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REGISTERED NUMBER: 08705450 (England and Wales)



















PDL ESTATES (BLOOMSBURY) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






PDL ESTATES (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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 (BLOOMSBURY) 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: 08705450 (England and Wales)





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

PDL ESTATES (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,704 1,397
Investment property 5 400,000 400,000
401,704 401,397

CURRENT ASSETS
Debtors 6 23,420 1,333
Cash at bank and in hand 1,140 13,466
24,560 14,799
CREDITORS
Amounts falling due within one year 7 39,266 21,472
NET CURRENT LIABILITIES (14,706 ) (6,673 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

386,998

394,724

CREDITORS
Amounts falling due after more than one
year

8

(211,650

)

(216,848

)

PROVISIONS FOR LIABILITIES (23,320 ) (17,679 )
NET ASSETS 152,028 160,197

CAPITAL AND RESERVES
Called up share capital 10 2 2
Fair value reserve 11 92,015 97,509
Retained earnings 60,011 62,686
SHAREHOLDERS' FUNDS 152,028 160,197

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 (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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 (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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


1. STATUTORY INFORMATION

PDL Estates (Bloomsbury) 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 the total amount of rents receivable by the company for the period.

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) or valuation less accumulated depreciation and accumulated impairment losses. 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
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. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 1 (2022 - NIL ) .

PDL ESTATES (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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 5,174
Additions 608
At 31 December 2023 5,782
DEPRECIATION
At 1 January 2023 3,777
Charge for year 301
At 31 December 2023 4,078
NET BOOK VALUE
At 31 December 2023 1,704
At 31 December 2022 1,397

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 400,000
NET BOOK VALUE
At 31 December 2023 400,000
At 31 December 2022 400,000

The investment property is on a 125 year lease which commenced on 1 January 2002.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2023 400,000

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

2023 2022
£    £   
Cost 285,091 285,091

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,238 1,333
Other debtors 20,000 -
Prepayments and accrued income 2,182 -
23,420 1,333

PDL ESTATES (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 6,715 8,115
Corporation tax 273 6,413
Social security and other taxes 375 -
Other creditors 3,100 2,600
Directors' current accounts 15,539 39
Accruals and deferred income 13,264 4,305
39,266 21,472

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 22,429 29,745
Bank loans >5 yr (instalments) 189,221 187,103
211,650 216,848

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) 189,221 187,103

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 218,365 224,963

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023 97,509
Transfer (5,494 )

At 31 December 2023 92,015

PDL ESTATES (BLOOMSBURY) LIMITED (REGISTERED NUMBER: 08705450)

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


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr D Purewal and Mrs P Purewal
Balance outstanding at start of year (39 ) 8,461
Amounts advanced 500 -
Amounts repaid (16,000 ) (8,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (15,539 ) (39 )

13. RELATED PARTY DISCLOSURES

Included in current assets/liabilities is a loan from/to the directors which has no fixed repayment terms and is interest free.