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REGISTERED NUMBER: 09862522 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 October 2023

for

PLYMOUTH HOUSE OFFICES LIMITED

PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PLYMOUTH HOUSE OFFICES LIMITED

Company Information
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P J Medlock
S J Medlock





REGISTERED OFFICE: Suite 4 St Georges Lodge
33 Oldfield Road
Bath
Somerset
BA2 3NE





REGISTERED NUMBER: 09862522 (England and Wales)





ACCOUNTANTS: Haines Watts
Chartered Accountants
6-8 Bath Street
Bristol
BS1 6HL

PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Balance Sheet
31 OCTOBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 10,871 15,245
Investments 5 1,156,960 1,156,960
Investment property 6 1,090,000 1,690,000
2,257,831 2,862,205

CURRENT ASSETS
Debtors 7 1,624,190 1,211,400
Cash at bank 60,714 14,525
1,684,904 1,225,925
CREDITORS
Amounts falling due within one year 8 (3,488,019 ) (3,622,906 )
NET CURRENT LIABILITIES (1,803,115 ) (2,396,981 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

454,716

465,224

PROVISIONS FOR LIABILITIES (2,184 ) (41,863 )
NET ASSETS 452,532 423,361

CAPITAL AND RESERVES
Called up share capital 9 200 200
Fair value reserve 6,551 125,589
Retained earnings 445,781 297,572
SHAREHOLDERS' FUNDS 452,532 423,361

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Balance Sheet - continued
31 OCTOBER 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 Profit and Loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





S J Medlock - Director


PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 OCTOBER 2023


1. COMPANY INFORMATION

Plymouth House Offices 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 principal activity of the company in the year under review was that of property development and provision of furnished holiday accommodation.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 25% reducing balance basis

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.

PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss account, 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 2 (2022 - 2 ) .

PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 November 2022
and 31 October 2023 36,477
DEPRECIATION
At 1 November 2022 21,232
Charge for year 4,374
At 31 October 2023 25,606
NET BOOK VALUE
At 31 October 2023 10,871
At 31 October 2022 15,245

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 1,156,960
NET BOOK VALUE
At 31 October 2023 1,156,960
At 31 October 2022 1,156,960

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 1,690,000
Disposals (600,000 )
At 31 October 2023 1,090,000
NET BOOK VALUE
At 31 October 2023 1,090,000
At 31 October 2022 1,690,000

The valuations of investment properties were made as at 31 October 2023 by the directors on an open market basis. No depreciation is provided in respect of these properties.

On an historical cost basis these would have been included at an original cost of 1,081,265.

PLYMOUTH HOUSE OFFICES LIMITED (REGISTERED NUMBER: 09862522)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,075 18,435
Amounts owed by group undertakings 1,606,988 1,189,049
Other debtors 2,532 2,532
Prepayments and accrued income 2,595 1,384
1,624,190 1,211,400

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 5,127 9,571
Amounts owed to related party 30,000 -
Tax 36,775 13,206
VAT 4,573 8,524
Directors' current accounts 3,411,544 3,591,605
3,488,019 3,622,906

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
200 Ordinary £1.00 200 200

10. CONTINGENT LIABILITIES

The company is party to an Omnibus Guarantee and Set-Off Agreement in favour of the company’s bankers in respect of the following related companies; Chatleigh Limited, Anglo Welsh Limited, BuildWales Homes Limited, Beeley Wood Properties Limited, DPRS Finance Limited, SG Aerospace (UK) Limited, Project Finance Limited, Hebron & Medlock Properties Limited, Panda Sanctuaries Limited, Panda Sanctuaries Holdings Limited and Tony Morris Homes Limited. As at 31 October 2023 the potential liability was £Nil (2022 : £Nil).

11. RELATED PARTY DISCLOSURES

Hebron & Medlock Properties Limited is a wholly owned subsidiary company. During the year the company advanced a loan of £435,170 to Hebron & Medlock Properties Limited. At the year end Hebron & Medlock Properties Limited owed the company £631,511 (2022: £196,341). The loan is interest free and has no set date of repayment.

Panda Sanctuaries Holdings Limited is a wholly owned subsidiary company. During the year Panda Sanctuaries Holdings Limited repaid £17,232 to the company. At the year end Panda Sanctuaries Holdings Limited owed £975,476 (2022: £992,708) to the company. The loan is interest free and has no set date of repayment.

Anglo Welsh Limited is a company under common control. During the year Anglo Welsh Limited advanced a loan of £30,000 to the company. At the year end the company owed £30,000 (2022: £Nil) to Anglo Welsh Limited. The loan is interest free and has no set date of repayment.