2023-01-012023-12-312023-12-31false07926608The Point at Polzeath Properties 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The Point at Polzeath Properties Limited

Registered Number
07926608
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

The Point at Polzeath Properties Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr R D T Clive
Mr J J Davies
Mr M G A Kershaw
Mr T M O'Donnell
Mrs E E R Davies

Company Secretary

SPEAFI Secretarial Limited

Registered Address

Field Seymour Parkes Llp
1 London Street
Reading
RG1 4PN

Registered Number

07926608 (England and Wales)
The Point at Polzeath Properties Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets31,1221,122
Tangible assets49,262,5066,019,720
9,263,6286,020,842
Current assets
Stocks51,000-
Debtors527,816502,709
Cash at bank and on hand163,360102,378
692,176605,087
Creditors amounts falling due within one year6(10,807,507)(7,166,538)
Net current assets (liabilities)(10,115,331)(6,561,451)
Total assets less current liabilities(851,703)(540,609)
Creditors amounts falling due after one year7(15,912)(26,849)
Net assets(867,615)(567,458)
Capital and reserves
Called up share capital1010
Profit and loss account(867,625)(567,468)
Shareholders' funds(867,615)(567,458)
The financial statements were approved and authorised for issue by the Board of Directors on 30 July 2024, and are signed on its behalf by:
Mr J J Davies
Director
Registered Company No. 07926608
The Point at Polzeath Properties Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
intangible fixed assets are stated at cost or valuation less amortisation.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20232022
Average number of employees during the year30
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 January 231,1221,122
At 31 December 231,1221,122
Net book value
At 31 December 231,1221,122
At 31 December 221,1221,122
4.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Total

££££
Cost or valuation
At 01 January 235,952,86428,95154,6196,036,434
Additions1,974,6451,703,39810,8373,688,880
Disposals(89,875)--(89,875)
At 31 December 237,837,6341,732,34965,4569,635,439
Depreciation and impairment
At 01 January 23-5,79010,92416,714
Charge for year-345,31210,907356,219
At 31 December 23-351,10221,831372,933
Net book value
At 31 December 237,837,6341,381,24743,6259,262,506
At 31 December 225,952,86423,16143,6956,019,720
5.Stocks

2023

2022

££
Other stocks1,000-
Total1,000-
6.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables216,59175,086
Bank borrowings and overdrafts11,20011,200
Taxation and social security8459,788
Finance lease and HP contracts44,039-
Other creditors9,470,7946,193,555
Accrued liabilities and deferred income1,064,038876,909
Total10,807,5077,166,538
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.
7.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,91226,849
Total15,91226,849