Period and Country Houses Limited 00841501 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is The restoration of period and historic properties Digita Accounts Production Advanced 6.30.9574.0 true 00841501 2023-04-01 2024-03-31 00841501 2024-03-31 00841501 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 00841501 core:CurrentFinancialInstruments 2024-03-31 00841501 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 00841501 bus:SmallEntities 2023-04-01 2024-03-31 00841501 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00841501 bus:FullAccounts 2023-04-01 2024-03-31 00841501 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00841501 bus:RegisteredOffice 2023-04-01 2024-03-31 00841501 bus:Director1 2023-04-01 2024-03-31 00841501 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00841501 countries:EnglandWales 2023-04-01 2024-03-31 00841501 2023-03-31 00841501 2022-04-01 2023-03-31 00841501 2023-03-31 00841501 core:CurrentFinancialInstruments 2023-03-31 00841501 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 00841501

Period and Country Houses Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 31 March 2024

 

Period and Country Houses Limited

(Registration number: 00841501)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,126,512

1,126,512

Other financial assets

5

23

23

 

1,126,535

1,126,535

Current assets

 

Debtors

6

1,500

1,500

Cash at bank and in hand

 

72,455

77,400

 

73,955

78,900

Creditors: Amounts falling due within one year

7

(5,095)

(5,506)

Net current assets

 

68,860

73,394

Total assets less current liabilities

 

1,195,395

1,199,929

Provisions for liabilities

(150,805)

(150,805)

Net assets

 

1,044,590

1,049,124

Capital and reserves

 

Called up share capital

300,000

300,000

Fair value reserve

582,628

582,628

Profit and loss account

161,962

166,496

Shareholders' funds

 

1,044,590

1,049,124

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 29 July 2024 and signed on its behalf by:
 

 

Period and Country Houses Limited

(Registration number: 00841501)
Statement of Financial Position as at 31 March 2024 (continued)

.........................................
Mr C L Syddall
Director

 

Period and Country Houses Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is: Knoll House, Knoll Road, Camberley, Surrey, GU15 3SY. United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Changes in accounting estimate

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss and are recorded through a non-distributable fair value reserve.

 

Period and Country Houses Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 April 2023

1,126,512

At 31 March 2024

1,126,512

There has been no valuation of investment property by an independent valuer.

 

Period and Country Houses Limited

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

23

23

At 31 March 2024

23

23

Impairment

Carrying amount

At 31 March 2024

23

23

6

Debtors

2024
£

2023
£

Other debtors

1,500

1,500

1,500

1,500

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Accruals and deferred income

2,100

2,100

Other creditors

2,995

3,406

5,095

5,506