PCS Property Ltd NI704602 false 2023-11-10 2023-12-31 2023-12-31 The principal activity of the company is property rental Digita Accounts Production Advanced 6.30.9574.0 true true NI704602 2023-11-10 2023-12-31 NI704602 2023-12-31 NI704602 bus:OrdinaryShareClass1 2023-12-31 NI704602 core:CurrentFinancialInstruments 2023-12-31 NI704602 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI704602 bus:SmallEntities 2023-11-10 2023-12-31 NI704602 bus:AuditExemptWithAccountantsReport 2023-11-10 2023-12-31 NI704602 bus:FilletedAccounts 2023-11-10 2023-12-31 NI704602 bus:SmallCompaniesRegimeForAccounts 2023-11-10 2023-12-31 NI704602 bus:RegisteredOffice 2023-11-10 2023-12-31 NI704602 bus:Director1 2023-11-10 2023-12-31 NI704602 bus:OrdinaryShareClass1 2023-11-10 2023-12-31 NI704602 bus:PrivateLimitedCompanyLtd 2023-11-10 2023-12-31 NI704602 countries:NorthernIreland 2023-11-10 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: NI704602

PCS Property Ltd

Unaudited Filleted Financial Statements

for the Period from 10 November 2023 to 31 December 2023

 

PCS Property Ltd

(Registration number: NI704602)
Balance Sheet as at 31 December 2023

Note

2023
£

Fixed assets

 

Investment property

4

296,650

Current assets

 

Debtors

5

59

Creditors: Amounts falling due within one year

6

(296,707)

Net current liabilities

 

(296,648)

Net assets

 

2

Capital and reserves

 

Called up share capital

7

2

Shareholders' funds

 

2

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 April 2024
 

.........................................
Mr Philip Stewart
Director

 

PCS Property Ltd

Notes to the Unaudited Financial Statements for the Period from 10 November 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 120B Ballinlea Road, Armoy, Ballymoney, Co. Antrim, BT53 8TY.

These financial statements were authorised for issue by the director on 23 April 2024.

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.

Going concern

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

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

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.

 

PCS Property Ltd

Notes to the Unaudited Financial Statements for the Period from 10 November 2023 to 31 December 2023

3

Staff numbers

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

4

Investment properties

2023
£

Additions

296,650

At 31 December

296,650

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

5

Debtors

Current

2023
£

Other debtors

59

 

59

 

PCS Property Ltd

Notes to the Unaudited Financial Statements for the Period from 10 November 2023 to 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Amounts owed to related parties

8

296,707

7

Share capital

Allotted, called up and fully paid shares

2023

No.

£

Ordinary shares of £1 each

2

2

   

8

Related party transactions

Creditors includes £40,000 due to RS Construction (Co. Antrim) Ltd and £206,707 due to PS Engineering (Co. Antrim) Ltd, both companies are controlled by the director and his wife. Creditors also includes £50,000 due to TJS Steel Supplies Ltd, a company controlled by the director.