Registered number
05594886
Pretco Limited
Filleted Accounts
31 October 2023
Pretco Limited
Registered number: 05594886
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,101,893 1,101,893
Current assets
Debtors 4 1,198 1,198
Cash at bank and in hand 4,354 5,832
5,552 7,030
Creditors: amounts falling due within one year 5 (14,042) (24,883)
Net current liabilities (8,490) (17,853)
Total assets less current liabilities 1,093,403 1,084,040
Creditors: amounts falling due after more than one year 6 (1,029,092) (1,020,561)
Net assets 64,311 63,479
Capital and reserves
Called up share capital 2 2
Profit and loss account 64,309 63,477
Shareholder's funds 64,311 63,479
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Pang
Director
Approved by the board on 30 July 2024
Pretco Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the value of rent and services charged to tenants
Investments
Investments in properties are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible investment properties
Land and buildings
£
Cost
At 1 November 2022 1,101,893
At 31 October 2023 1,101,893
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 1,101,893
At 31 October 2022 1,101,893
4 Debtors 2023 2022
£ £
Other debtors 1,198 1,198
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors - 9,600
Taxation and social security costs 192 1,983
Other creditors 13,850 13,300
14,042 24,883
6 Creditors: amounts falling due after one year 2023 2022
£ £
Secured loan 729,983 721,919
Shareholder's loan 299,109 298,642
1,029,092 1,020,561
7 Controlling party
The ultimate controlling party of the company is Ms J Pang
8 Other information
Pretco Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 St Cuthberts Road
London
NW2 3QJ
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