Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-312023-02-01falsefalseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05029051 2023-02-01 2024-01-31 05029051 2022-02-01 2023-01-31 05029051 2024-01-31 05029051 2023-01-31 05029051 2022-02-01 05029051 2 2022-02-01 2023-01-31 05029051 7 2022-02-01 2023-01-31 05029051 d:Director2 2023-02-01 2024-01-31 05029051 d:Director2 2024-01-31 05029051 d:Director2 2023-01-31 05029051 e:PlantMachinery 2023-02-01 2024-01-31 05029051 e:PlantMachinery 2024-01-31 05029051 e:PlantMachinery 2023-01-31 05029051 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05029051 e:MotorVehicles 2023-02-01 2024-01-31 05029051 e:MotorVehicles 2024-01-31 05029051 e:MotorVehicles 2023-01-31 05029051 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05029051 e:FurnitureFittings 2023-02-01 2024-01-31 05029051 e:FurnitureFittings 2024-01-31 05029051 e:FurnitureFittings 2023-01-31 05029051 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05029051 e:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 05029051 e:FreeholdInvestmentProperty 2024-01-31 05029051 e:FreeholdInvestmentProperty 2023-01-31 05029051 e:CurrentFinancialInstruments 2024-01-31 05029051 e:CurrentFinancialInstruments 2023-01-31 05029051 e:CurrentFinancialInstruments e:WithinOneYear 2024-01-31 05029051 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 05029051 e:ShareCapital 2024-01-31 05029051 e:ShareCapital 2023-01-31 05029051 e:ShareCapital 2022-02-01 05029051 e:InvestmentPropertiesRevaluationReserve 2024-01-31 05029051 e:InvestmentPropertiesRevaluationReserve 2023-01-31 05029051 e:InvestmentPropertiesRevaluationReserve 2022-02-01 05029051 e:InvestmentPropertiesRevaluationReserve 2 2022-02-01 2023-01-31 05029051 e:RetainedEarningsAccumulatedLosses 2023-02-01 2024-01-31 05029051 e:RetainedEarningsAccumulatedLosses 2024-01-31 05029051 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 05029051 e:RetainedEarningsAccumulatedLosses 2023-01-31 05029051 e:RetainedEarningsAccumulatedLosses 2022-02-01 05029051 e:RetainedEarningsAccumulatedLosses 2 2022-02-01 2023-01-31 05029051 d:FRS102 2023-02-01 2024-01-31 05029051 d:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 05029051 d:FullAccounts 2023-02-01 2024-01-31 05029051 d:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05029051 2 2023-02-01 2024-01-31 05029051 f:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 05029051










P & K PROPERTY MAINTENANCE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
P & K PROPERTY MAINTENANCE LIMITED
REGISTERED NUMBER: 05029051

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
589
827

Investment property
 6 
299,000
299,000

  
299,589
299,827

Current assets
  

Debtors: amounts falling due within one year
 7 
10,370
81,367

Cash at bank and in hand
  
28,463
17,142

  
38,833
98,509

Creditors: amounts falling due within one year
 8 
(149,109)
(214,796)

Net current liabilities
  
 
 
(110,276)
 
 
(116,287)

Total assets less current liabilities
  
189,313
183,540

Provisions for liabilities
  

Deferred tax
  
(16,742)
(15,298)

  
 
 
(16,742)
 
 
(15,298)

Net assets
  
172,571
168,242


Capital and reserves
  

Called up share capital 
  
559
559

Investment property reserve
  
126,504
126,504

Profit and loss account
  
45,508
41,179

  
172,571
168,242


Page 1

 
P & K PROPERTY MAINTENANCE LIMITED
REGISTERED NUMBER: 05029051
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Miss K Browning
Director

Date: 4 September 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 

 
P & K PROPERTY MAINTENANCE LIMITED


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2024



Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity


£
£
£
£



At 1 February 2022
559
84,279
68,144
152,982



Comprehensive income for the year


Profit for the year
-
-
15,260
15,260


Fair value adjustments
-
-
(42,225)
(42,225)


Transfer of revaluation
-
42,225
-
42,225





At 1 February 2023
559
126,504
41,179
168,242



Comprehensive income for the year


Profit for the year
-
-
4,329
4,329



At 31 January 2024
559
126,504
45,508
172,571



The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

P & K Property Maintenance Limited is a private company, limited by shares, registered in England and Wales. The company's registered office address is Victoria Court,17-21 Ashford Road, Maidstone, Kent, ME14 5DA.
The presentation currency of the financial statements is the Pound Sterling (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover represents rental income and, if applicable service charges and other rechargeable expenses.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific assets. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash
Page 6

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No significant judgements have been made by management in preparing these financial statements.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 7

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 February 2023
2,543
10,000
1,356
13,899


Disposals
-
(10,000)
-
(10,000)



At 31 January 2024

2,543
-
1,356
3,899



Depreciation


At 1 February 2023
1,894
9,958
1,220
13,072


Charge for the year on owned assets
162
-
34
196


Disposals
-
(9,958)
-
(9,958)



At 31 January 2024

2,056
-
1,254
3,310



Net book value



At 31 January 2024
487
-
102
589



At 31 January 2023
649
42
136
827

Page 8

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
299,000



At 31 January 2024
299,000

The 2024 valuation was made by the directors, on an open market value for existing use basis. In their opinion the value of the investment property is in line with current market rents and investment property yields for comparable real estates.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
153,473
153,473

153,473
153,473


7.


Debtors

2024
2023
£
£


Other debtors
9,644
80,223

Prepayments and accrued income
726
1,144

10,370
81,367


Page 9

 
P & K PROPERTY MAINTENANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
4,116

Other taxation and social security
8,003
48,444

Other creditors
137,006
157,367

Accruals and deferred income
4,100
4,869

149,109
214,796



9.


Related party transactions

At the financial year end, the company owed to the directors £135,817 (2023: owed to the company £75,981). This amount is interest free, unsecured and payable on demand.

 
Page 10