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REGISTERED NUMBER: 08954627 (England and Wales)















Pinkman Limited

Financial Statements for the Year Ended 31st March 2024






Pinkman Limited (Registered number: 08954627)

Contents of the Financial Statements
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pinkman Limited

Company Information
for the Year Ended 31st March 2024







DIRECTORS: S C Dunne
R M Gray





REGISTERED OFFICE: Thatched Barn
The Street
Binsted
Alton
Hampshire
GU34 4PB





REGISTERED NUMBER: 08954627 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT

Pinkman Limited (Registered number: 08954627)

Balance Sheet
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 52,555 56,696
Investment property 5 1,595,000 1,595,000
1,647,555 1,651,696

CURRENT ASSETS
Debtors 6 441 588
Cash at bank 30,269 30,605
30,710 31,193
CREDITORS
Amounts falling due within one year 7 (19,563 ) (15,797 )
NET CURRENT ASSETS 11,147 15,396
TOTAL ASSETS LESS CURRENT LIABILITIES 1,658,702 1,667,092

CREDITORS
Amounts falling due after more than one
year

8

(1,090,262

)

(1,124,736

)

PROVISIONS FOR LIABILITIES (56,508 ) (44,008 )
NET ASSETS 511,932 498,348

Pinkman Limited (Registered number: 08954627)

Balance Sheet - continued
31st March 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 511,832 498,248
SHAREHOLDERS' FUNDS 511,932 498,348

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

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

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 30th July 2024 and were signed on its behalf by:





S C Dunne - Director


Pinkman Limited (Registered number: 08954627)

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


1. STATEMENT OF COMPLIANCE

Pinkman Limited is a private company, limited by shares, incorporated in England and Wales. The address of the registered office is Thatched Barn, The Street, Binsted, Alton, Hampshire, GU34 4PB. The registration number is 08954627.

The financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006

The financial statements have been prepared under the historical cost convention, except for investment properties which are held at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Tangible assets are depreciated over their useful lives taking into account residual values, where appropriate.The useful lives of these assets are estimated based on historic experience and future considerations and these are re-assessed annually.

Any gain or loss arising on the disposal of an asset is determined by the difference between sale proceeds and carrying value of the asset, and is credited or charged to the profit or loss

Investment property
Investment property is included at fair value, any aggregate surplus of deficit arising from changes in fair value is recognised in profit or loss. Deferred tax is provided on this gains at the rate expected to apply when the property is sold.

Pinkman Limited (Registered number: 08954627)

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


2. ACCOUNTING POLICIES - continued

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument.

Cash and cash equivalents
These comprise cash at bank and other short term liquid investments.

Debtors
Short term debtors are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and loss account when there is objective evidence that the asset is impaired.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.

Pinkman Limited (Registered number: 08954627)

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


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st April 2023
and 31st March 2024 60,518 319 60,837
DEPRECIATION
At 1st April 2023 4,035 106 4,141
Charge for year 4,034 107 4,141
At 31st March 2024 8,069 213 8,282
NET BOOK VALUE
At 31st March 2024 52,449 106 52,555
At 31st March 2023 56,483 213 56,696

The net book value of tangible fixed assets includes £ 52,449 (2023 - £ 56,483 ) in respect of assets held under hire purchase contracts.

Pinkman Limited (Registered number: 08954627)

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


5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1st April 2023
and 31st March 2024 1,595,000
NET BOOK VALUE
At 31st March 2024 1,595,000
At 31st March 2023 1,595,000

Fair Value at 31st March 2024 is represented by:
£
Valuation brought forward 265,313
Cost 1,279,687
1,545,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£ £
Cost 1,279,687 1,279,687

The properties are held at the fair value as estimated by the directors, based on their knowledge of the market and industry information.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 441 588

Pinkman Limited (Registered number: 08954627)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 5,474 4,913
Tax 8,028 6,292
Accrued expenses 6,061 4,592
19,563 15,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans more 5 yrs 608,050 608,050
Hire purchase contracts 39,404 44,878
Directors' loan accounts 442,808 471,808
1,090,262 1,124,736

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs 608,050 608,050

Included within the directors loan account is an amount of £240,000 (2023: £240,000) in relation to a loan agreement between the directors and Pinkman Limited.

The loan is due for repayment on 31st August 2041.

Pinkman Limited (Registered number: 08954627)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 608,050 608,050
Hire Purchase 44,878 49,791
652,928 657,841

The bank loans are secured by way of a fixed charge over the investment properties and a floating charge over the other assets of the company. In addition the bank loan is secured by way of personal guarantees given by the Directors.

The hire purchase liability is secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100

11. RESERVES
Retained
earnings
£   

At 1st April 2023 498,248
Profit for the year 17,584
Dividends (4,000 )
At 31st March 2024 511,832

Included in the above figure £260,000 (2023: £233,000) relates to distributable reserves.

12. RELATED PARTY DISCLOSURES

At the year end the directors and shareholders of the company were owed £442,808 (2023: £471,808), this balance is interest free.