Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity33falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07797969 2023-01-01 2023-12-31 07797969 2022-01-01 2022-12-31 07797969 2023-12-31 07797969 2022-12-31 07797969 c:Director1 2023-01-01 2023-12-31 07797969 d:ComputerEquipment 2023-01-01 2023-12-31 07797969 d:ComputerEquipment 2023-12-31 07797969 d:ComputerEquipment 2022-12-31 07797969 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 07797969 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 07797969 d:FreeholdInvestmentProperty 2023-12-31 07797969 d:FreeholdInvestmentProperty 2022-12-31 07797969 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 07797969 d:CurrentFinancialInstruments 2023-12-31 07797969 d:CurrentFinancialInstruments 2022-12-31 07797969 d:Non-currentFinancialInstruments 2023-12-31 07797969 d:Non-currentFinancialInstruments 2022-12-31 07797969 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 07797969 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 07797969 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 07797969 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 07797969 d:ShareCapital 2023-12-31 07797969 d:ShareCapital 2022-12-31 07797969 d:InvestmentPropertiesRevaluationReserve 2023-12-31 07797969 d:InvestmentPropertiesRevaluationReserve 2022-12-31 07797969 d:RetainedEarningsAccumulatedLosses 2023-12-31 07797969 d:RetainedEarningsAccumulatedLosses 2022-12-31 07797969 c:FRS102 2023-01-01 2023-12-31 07797969 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 07797969 c:FullAccounts 2023-01-01 2023-12-31 07797969 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 07797969 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 07797969







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


PNH PROPERTY LETCHWORTH LIMITED






































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PNH PROPERTY LETCHWORTH LIMITED
REGISTERED NUMBER:07797969



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,114
1,547

Investment property
 5 
4,675,000
4,783,879

  
4,676,114
4,785,426

Current assets
  

Debtors: amounts falling due within one year
 6 
3,745,788
3,516,633

Cash at bank and in hand
  
42,274
52,210

  
3,788,062
3,568,843

Creditors: amounts falling due within one year
 7 
(336,571)
(806,721)

Net current assets
  
 
 
3,451,491
 
 
2,762,122

Total assets less current liabilities
  
8,127,605
7,547,548

Creditors: amounts falling due after more than one year
 8 
(5,877,390)
(5,809,617)

Provisions for liabilities
  

Deferred tax
  
(85,280)
(33,370)

  
 
 
(85,280)
 
 
(33,370)

Net assets
  
2,164,935
1,704,561


Capital and reserves
  

Called up share capital 
  
100
100

Investment property fair value
  
255,841
142,260

Profit and loss account
  
1,908,994
1,562,201

  
2,164,935
1,704,561


Page 1

 


PNH PROPERTY LETCHWORTH LIMITED
REGISTERED NUMBER:07797969


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
N S Grainger
Director

Date: 4 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

1.


General information

PNH Property Letchworth 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.
The presentation currency of the financial statements is the Pound Sterling (£). 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

  
2.2

Revenue

Rental income is recognised on a straight-line basis over the year in which the rental relates.

 
2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.6

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).

Page 4

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
1,732



At 31 December 2023

1,732



Depreciation


At 1 January 2023
185


Charge for the year on owned assets
433



At 31 December 2023

618



Net book value



At 31 December 2023
1,114



At 31 December 2022
1,547

Page 5

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
4,783,879


Disposals
(450,000)


Surplus on revaluation
341,121



At 31 December 2023
4,675,000

The 2023 valuations were made by an external valuer in March 2022, on an open market value for existing use basis.





6.


Debtors

2023
2022
£
£


Amounts owed by connected undertakings
3,480,000
3,500,000

Other debtors
265,788
16,633

3,745,788
3,516,633


Page 6

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
50,000
50,000

Trade creditors
209
3,307

Corporation tax
88,850
38,717

Other creditors
195,412
712,997

Accruals and deferred income
2,100
1,700

336,571
806,721


The following liabilities were secured:

2023
2022
£
£



Bank loans
50,000
50,000

50,000
50,000

Details of security provided:

Bank loans are secured by way of a fixed and floating charge over the assets of the company.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
2,780,000
2,830,000

Other loans
3,097,390
2,979,617

5,877,390
5,809,617


The following liabilities were secured:

2023
2022
£
£



Bank loans
2,780,000
2,830,000

2,780,000
2,830,000

Details of security provided:

Bank loans are secured by way of a fixed and floating charge over the assets of the company.

Page 7

 


PNH PROPERTY LETCHWORTH LIMITED
 


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

9.


Related party transactions

At the balance sheet date the company owed £195,000 (2022: £195,000) to the directors. The balance can be found within creditors due within one year. No interest is being charged on this loan.
Included within debtors is an amount of £3,480,000 (2022: £3,500,000) due from a connected undertaking. Interest is charged on the loan.

 
Page 8