1 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03990946 2023-01-01 2023-12-31 03990946 2023-12-31 03990946 2022-12-31 03990946 2022-01-01 2022-12-31 03990946 2022-12-31 03990946 core:FurnitureFittings 2023-01-01 2023-12-31 03990946 bus:Director4 2023-01-01 2023-12-31 03990946 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 03990946 core:LandBuildings core:LongLeaseholdAssets 2023-12-31 03990946 core:FurnitureFittings 2023-12-31 03990946 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03990946 core:LandBuildings core:LongLeaseholdAssets 2023-01-01 2023-12-31 03990946 core:AfterOneYear 2023-12-31 03990946 core:AfterOneYear 2022-12-31 03990946 core:WithinOneYear 2023-12-31 03990946 core:WithinOneYear 2022-12-31 03990946 core:ShareCapital 2023-12-31 03990946 core:ShareCapital 2022-12-31 03990946 core:RevaluationReserve 2023-12-31 03990946 core:RevaluationReserve 2022-12-31 03990946 core:RetainedEarningsAccumulatedLosses 2023-12-31 03990946 core:RetainedEarningsAccumulatedLosses 2022-12-31 03990946 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03990946 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03990946 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 03990946 core:LandBuildings core:LongLeaseholdAssets 2022-12-31 03990946 core:FurnitureFittings 2022-12-31 03990946 bus:SmallEntities 2023-01-01 2023-12-31 03990946 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03990946 bus:FullAccounts 2023-01-01 2023-12-31 03990946 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 03990946 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03990946 core:InvestmentPropertyIncludedWithinPPE 2023-01-01 2023-12-31 03990946 core:AfterOneYear 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 03990946
Pampisford Properties Limited
Filleted Unaudited Financial Statements
For the year ended
31 December 2023
Pampisford Properties Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
12,150,582
12,190,092
Current assets
Debtors: due within one year
6
166,031
36,897
Debtors: due after more than one year
6
3,579
Cash at bank and in hand
702,740
1,018,643
---------
------------
868,771
1,059,119
Creditors: amounts falling due within one year
7
107,223
1,435,281
---------
------------
Net current assets/(liabilities)
761,548
( 376,162)
-------------
-------------
Total assets less current liabilities
12,912,130
11,813,930
Creditors: amounts falling due after more than one year
8
8,075,053
6,546,912
Provisions
Taxation including deferred tax
219,083
286,129
-------------
-------------
Net assets
4,617,994
4,980,889
-------------
-------------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
3,479,298
3,871,761
Profit and loss account
1,138,596
1,109,028
------------
------------
Shareholders funds
4,617,994
4,980,889
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Pampisford Properties Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 18 July 2024 , and are signed on behalf of the board by:
Mr K R Satchell
Director
Company registration number: 03990946
Pampisford Properties Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 117 Station Road, Impington, Cambridge, CB24 9NP.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit and loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents rents received and receivable for the period.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets, other than investment properties, are initially recorded at cost. Investment properties Investment properties are initially recorded at cost and subsequently recorded at their open market value. The surplus or deficit arising from the revaluations is recognised in the Statement of Comprehensive Income and separately transferred to a revaluation reserve.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings
-
20% straight line
Investment properties are not depreciated.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Freehold investment property
Long leasehold investment property
Fixtures and fittings
Total
£
£
£
£
Cost or valuation
At 1 January 2023
11,000,682
1,189,410
40,130
12,230,222
Additions
419,999
419,999
Revaluations
( 414,312)
( 45,197)
( 459,509)
-------------
------------
--------
-------------
At 31 December 2023
11,006,369
1,144,213
40,130
12,190,712
-------------
------------
--------
-------------
Depreciation
At 1 January 2023 and 31 December 2023
40,130
40,130
-------------
------------
--------
-------------
Carrying amount
At 31 December 2023
11,006,369
1,144,213
12,150,582
-------------
------------
--------
-------------
At 31 December 2022
11,000,682
1,189,410
12,190,092
-------------
------------
--------
-------------
The historical costs of freehold and long leasehold investment properties are £8,452,200 (2022: £8,032,201). During the year ended 31 December 2022 the company's freehold and long leasehold properties were revalued by a firm of chartered surveyors for lending purposes. The directors have reflected the uplift in these valuations to 31 December 2023 based on the movement in the UK House Price Index, published by HM Land Registry, for the East of England between the date of valuation and 31 December 2023. This index is based upon transactions as recorded at Land Registry and is thus considered to give a reasonable approximation to current values. The directors do not hold any formal qualifications as valuers. Included in freehold investment property above are properties with a value of £2,102,615 (2022: £2,185,670) which are owned by a partnership which is fully controlled by the company, reflecting the substance of the transaction rather than legal form.
6. Debtors
Debtors falling due within one year are as follows:
2023
2022
£
£
Trade debtors
19,539
16,338
Other debtors
146,492
20,559
---------
--------
166,031
36,897
---------
--------
Debtors falling due after one year are as follows:
2023
2022
£
£
Other debtors
3,579
----
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,450
16,501
Social security and other taxes
10,968
63,054
Other creditors
92,805
1,355,726
---------
------------
107,223
1,435,281
---------
------------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
3,576,500
3,576,500
Other creditors
4,498,553
2,970,412
------------
------------
8,075,053
6,546,912
------------
------------
In respect of bank loans stated above the company has given security in the form of a fixed and floating charge over the assets of the company.
9. Related party transactions
During the year the company continued to operate a loan account with the directors. As at the balance sheet date the company owed the directors £3,215,213 (2022: £2,970,412) which is due for repayment in more than one year from the balance sheet date. Loans from the directors' family members remained outstanding during the year. There were no significant movements in these loan balances during the current or previous year and as at the balance sheet date the company owed the directors' family members £26,361 (2022: £25,106) which is due for repayment within one year from the balance sheet date. No repayments were made in the current or previous year. Interest of £1,255 (2022: £1,196) has been charged on these balances. During the year the company received a loan of £nil (2022: £900,000) from Waterbeach Instruments Limited and made repayments of £5,000 (2022: £15,000). As at the balance sheet date Waterbeach Instruments Limited is owed £895,500 (2022: £900,500). This company is considered a related party as three of the directors are also directors of Waterbeach Instruments Limited. A loan balance from Satchell Properties Limited of £403,340 (2022: £403,340) remains outstanding as at the balance sheet date. This company is considered a related party as the directors are also directors of Satchell Properties Limited. No interest has been charged on the loan and no amounts written off. During the year the company made a loan of £140,000 to IM Med Limited and received repayments of £nil. As at the balance sheet date, the company is owed £140,000. This company is considered a related party as one of the directors is also a director of IM Med Limited.