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REGISTERED NUMBER: 07890369 (England and Wales)



















PDL ESTATES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


PDL ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr D Purewal
Mrs P Purewal





REGISTERED OFFICE: 81 Burton Road
Derby
Derbyshire
DE1 1TJ





REGISTERED NUMBER: 07890369 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,591 3,285
Investment property 5 757,409 750,000
761,000 753,285

CURRENT ASSETS
Debtors 6 9,787 1,094
Cash at bank and in hand 8,441 6,497
18,228 7,591
CREDITORS
Amounts falling due within one year 7 172,373 175,995
NET CURRENT LIABILITIES (154,145 ) (168,404 )
TOTAL ASSETS LESS CURRENT LIABILITIES 606,855 584,881

CREDITORS
Amounts falling due after more than one year 8 (490,900 ) (493,300 )

PROVISIONS FOR LIABILITIES (898 ) (821 )
NET ASSETS 115,057 90,760

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 57,409 50,000
Retained earnings 57,548 40,660
SHAREHOLDERS' FUNDS 115,057 90,760

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

BALANCE SHEET - continued
31 DECEMBER 2023


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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





Mr D Purewal - Director


PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

PDL Estates Limited 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.

Turnover
Turnover represents rents receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2023 6,649
Additions 940
At 31 December 2023 7,589
DEPRECIATION
At 1 January 2023 3,364
Charge for year 634
At 31 December 2023 3,998
NET BOOK VALUE
At 31 December 2023 3,591
At 31 December 2022 3,285

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 750,000
Revaluations 7,409
At 31 December 2023 757,409
NET BOOK VALUE
At 31 December 2023 757,409
At 31 December 2022 750,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 757,409

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 700,000 700,000

Investment Property was valued on an open market value basis on 31 December 2023 by the directors .

PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. INVESTMENT PROPERTY - continued

The investment property was valued by Paragon Bank at 31 March 2024 and the directors consider this to be the fair value as at the year end.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,040 -
Amounts owed by group undertakings 8,039 -
Prepayments and accrued income 708 1,094
9,787 1,094

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,400 2,400
Corporation tax 4,204 4,881
Other creditors 5,564 5,564
Directors' current accounts 152,338 155,354
Accruals and deferred income 7,867 7,796
172,373 175,995

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 3,400 5,800
Bank loans >5 yr (instalments) 487,500 487,500
490,900 493,300

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 487,500 487,500

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 493,300 495,700

PDL ESTATES LIMITED (REGISTERED NUMBER: 07890369)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 50,000
Transfer 7,409

At 31 December 2023 57,409

12. RELATED PARTY DISCLOSURES

Included in current liabilities is a loan to a director which has no fixed repayment terms and is interest free.