year ended 31 July 2023







Director: Mr P Anderson



Registered office: Compton Park Farm
Beacon Lane
Kinver
Staffordshire
DY7 5NF



Registered number: 05216499 (England and Wales)



Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
Office 401, 4th Floor
Birmingham
West Midlands
B3 3AX



Bankers: Barclays Bank plc
81 High Street
Stourbridge
DY8 1EB

PGA PROPERTIES LIMITED (REGISTERED NUMBER: 05216499)

Statement of Financial Position
31 July 2023

2023 2022
Notes £ £ £ £
Fixed assets
Investment property 4 3,335,000 424,542

Current assets
Debtors 5 88,958 82,350
Cash at bank 344,002 317,229
432,960 399,579
Creditors
Amounts falling due within one year 6 2,018,410 14,979
Net current (liabilities)/assets (1,585,450 ) 384,600
Total assets less current liabilities 1,749,550 809,142

Provisions for liabilities 90,456 62,330
Net assets 1,659,094 746,812

Capital and reserves
Called up share capital 750 1,961
Share premium - 119,889
Fair value reserve 7 1,301,938 284,642
Retained earnings 356,406 340,320
Shareholders' funds 1,659,094 746,812

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 24 April 2024 and were signed by:





Mr P Anderson - Director


PGA PROPERTIES LIMITED (REGISTERED NUMBER: 05216499)

Notes to the Financial Statements
for the year ended 31 July 2023

1. Statutory information

PGA Properties 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.

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 as modified by the revaluation of certain assets.

Going concern
The company's directors believe that the financial statements of the company should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements. They believe that no further disclosures relating to the ability of the company to continue as going concerns need to be made in the financial statements.

Turnover
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property-2% Straight Line

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 statement of financial position date.

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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

PGA PROPERTIES LIMITED (REGISTERED NUMBER: 05216499)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

2. Accounting policies - continued

Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable 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.

3. Employees and directors

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

4. Investment property
Total
£
Fair value
At 1 August 2022 424,542
Additions 1,893,162
Revaluations 1,017,296
At 31 July 2023 3,335,000
Net book value
At 31 July 2023 3,335,000
At 31 July 2022 424,542

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

Cost 1,987,460
Accumulated depreciation (43,530 )

During the year property was acquired from Central Steel Pickling Limited and Anderson estates.

Investment property was revalued on an open market basis on 30 March 2022 by Harris Lamb Limited and the valuations have been adopted for all properties as at 31 July 2023. The director considers the above figures reflect the fair value of the properties as at July 2023.

5. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 88,958 82,350

6. Creditors: amounts falling due within one year
2023 2022
£ £
Amounts owed to group undertakings 1,264,270 -
Taxation and social security 18,140 14,979
Other creditors 736,000 -
2,018,410 14,979

7. Reserves
Fair value
reserve
£
At 1 August 2022 284,642
Revaluation 1,017,296

At 31 July 2023 1,301,938

PGA PROPERTIES LIMITED (REGISTERED NUMBER: 05216499)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

8. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Mr P G Anderson operates a loan account with the company. At the end of the year the balance on the loan account was £723,400 (2022: £1,600 due to the company) due from the company and is included within other creditors.

9. Ultimate controlling party

During the year C S P Holdings Limited, a company also incorporated and registered in England and Wales became the immediate and ultimate parent company. Previously the company was under the control of Mr P G Anderson.