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REGISTERED NUMBER: 08339545 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PIASECKI RESIDENTIAL LETTINGS LIMITED

PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

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










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 415 543
Investment property 5 1,850,000 1,850,000
1,850,415 1,850,543

CURRENT ASSETS
Debtors 15,726 12,875
Cash at bank and in hand 13,815 29,727
29,541 42,602
CREDITORS
Amounts falling due within one year 471,953 487,549
NET CURRENT LIABILITIES (442,412 ) (444,947 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,408,003

1,405,596

CREDITORS
Amounts falling due after more than one
year

6

(875,169

)

(879,932

)

PROVISIONS FOR LIABILITIES (37,007 ) (37,007 )
NET ASSETS 495,827 488,657

CAPITAL AND RESERVES
Called up share capital 300 300
Fair value reserve 8 241,565 241,565
Retained earnings 253,962 246,792
SHAREHOLDERS' FUNDS 495,827 488,657

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.

PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

ABRIDGED 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 September 2024 and were signed on its behalf by:





Ms E L Piasecki - Director


PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

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


1. STATUTORY INFORMATION

Piasecki Residential Lettings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08339545

Registered office: 6 Orchard Drive
The Sands
Durham
Co. Durham
DH1 1LA

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 rent due in the accounting period from investment properties, and amounts due in respect of external maintenance services provided during 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.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at the directors' most recent estimated 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.

PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

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


2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2023 1,164
Additions 130
At 31 December 2023 1,294
DEPRECIATION
At 1 January 2023 621
Charge for year 258
At 31 December 2023 879
NET BOOK VALUE
At 31 December 2023 415
At 31 December 2022 543

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023
and 31 December 2023 1,850,000
NET BOOK VALUE
At 31 December 2023 1,850,000
At 31 December 2022 1,850,000

Fair value at 31 December 2023 is represented by:
£
Valuation in 2015 37,631
Valuation in 2016 (2,229 )
Valuation in 2017 (2,986 )
Valuation in 2018 (6,879 )
Valuation in 2021 253,035
Cost 1,571,428
1,850,000

PIASECKI RESIDENTIAL LETTINGS LIMITED (REGISTERED NUMBER: 08339545)

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


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2023 2022
£ £
Repayable by instalments
Bank loans 856,134 860,897

7. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 849,392 849,396

The bank loans are secured on the properties to which they relate.

8. RESERVES
Fair value
reserve
£
At 1 January 2023
and 31 December 2023 241,565