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REGISTERED NUMBER: 08832845 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Page Property and Financial Limited

Page Property and Financial Limited (Registered number: 08832845)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Page Property and Financial Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: A G Page
Mrs S L Page





SECRETARY: A G Page





REGISTERED OFFICE: 1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL





REGISTERED NUMBER: 08832845 (England and Wales)





ACCOUNTANTS: Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL

Page Property and Financial Limited (Registered number: 08832845)

Abridged Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,942 155
Investment property 5 3,344,101 3,187,788
3,346,043 3,187,943

CURRENT ASSETS
Debtors 6,611 2,582
Cash at bank 3,243 5,783
9,854 8,365
CREDITORS
Amounts falling due within one year 1,587,893 1,329,317
NET CURRENT LIABILITIES (1,578,039 ) (1,320,952 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,768,004

1,866,991

CREDITORS
Amounts falling due after more than one
year

6

(474,077

)

(648,385

)

PROVISIONS FOR LIABILITIES (148,239 ) (149,142 )
NET ASSETS 1,145,688 1,069,464

CAPITAL AND RESERVES
Called up share capital 4 4
Fair value reserve 8 613,128 614,436
Retained earnings 532,556 455,024
SHAREHOLDERS' FUNDS 1,145,688 1,069,464

Page Property and Financial Limited (Registered number: 08832845)

Abridged Balance Sheet - continued
31 May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

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 Income Statement and an abridged Balance Sheet for the year ended 31 May 2024 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 30 July 2024 and were signed on its behalf by:





A G Page - Director


Page Property and Financial Limited (Registered number: 08832845)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Page Property and Financial 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on reducing balance

Investment property
In accordance with Financial Reporting Standard 102 Section 1a, investment property is included at fair value and gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided, which is a departure from the Companies Act 2006, but is required to provide a true and fair view. The directors undertake an annual review of valuations and seek independent professional valuations once every 5 years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rental income
Rental income arising from investment properties is accounted for on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Page Property and Financial Limited (Registered number: 08832845)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023 1,709
Additions 2,899
Disposals (1,709 )
At 31 May 2024 2,899
DEPRECIATION
At 1 June 2023 1,554
Charge for year 957
Eliminated on disposal (1,554 )
At 31 May 2024 957
NET BOOK VALUE
At 31 May 2024 1,942
At 31 May 2023 155

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 3,187,788
Additions 156,313
At 31 May 2024 3,344,101
NET BOOK VALUE
At 31 May 2024 3,344,101
At 31 May 2023 3,187,788

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 760,927
Cost 2,583,174
3,344,101

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,426,861 2,426,861

Investment property was valued on an open market basis on 31 May 2024 by the directors .

Page Property and Financial Limited (Registered number: 08832845)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 459,868 627,168

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 459,868 627,168

The Newbury Building Society holds a fixed legal charge over 8 Bishopsfield Road, Fareham. Further, all monies are guaranteed by the directors.The Building Society also holds a fixed legal charge over 13 Kings Road, Fareham.

Axis Bank UK Limited hold a first legal charge and a first fixed charge over land at 3 Madison Court, Fareham.

8. RESERVES
Fair
value
reserve
£   
At 1 June 2023 614,436
Revaluation (1,308 )

At 31 May 2024 613,128

9. CONTINGENT LIABILITIES

There were no known material contingent liabilities at the year end.

10. POST BALANCE SHEET EVENTS

There were no material post balance sheet events.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Page Property and Financial Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Page Property and Financial Limited for the year ended 31 May 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Page Property and Financial Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Page Property and Financial Limited and state those matters that we have agreed to state to the Board of Directors of Page Property and Financial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Page Property and Financial Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Page Property and Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Page Property and Financial Limited. You consider that Page Property and Financial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Page Property and Financial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kenneth Morris Limited
1 Aston Court
Bromsgrove Technology Park
Bromsgrove
Worcestershire
B60 3AL


30 July 2024