2023-04-012024-03-312024-03-31false04627898PRIMAVERA PROPERTIES (UK) 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PRIMAVERA PROPERTIES (UK) LTD

Registered Number
04627898
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

PRIMAVERA PROPERTIES (UK) LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Alexander Oddie

Registered Address

229 South Park Road
London
SW19 8RY

Registered Number

04627898 (England and Wales)
PRIMAVERA PROPERTIES (UK) LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,608,7723,619,465
3,608,7723,619,465
Current assets
Debtors41,5451,561
Cash at bank and on hand3,8793,936
5,4245,497
Creditors amounts falling due within one year5(24,624)(62,324)
Net current assets (liabilities)(19,200)(56,827)
Total assets less current liabilities3,589,5723,562,638
Creditors amounts falling due after one year6(1,574,304)(1,576,544)
Provisions for liabilities7(7,856)(7,856)
Net assets2,007,4121,978,238
Capital and reserves
Called up share capital314314
Revaluation reserve1,882,5141,882,514
Other reserves3030
Profit and loss account124,55495,380
Shareholders' funds2,007,4121,978,238
The financial statements were approved and authorised for issue by the Director on 28 August 2024, and are signed on its behalf by:
Alexander Oddie
Director
Registered Company No. 04627898
PRIMAVERA PROPERTIES (UK) LTD
Notes to the Financial Statements
for the year ended 31 March 2024

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.
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).
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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:
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Total

££££
Cost or valuation
At 01 April 233,575,00049,34065,9283,690,268
At 31 March 243,575,00049,34065,9283,690,268
Depreciation and impairment
At 01 April 23-45,10625,69770,803
Charge for year-63510,05810,693
At 31 March 24-45,74135,75581,496
Net book value
At 31 March 243,575,0003,59930,1733,608,772
At 31 March 233,575,0004,23440,2313,619,465
Included within the net book value of land and buildings above is £3,980,000 (2021 - £3,575,000) in respect of freehold land and buildings. Revaluation The fair value of the company's Property was revalued on 31 March 2022. An independent valuer was not involved. The properties were revalued using the Halifax price index. . Had this class of asset been measured on a historical cost basis, the carrying amount would have been £1,588,596 (2022 - £1,588,596).
4.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income1,5451,561
Total1,5451,561
5.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts2,418562
Taxation and social security13,12515,110
Payments received on account7,5966,747
Other creditors11638,606
Accrued liabilities and deferred income1,3691,299
Total24,62462,324
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.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts1,574,3041,576,544
Total1,574,3041,576,544
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7,8567,856
Total7,8567,856