PFT Freehold Limited |
Notes to the Accounts |
for the year ended 30 November 2023 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% on a reducing balance |
|
Fixtures, fittings, tools and equipment |
25% on a reducing balance |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
2 |
Employees |
2023 |
|
2022 |
Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Land and buildings |
£ |
|
Cost |
|
At 1 December 2022 |
57,700 |
|
At 30 November 2023 |
57,700 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 30 November 2023 |
- |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 November 2023 |
57,700 |
|
At 30 November 2022 |
57,700 |
|
|
4 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Other debtors |
100 |
|
100 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
57,700 |
|
57,700 |
|
|
|
|
|
|
|
|
|
|
6 |
Controlling party |
|
|
The company is controlled by F Topea and P Tropea on the basis that they hold 100% of the ordinary issued share capital of the company. |
|
|
7 |
Other information |
|
|
PFT Freehold Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Pennyweights |
|
Kenley |
|
CR8 5HB |