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REGISTERED NUMBER: 13791814 (England and Wales)















ABRIDGED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

P MMXXI LIMITED

P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

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










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

ABRIDGED BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 - 9,395
Investment property 5 1,155,528 526,732
1,155,528 536,127

CURRENT ASSETS
Debtors 379,302 138,366
Cash at bank 875 -
380,177 138,366
CREDITORS
Amounts falling due within one year 1,535,160 692,565
NET CURRENT LIABILITIES (1,154,983 ) (554,199 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

545

(18,072

)

CAPITAL AND RESERVES
Called up share capital 100 1
Retained earnings 445 (18,073 )
545 (18,072 )

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.

P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

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 Statement of Income and Retained Earnings 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr B D Smith - Director


P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

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


1. STATUTORY INFORMATION

P MMXXI 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: 13791814

Registered office: The Spotted Dog
6 The Green
High Coniscliffe
Darlington
Co. Durham
DL2 2LJ

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.

Investment property
Investment property is shown at cost plus improvements and the Directors consider this to represent fair value at 31 December 2023.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

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


4. TANGIBLE FIXED ASSETS
Totals
£
COST
At 1 January 2023 9,395
Disposals (9,395 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 9,395

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 January 2023 526,732
Additions 628,796
At 31 December 2023 1,155,528
NET BOOK VALUE
At 31 December 2023 1,155,528
At 31 December 2022 526,732

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Directors Loan Account 1,534,625 682,869

The Directors loan is secured by a fixed and floating charge over the property of the Company.

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 December 2023 and the period ended 31 December 2022:

2023 2022
£ £
Mr B D Smith
Balance outstanding at start of year (682,869 ) -
Amounts advanced 66,700 1
Amounts repaid (918,456 ) (682,870 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,534,625 ) (682,869 )

P MMXXI LIMITED (REGISTERED NUMBER: 13791814)

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


8. RELATED PARTY DISCLOSURES

At the balance sheet date, O MMXXI Limited, a wholly owned subsidiary of of P MMXXI Limited in which Mr B D Smith and Mrs J Smith are Directors, owed the company £376,283 (2022: £nil). This loan is interest free.