PV Properties Oban Limited SC751317 false 2022-11-23 2023-11-30 2023-11-30 The principal activity of the company is letting of residential property Digita Accounts Production Advanced 6.30.9574.0 true true SC751317 2022-11-23 2023-11-30 SC751317 2023-11-30 SC751317 bus:Director1 2023-11-30 SC751317 bus:Director2 2023-11-30 SC751317 bus:OrdinaryShareClass1 2023-11-30 SC751317 core:RetainedEarningsAccumulatedLosses 2023-11-30 SC751317 core:ShareCapital 2023-11-30 SC751317 core:CurrentFinancialInstruments 2023-11-30 SC751317 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 SC751317 core:LandBuildings 2023-11-30 SC751317 bus:SmallEntities 2022-11-23 2023-11-30 SC751317 bus:AuditExemptWithAccountantsReport 2022-11-23 2023-11-30 SC751317 bus:FullAccounts 2022-11-23 2023-11-30 SC751317 bus:SmallCompaniesRegimeForAccounts 2022-11-23 2023-11-30 SC751317 bus:RegisteredOffice 2022-11-23 2023-11-30 SC751317 bus:Director1 2022-11-23 2023-11-30 SC751317 bus:Director2 2022-11-23 2023-11-30 SC751317 bus:OrdinaryShareClass1 2022-11-23 2023-11-30 SC751317 bus:PrivateLimitedCompanyLtd 2022-11-23 2023-11-30 SC751317 bus:Agent1 2022-11-23 2023-11-30 SC751317 core:RetainedEarningsAccumulatedLosses 2022-11-23 2023-11-30 SC751317 core:ShareCapital 2022-11-23 2023-11-30 SC751317 core:LandBuildings 2022-11-23 2023-11-30 SC751317 countries:AllCountries 2022-11-23 2023-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC751317

PV Properties Oban Limited

Annual Report and Unaudited Financial Statements

for the Period from 23 November 2022 to 30 November 2023

 

PV Properties Oban Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 10

 

PV Properties Oban Limited

Company Information

Directors

Mr Paul Sloan

Mr Vincent Alfonso Valentini

Registered office

NO.1 The Pier
Oban
Argyll
Argyll
PA34 4LW

Accountants

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

 

PV Properties Oban Limited

Directors' Report for the Period from 23 November 2022 to 30 November 2023

The directors present their report and the financial statements for the period from 23 November 2022 to 30 November 2023.

Incorporation

The company was incorporated on 23 November 2022.

Directors of the company

The directors who held office during the period were as follows:

Mr Paul Sloan (appointed 23 November 2022)

Mr Vincent Alfonso Valentini (appointed 23 November 2022)

Principal activity

The principal activity of the company is letting of residential property

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr Paul Sloan
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
PV Properties Oban Limited
for the Period Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of PV Properties Oban Limited for the period ended 30 November 2023 as set out on pages 4 to 10 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 at
http://www.icaew.com/regulation.

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

It is your duty to ensure that PV Properties Oban Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of PV Properties Oban Limited. You consider that PV Properties Oban Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of PV Properties Oban 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 accounts.

......................................

Jack MacDonald & Co
Cuan Aille
1 Aldersyde
Taynuilt
Argyll
PA35 1AG

31 July 2024

 

PV Properties Oban Limited

Profit and Loss Account for the Period from 23 November 2022 to 30 November 2023

Note

2023
£

Turnover

 

10,930

Gross profit

 

10,930

Administrative expenses

 

(10,937)

Operating loss

 

(7)

Loss before tax

(7)

Loss for the financial period

 

(7)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the period other than the results above.

 

PV Properties Oban Limited

Statement of Comprehensive Income for the Period from 23 November 2022 to 30 November 2023

2023
£

Loss for the period

(7)

Total comprehensive income for the period

(7)

 

PV Properties Oban Limited

(Registration number: SC751317)
Balance Sheet as at 30 November 2023

Note

2023
£

Fixed assets

 

Tangible assets

3

313,190

Current assets

 

Debtors

4

11,222

Cash at bank and in hand

 

13,593

 

24,815

Creditors: Amounts falling due within one year

5

(337,912)

Net current liabilities

 

(313,097)

Net assets

 

93

Capital and reserves

 

Called up share capital

6

100

Retained earnings

(7)

Shareholders' funds

 

93

For the financial period ending 30 November 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 accounts for the period 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

.........................................
Mr Paul Sloan
Director

 

PV Properties Oban Limited

Statement of Changes in Equity for the Period from 23 November 2022 to 30 November 2023

Share capital
£

Retained earnings
£

Total
£

Loss for the period

-

(7)

(7)

New share capital subscribed

100

-

100

At 30 November 2023

100

(7)

93

 

PV Properties Oban Limited

Notes to the Unaudited Financial Statements for the Period from 23 November 2022 to 30 November 2023

1

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 sales/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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

PV Properties Oban Limited

Notes to the Unaudited Financial Statements for the Period from 23 November 2022 to 30 November 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

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

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

Additions

313,190

313,190

At 30 November 2023

313,190

313,190

Depreciation

Carrying amount

At 30 November 2023

313,190

313,190

Included within the net book value of land and buildings above is £313,190 in respect of freehold land and buildings.
 

 

PV Properties Oban Limited

Notes to the Unaudited Financial Statements for the Period from 23 November 2022 to 30 November 2023

4

Debtors

Current

2023
£

Other debtors

11,222

 

11,222

5

Creditors

Creditors: amounts falling due within one year

2023
£

Due within one year

Accruals and deferred income

3,500

Other creditors

334,412

337,912

6

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

100

100