2023-02-012024-01-312024-01-31false03698047Pondside Properties 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Pondside Properties Limited

Registered Number
03698047
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

Pondside Properties Limited
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

C. Klein
Jessica Andrea Carter Klein

Company Secretary

Brian Melvyn Klein

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

03698047 (England and Wales)
Pondside Properties Limited
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3747996
Investments44,431,2294,412,106
4,431,9764,413,102
Current assets
Debtors56,5467,340
Cash at bank and on hand36,77441,972
43,32049,312
Creditors amounts falling due within one year6(1,351,932)(1,275,897)
Net current assets (liabilities)(1,308,612)(1,226,585)
Total assets less current liabilities3,123,3643,186,517
Creditors amounts falling due after one year7(329,567)(429,567)
Provisions for liabilities9(236,600)(236,643)
Net assets2,557,1972,520,307
Capital and reserves
Called up share capital100100
Revaluation reserve2,138,2952,138,295
Profit and loss account418,802381,912
Shareholders' funds2,557,1972,520,307
The financial statements were approved and authorised for issue by the Board of Directors on 16 September 2024, and are signed on its behalf by:
C. Klein
Director
Registered Company No. 03698047
Pondside Properties Limited
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover represents rents receivable from the investment properties owned by company. Rents are recognised up to the year end date.
Current 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 statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year31
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2321,633
At 31 January 2421,633
Depreciation and impairment
At 01 February 2320,637
Charge for year249
At 31 January 2420,886
Net book value
At 31 January 24747
At 31 January 23996
4.Fixed asset investments

Total

£
Cost or valuation
At 01 February 234,412,106
Additions19,123
At 31 January 244,431,229
Net book value
At 31 January 244,431,229
At 31 January 234,412,106
5.Debtors: amounts due within one year

2024

2023

££
Prepayments and accrued income6,5467,340
Total6,5467,340
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,6214,698
Amounts owed to related parties1,277,9591,213,360
Taxation and social security19,33117,160
Other creditors40,23037,035
Accrued liabilities and deferred income2,7913,644
Total1,351,9321,275,897
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts329,567429,567
Total329,567429,567
8.Secured creditors
The bank loans are secured on Investment property which have a carrying value of £4,431,229 (2023 - £4,412,106). The directors consider that their carrying amounts of the bank loans approximate to their fair value.
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)236,600236,643
Total236,600236,643