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REGISTERED NUMBER: 10406679 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Providence Place Investments Ltd

Providence Place Investments Ltd (Registered number: 10406679)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Providence Place Investments Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: M C Oakton





REGISTERED OFFICE: 182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ





REGISTERED NUMBER: 10406679 (England and Wales)





ACCOUNTANTS: Attwoods
Chartered Certified Accountants
182 Worcester Road
Bromsgrove
Worcestershire
B61 7AZ

Providence Place Investments Ltd (Registered number: 10406679)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 605,000 390,000

CURRENT ASSETS
Debtors 5 621 408
Cash at bank 113,622 3,420
114,243 3,828
CREDITORS
Amounts falling due within one year 6 127,749 54,460
NET CURRENT LIABILITIES (13,506 ) (50,632 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

591,494

339,368

CREDITORS
Amounts falling due after more than one
year

7

(376,604

)

(185,002

)

PROVISIONS FOR LIABILITIES (53,723 ) (39,484 )
NET ASSETS 161,167 114,882

CAPITAL AND RESERVES
Called up share capital 1 1
Revaluation reserve 8 185,756 126,930
Retained earnings (24,590 ) (12,049 )
SHAREHOLDERS' FUNDS 161,167 114,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Providence Place Investments Ltd (Registered number: 10406679)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 October 2024 and were signed by:





M C Oakton - Director


Providence Place Investments Ltd (Registered number: 10406679)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Providence Place Investments Ltd 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. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Providence Place Investments Ltd (Registered number: 10406679)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 390,000
Additions 136,565
Revaluations 78,435
At 31 March 2024 605,000
NET BOOK VALUE
At 31 March 2024 605,000
At 31 March 2023 390,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2021 87,385
Valuation in 2022 15,000
Valuation in 2023 66,855
Valuation in 2024 78,435
Cost 357,325
605,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 621 408

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 41,331 4,130
Owed to companies under common control 85,818 50,000
Other creditors 600 330
127,749 54,460

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 260,100 110,399
Other creditors 116,504 74,603
376,604 185,002

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 260,100 62,537

Providence Place Investments Ltd (Registered number: 10406679)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. RESERVES
Revaluation
reserve
£   
At 1 April 2023 126,930
Revaluations 78,435
Deferred tax on unrealised gains (19,609 )

At 31 March 2024 185,756