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Registered Number: 04449969
England and Wales

 

 

 

PILLAR LAND SECURITIES LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 February 2023

End date: 31 January 2024
Director Mr R J Pillar
Registered Number 04449969
Registered Office C3 Apollo Court
Neptune Park
Plymouth
PL4 0SJ
Accountants FUEL Accountancy Services Ltd
Chartered Certified Accountants
C3 Apollo Court
Neptune Park
Plymouth
PL4 0SJ
Secretary Mrs J Pillar
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 191,421    199,834 
Investments 4 151    151 
191,572    199,985 
Current assets      
Stocks 5 84,670    44,170 
Debtors: amounts falling due within one year 6 2,266,306    2,086,804 
Cash at bank and in hand 104,709    660,475 
2,455,685    2,791,449 
Creditors: amount falling due within one year 7 (19,534)   (299,472)
Net current assets 2,436,151    2,491,977 
 
Total assets less current liabilities 2,627,723    2,691,962 
Creditors: amount falling due after more than one year 8 (19,167)   (29,167)
Provisions for liabilities 9 (4,181)   (4,181)
Net assets 2,604,375    2,658,614 
 

Capital and reserves
     
Called up share capital 5,000    5,000 
Reserves 10 52,095    52,095 
Profit and loss account 2,547,280    2,601,519 
Shareholders' funds 2,604,375    2,658,614 
 


For the year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 16 September 2024 and were signed by:


-------------------------------
Mr R J Pillar
Director
2
General Information
PILLAR LAND SECURITIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04449969, registration address C3 Apollo Court, Neptune Park, Plymouth, PL4 0SJ.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. 
The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. 
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. 
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. 
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 
2.

Average number of employees

Average number of employees during the year was 5 (2023 : 5).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 February 2023 150,000    161,845    311,845 
Additions   5,394    5,394 
Disposals    
At 31 January 2024 150,000    167,239    317,239 
Depreciation
At 01 February 2023   112,011    112,011 
Charge for year   13,807    13,807 
On disposals    
At 31 January 2024   125,818    125,818 
Net book values
Closing balance as at 31 January 2024 150,000    41,421    191,421 
Opening balance as at 01 February 2023 150,000    49,834    199,834 


4.

Investments

Cost Investments in group undertakings   Total
  £   £
At 01 February 2023 151    151 
Additions  
Transfer to/from tangible fixed assets  
Disposals  
At 31 January 2024 151    151 

5.

Stocks

2024
£
  2023
£
Stocks 84,670    44,170 
84,670    44,170 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 568,755    536,263 
Other Debtors 1,697,551    1,550,541 
2,266,306    2,086,804 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors   11,823 
Bank Loans & Overdrafts 10,000    10,000 
Taxation and Social Security 3,725    32,316 
Other Creditors 5,809    245,333 
19,534    299,472 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 19,167    29,167 
19,167    29,167 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 4,181    4,181 
4,181    4,181 

10.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 52,095    52,095 
52,095    52,095 

3