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REGISTERED NUMBER: 10267029 (England and Wales)









PLYMOUTH PROPERTY HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JULY 2023






PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


PLYMOUTH PROPERTY HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JULY 2023







DIRECTORS: S L Lovegrove
J Lovegrove





REGISTERED OFFICE: Mark Holt & Co Ltd
7 Sandy Court
Ashleigh Way
Plymouth
Devon
PL7 5JX





REGISTERED NUMBER: 10267029 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

ABRIDGED BALANCE SHEET
30 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 82,489 139,599
Tangible assets 6 6,746 8,432
Investment property 7 545,000 545,000
634,235 693,031

CURRENT ASSETS
Debtors 537,337 1,138,201
Cash at bank 39,206 1,062
576,543 1,139,263
CREDITORS
Amounts falling due within one year 15,467 22,499
NET CURRENT ASSETS 561,076 1,116,764
TOTAL ASSETS LESS CURRENT LIABILITIES 1,195,311 1,809,795

CREDITORS
Amounts falling due after more than one year 8 381,891 716,804
NET ASSETS 813,420 1,092,991

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 813,320 1,092,891
813,420 1,092,991

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

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

PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

ABRIDGED BALANCE SHEET - continued
30 JULY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 April 2024 and were signed on its behalf by:





S L Lovegrove - Director


PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JULY 2023

1. STATUTORY INFORMATION

Plymouth Property Holdings 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 principal accounting policies applied in the preparation of these financial statements are set out below.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and the rendering of services.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.
Fixtures and fittings - 20% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Intangible fixed assets
Intangible fixed assets relates to a portfolio of cyrptocurrency and are held using the fair value model.

The portfolio is revalued at each reporting date using the coin values available from active cryptocurrency guide Koinly, an independent source of the market values at a given date. Gains or losses generated from the portfolio are realised in profit & loss reserves via other comprehensive income.

There is no amortisation to charge annually on these assets.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2023

3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

4. EMPLOYEES AND DIRECTORS

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

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 31 July 2022 139,599
Additions 90,543
Disposals (90,543 )
Impairments (57,110 )
At 30 July 2023 82,489
NET BOOK VALUE

At 30 July 2023 82,489
At 30 July 2022 139,599

Cost or valuation at 30 July 2023 is represented by:

Totals
£   
Valuation in 2021 438,134
Valuation in 2022 (499,526 )
Valuation in 2023 (57,110 )
Cost 200,991
82,489

PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2023

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 31 July 2022
and 30 July 2023 32,000
DEPRECIATION
At 31 July 2022 23,568
Charge for year 1,686
At 30 July 2023 25,254
NET BOOK VALUE
At 30 July 2023 6,746
At 30 July 2022 8,432

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 31 July 2022
and 30 July 2023 545,000
NET BOOK VALUE
At 30 July 2023 545,000
At 30 July 2022 545,000

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS
2023 2022
£    £   
Repayable by instalments
Bank loans more 5 yr by instal 46,469 49,120

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 381,891 716,804

The bank loans relate to mortgages on investment properties and, therefore, the loans are secured over the property to which they relate. The bank overdraft is also secured over these properties as it is held with the same bank.

PLYMOUTH PROPERTY HOLDINGS LIMITED (REGISTERED NUMBER: 10267029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JULY 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 July 2023 and the period ended 30 July 2022:

2023 2022
£    £   
S L Lovegrove and J Lovegrove
Balance outstanding at start of year 224,450 31,653
Amounts advanced 127,969 612,737
Amounts repaid (258,076 ) (419,940 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 94,343 224,450

The amount due from the directors at the year-end was cleared by 22 April 2024.