Company registration number SC647085 (Scotland)
PENDER PROPERTY INVESTMENT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
PENDER PROPERTY INVESTMENT LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
PENDER PROPERTY INVESTMENT LIMITED
BALANCE SHEET
AS AT
29 NOVEMBER 2023
29 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
825,000
746,102
Current assets
Debtors
4
35,964
20,014
Cash at bank and in hand
2,371
4,863
38,335
24,877
Creditors: amounts falling due within one year
5
(305,407)
(294,563)
Net current liabilities
(267,072)
(269,686)
Total assets less current liabilities
557,928
476,416
Creditors: amounts falling due after more than one year
6
(517,827)
(517,827)
Provisions for liabilities
(19,724)
-
0
Net assets/(liabilities)
20,377
(41,411)
Capital and reserves
Called up share capital
7
1
1
Fair value reserve
9
59,173
-
0
Distributable profit and loss reserves
(38,797)
(41,412)
Total equity
20,377
(41,411)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 29 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

PENDER PROPERTY INVESTMENT LIMITED
BALANCE SHEET (CONTINUED)
AS AT
29 NOVEMBER 2023
29 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
Mrs K Pender
Director
Company Registration No. SC647085
PENDER PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

Pender Property Investment Limited is a private company limited by shares incorporated in Scotland. The registered office is 16 Kenilworth Road, Bridge of Allan, Stirling, Scotland, FK9 4DU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

As at 29 November 2023, the company had negative distributable reserves of £38,797 (2022: £41,412).true

 

The directors continue to support the company, allowing the company to meet its liabilities as they fall due and as such believe it is appropriate for the financial statements to be prepared on a going concern basis.

 

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

PENDER PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Investment property
2023
£
Cost
At 30 November 2022
746,102
Revaluations
78,898
At 29 November 2023
825,000
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
35,964
20,014
5
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
241,909
241,909
Taxation and social security
613
-
0
Other creditors
62,885
52,654
305,407
294,563
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
517,827
517,827
Creditors which fall due after five years are as follows:
2023
2022
£
£
Payable other than by instalments
517,827
517,827
PENDER PROPERTY INVESTMENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 NOVEMBER 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
8
Securities

A fixed charge has been granted over the property at 54A Great King Street, Edinburgh in favour of Paragon Bank PLC.

9
Fair value reserve
2023
2022
£
£
At the beginning of the year
-
-
Non distributable profits in the year
59,173
-
At the end of the year
59,173
-
10
Related party transactions

The following amounts were outstanding at the reporting end date:

2023
2022
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
241,909
241,909
Key management personnel
58,657
46,260

These loans are interest free, unsecured and no repayment terms have been established.

11
Parent company

The parent company is The Pender Familiy Investment Company (Scotland) Limited.

The ultimate controlling parties are Mr and Mrs S Pender.

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