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Registration number: 12329721

Prepared for the registrar

PAHE Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

PAHE Investments Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

PAHE Investments Limited

Company Information

Directors

A N Bence

P C Bence

Registered office

41-47 Fairview Road
Cheltenham
GL52 3EJ

Accountants

Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT

 

PAHE Investments Limited

(Registration number: 12329721)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

552,224

552,224

Current assets

 

Cash at bank and in hand

 

32,962

30,102

Creditors: Amounts falling due within one year

5

(220,672)

(220,910)

Net current liabilities

 

(187,710)

(190,808)

Total assets less current liabilities

 

364,514

361,416

Creditors: Amounts falling due after more than one year

5

(327,418)

(335,569)

Net assets

 

37,096

25,847

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

36,996

25,747

Shareholders' funds

 

37,096

25,847

For the financial year 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 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

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 Profit and Loss Account has been taken.

Approved and authorised by the Board on 13 August 2024 and signed on its behalf by:
 


P C Bence
Director

 

PAHE Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

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:
41-47 Fairview Road
Cheltenham
GL52 3EJ

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in rent on the property owned by the company.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

PAHE Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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 by external valuers. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

PAHE Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

4

Investment properties

£

At 1 December 2022 and 30 November 2023

552,224

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

 

5

Creditors

Note

2023
 £

2022
 £

Due within one year

 

Loans and borrowings

6

218,033

218,652

Corporation tax liability

2,639

2,258

 

220,672

220,910

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

6

327,418

335,569

 

6

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

9,100

10,000

Other borrowings

208,933

208,652

218,033

218,652

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

327,418

335,569

Bank borrowings

The Mortgage is denominated in GB£ with a nominal interest rate of 6.39%, and the final instalment is due on 31 October 2046. The carrying amount at year end is £336,518 (2022 - £345,569).

The mortgage is secured against the property held by the company.

 

PAHE Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

 

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100