Pagham Beach (Holdings) Limited 00630261 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of facilities at Pagham Beach for the general preservation of the area. Digita Accounts Production Advanced 6.30.9574.0 true true 00630261 2023-01-01 2023-12-31 00630261 2023-12-31 00630261 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-12-31 00630261 core:CurrentFinancialInstruments 2023-12-31 00630261 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00630261 core:FurnitureFittingsToolsEquipment 2023-12-31 00630261 bus:SmallEntities 2023-01-01 2023-12-31 00630261 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00630261 bus:FilletedAccounts 2023-01-01 2023-12-31 00630261 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00630261 bus:RegisteredOffice 2023-01-01 2023-12-31 00630261 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 00630261 bus:Director1 2023-01-01 2023-12-31 00630261 bus:Director3 2023-01-01 2023-12-31 00630261 bus:Director4 2023-01-01 2023-12-31 00630261 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-01-01 2023-12-31 00630261 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00630261 countries:AllCountries 2023-01-01 2023-12-31 00630261 2022-12-31 00630261 core:FurnitureFittingsToolsEquipment 2022-12-31 00630261 2022-01-01 2022-12-31 00630261 2022-12-31 00630261 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2022-12-31 00630261 core:CurrentFinancialInstruments 2022-12-31 00630261 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00630261

Pagham Beach (Holdings) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Pagham Beach (Holdings) Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Pagham Beach (Holdings) Limited

Company Information
__________________________________________________________________________

Directors

Jonathan Michael Lee

John Anthony Higham

Peter Jonathan Dance

Susan Mary Higham

Company secretary

John Anthony Higham

Registered office

Woodlands Cottage
Pirbright Road
Normandy
Guildford
Surrey
GU3 2HT


 

Accountants

Brooks Green
Chartered Accountants
Abbey House
342 Regents Park Road
London
N3 2LJ

 

Pagham Beach (Holdings) Limited

(Registration number: 00630261)
Balance Sheet as at 31 December 2023
__________________________________________________________________________

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

379,450

379,450

Current assets

 

Debtors

5

25,979

27,329

Cash at bank and in hand

 

127,613

115,045

 

153,592

142,374

Creditors: Amounts falling due within one year

6

(19,321)

(17,017)

Net current assets

 

134,271

125,357

Total assets less current liabilities

 

513,721

504,807

Provisions for liabilities

(54,015)

(54,015)

Net assets

 

459,706

450,792

Capital and reserves

 

Called up share capital

7

6,925

6,925

Revaluation reserve

260,435

260,435

Retained earnings

192,346

183,432

Shareholders' funds

 

459,706

450,792

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 July 2024 and signed on its behalf by:
 

.........................................
Susan Mary Higham
Director

 

Pagham Beach (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

1

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date,
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferrred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that arew expected to apply to the reversal of timing differences.
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 profits.

 

Pagham Beach (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. The Directors 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Pagham Beach (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

8,624

8,624

At 31 December 2023

8,624

8,624

Depreciation

At 1 January 2023

8,624

8,624

At 31 December 2023

8,624

8,624

Carrying amount

At 31 December 2023

-

-

4

Investment properties

2023
£

At 1 January

379,450

At 31 December

379,450

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

5

Debtors

Current

2023
£

2022
£

Other debtors

25,979

27,329

 

25,979

27,329

 

Pagham Beach (Holdings) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
__________________________________________________________________________

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

5,316

1,214

Accruals and deferred income

4,337

4,361

Other creditors

9,668

11,442

19,321

17,017

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

6,925

6,925

6,925

6,925

       

8

Related party transactions

Management services of £10,000 were paid (2021 - £10,000) to J Higham Associates, an organisation managed by J. A Higham, a director of this company.