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REGISTERED NUMBER: 07079951 (England and Wales)















Pontcanna Development Ltd

Unaudited Financial Statements for the Year Ended 31 January 2024






Pontcanna Development Ltd (Registered number: 07079951)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Pontcanna Development Ltd

Company Information
for the Year Ended 31 January 2024







Directors: Mr C Voyle
Mr W A Voyle





Registered office: Apartment 3
The Bank
100 Bute Street
CARDIFF
CF10 5AS





Registered number: 07079951 (England and Wales)





Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ

Pontcanna Development Ltd (Registered number: 07079951)

Balance Sheet
31 January 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 493 658
Investment property 5 1,100,000 1,100,000
1,100,493 1,100,658

Current assets
Debtors 6 555 555
Cash at bank 20,314 35,085
20,869 35,640
Creditors
Amounts falling due within one year 7 (192,205 ) (190,291 )
Net current liabilities (171,336 ) (154,651 )
Total assets less current liabilities 929,157 946,007

Creditors
Amounts falling due after more than one year 8 (512,600 ) (536,400 )
Net assets 416,557 409,607

Capital and reserves
Called up share capital 1,000 1,000
Retained earnings 415,557 408,607
Shareholders' funds 416,557 409,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Pontcanna Development Ltd (Registered number: 07079951)

Balance Sheet - continued
31 January 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 September 2024 and were signed on its behalf by:





Mr C Voyle - Director


Pontcanna Development Ltd (Registered number: 07079951)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. Statutory information

Pontcanna Development Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance

Investment property
Included in fair value of investment property is freehold land of £1,100,000 (2023 - £1,100,000) which is not depreciated.

Going concern
As at 31 January 2024 the company was reporting net current liabilities of £171,336 (2023 - £154,651)

Included within creditors is £142,915 (2023 - £144,015) owed by the company to the director. The director has confirmed he will not seek repayment of this loan until such time as the company has sufficient funds available.

Based on the above these accounts have been prepared on a going concern basis.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Plant and
machinery
£   
Cost
At 1 February 2023
and 31 January 2024 3,673
Depreciation
At 1 February 2023 3,015
Charge for year 165
At 31 January 2024 3,180
Net book value
At 31 January 2024 493
At 31 January 2023 658

Pontcanna Development Ltd (Registered number: 07079951)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

5. Investment property
Total
£   
Fair value
At 1 February 2023
and 31 January 2024 1,100,000
Net book value
At 31 January 2024 1,100,000
At 31 January 2023 1,100,000

Included in fair value of investment property is freehold land of £ 1,100,000 (2023 - £ 1,100,000 ) which is not depreciated.

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2024 1,100,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by group undertakings 550 550
Other debtors 5 5
555 555

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 20,000 20,000
Other loans 6,000 6,000
Trade creditors 500 500
Tax 7,467 7,454
VAT 1,272 303
Other creditors 12,791 10,831
Directors' current accounts 142,915 144,015
Accrued expenses 1,260 1,188
192,205 190,291

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 20,000 20,000
Bank loans - 2-5 years 60,000 60,000
Bank loans more 5 yr by instal 424,600 442,400
Other loans - 1-2 years 6,000 6,000
Other loans - 2-5 years 2,000 8,000
512,600 536,400

Pontcanna Development Ltd (Registered number: 07079951)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

8. Creditors: amounts falling due after more than one year - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 424,600 442,400

9. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 170 1,172
Between one and five years - 98
170 1,270

.

10. Directors' advances, credits and guarantees

The following amounts owed a director subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mr C Voyle
Balance outstanding at start of year 144,015 151,055
Amounts repaid (1,100 ) (7,040 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 142,915 144,015

No interest is charged on this loan and there is no fixed date of repayment.

11. Ultimate controlling party

The ultimate controlling party is Mr C Voyle.