REGISTERED NUMBER: |
PLYMOUTH PROPERTY HOLDINGS LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JULY 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Tangible assets | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 |
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 |
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 |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
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 |
5. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 31 July 2022 |
Additions |
Disposals | ( |
) |
Impairments | (57,110 | ) |
At 30 July 2023 |
NET BOOK VALUE |
At 30 July 2023 |
At 30 July 2022 |
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 |
DEPRECIATION |
At 31 July 2022 |
Charge for year |
At 30 July 2023 |
NET BOOK VALUE |
At 30 July 2023 |
At 30 July 2022 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 31 July 2022 |
and 30 July 2023 |
NET BOOK VALUE |
At 30 July 2023 |
At 30 July 2022 |
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 |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
The amount due from the directors at the year-end was cleared by 22 April 2024. |