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REGISTERED NUMBER: 08245508 (England and Wales)















DIRECTOR'S REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

PETERS PROPERTIES KENT LIMITED

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)






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




Page

Company Information 1

Director's Report 2

Income Statement 3

Balance Sheet 4

Notes to the Financial Statements 6


PETERS PROPERTIES KENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: P Waddell





REGISTERED OFFICE: The Showroom
Lakeside Services
Sturry Road
Canterbury
Kent
CT11DS





REGISTERED NUMBER: 08245508 (England and Wales)






PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents his report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of property rental and investment.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTOR
P Waddell held office during the whole of the period from 1 January 2023 to the date of this report.

ON BEHALF OF THE BOARD:





P Waddell - Director


26 September 2024

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   

TURNOVER 2,580,255 1,399,617

Cost of sales (136,308 ) (5,000 )
GROSS PROFIT 2,443,947 1,394,617

Administrative expenses (1,214,492 ) (106,226 )
OPERATING PROFIT 5 1,229,455 1,288,391
PROFIT BEFORE TAXATION 1,229,455 1,288,391

Tax on profit 324,398 (317,572 )
PROFIT FOR THE FINANCIAL YEAR 1,553,853 970,819

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £   
FIXED ASSETS
Tangible assets 6 2,535,923 2,383,924
Investments 7 6,150,000 3,733,357
Investment property 8 31,214,869 26,095,566
39,900,792 32,212,847

CURRENT ASSETS
Debtors 9 1,807,423 793,521
Cash at bank 3,770,245 164,241
5,577,668 957,762
CREDITORS
Amounts falling due within one year 10 (32,771,949 ) (27,964,413 )
NET CURRENT LIABILITIES (27,194,281 ) (27,006,651 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,706,511

5,206,196

CREDITORS
Amounts falling due after more than one year 11 (5,946,462 ) -

PROVISIONS FOR LIABILITIES (233,776 ) (233,776 )
NET ASSETS 6,526,273 4,972,420

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 6,526,173 4,972,320
SHAREHOLDERS' FUNDS 6,526,273 4,972,420

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 director acknowledges his 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.

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

BALANCE SHEET - continued
31 DECEMBER 2023


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 26 September 2024 and were signed by:





P Waddell - Director


PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

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

1. STATUTORY INFORMATION

Peters Properties Kent 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention, apart from where land and buildings have been revalued and measured at fair value.

Going Concern
These accounts have been prepared on a going concern basis. The director has reviewed the financial statements along with the current trading position and considers the use of the going concern basis as appropriate due to the current market conditions.

Turnover
Turnover represents rent charged excluding VAT.

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 - 20% on cost
Motor vehicles - 20% on cost

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

There were no staff costs for the year ended 31 December 2023 nor for the year ended 31 December 2022.

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

31/12/23 31/12/22
£    £   
Director's remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

31/12/23 31/12/22
£    £   
Depreciation - owned assets 487,311 9,200

6. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 2,307,724 113,000 2,420,724
Additions 639,310 - 639,310
At 31 December 2023 2,947,034 113,000 3,060,034
DEPRECIATION
At 1 January 2023 36,800 - 36,800
Charge for year 464,711 22,600 487,311
At 31 December 2023 501,511 22,600 524,111
NET BOOK VALUE
At 31 December 2023 2,445,523 90,400 2,535,923
At 31 December 2022 2,270,924 113,000 2,383,924

7. FIXED ASSET INVESTMENTS
Loans to
other
participating
interests
£   
At 1 January 2023 3,733,357
New in year 2,416,643
At 31 December 2023 6,150,000

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

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

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 26,095,566
Additions 5,119,303
At 31 December 2023 31,214,869
NET BOOK VALUE
At 31 December 2023 31,214,869
At 31 December 2022 26,095,566

The investment property was revalued for the first time upon transition to FRS 102. A valuation was carried out by an independent third party in August 2016, with the fair value determined by the appraisal of recent property transactions in the area.

The director reviewed the valuations and believe they are consistent with the market at 31 December 2022.

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2020 8,879,088
Cost 22,335,781
31,214,869

If investment properties had not been revalued they would have been included at the following historical cost:

31/12/23 31/12/22
£    £   
Cost 23,258,312 23,258,312

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 85,153 190,997
Amounts owed by group undertakings 9,200 265,592
Other debtors 1,118,969 -
Directors' loan accounts 521,855 -
VAT 65,612 336,932
Prepayments 6,634 -
1,807,423 793,521

PETERS PROPERTIES KENT LIMITED (REGISTERED NUMBER: 08245508)

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

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade creditors 117,032 53,543
Amounts owed to group undertakings 32,304,072 27,307,863
Tax - 324,398
Other creditors 279,859 278,609
Accruals and deferred income 70,986 -
32,771,949 27,964,413

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans - 2-5 years 5,946,462 -

12. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
100 Ordinary £1.00 100 100

13. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Bapchild Motoring World (Kent) Limited

Bapchild Motoring World (Kent) Limited, a fellow subsidiary, occupied premises owned by Peters Properties Kent Limited. Rents received during the period totalled £1,025,000 ( 2022: £725,000) and were fully paid at the balance sheet date.





14. ULTIMATE CONTROLLING PARTY

Mr P Waddell, a company director, is the ultimate controlling party by virtue of his shareholding in the parent company.

The company is a subsidiary undertaking of Peter Waddell Holdco Limited.

The largest group in which the results of the company are consolidated is that headed by Peter Waddell Holdco Limited, The Showroom, Lakeside Service Station, Sturry Road, Canterbury, Kent, United Kingdom, CT1 1DS. No other group financial statements include the results of the Company. The consolidated financial statements of the group is available to the public and may be obtained from the registered office.