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COMPANY REGISTRATION NUMBER: 13881393
Pemberton Properties Lytham Limited
Filleted Unaudited Financial Statements
31 January 2024
Pemberton Properties Lytham Limited
Financial Statements
Year ended 31 January 2024
Contents
Page
Officers and professional advisers
1
Chartered accountant's report to the director on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
4
Pemberton Properties Lytham Limited
Officers and Professional Advisers
Director
Mr T C J Pemberton
Registered office
Riverside Offices
Second Floor
26 St. Georges Quay
Lancaster
England
LA1 1RD
Accountants
Riverside Accountancy Lancaster Limited
Chartered accountants
Second Floor, Riverside Offices
26 St George's Quay
Lancaster
LA1 1RD
Bankers
Starling Bank
1 Duval Square
London
E1 6PW
Pemberton Properties Lytham Limited
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Pemberton Properties Lytham Limited
Year ended 31 January 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pemberton Properties Lytham Limited for the year ended 31 January 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Pemberton Properties Lytham Limited. Our work has been undertaken solely to prepare for your approval the financial statements of Pemberton Properties Lytham Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pemberton Properties Lytham Limited and its director for our work or for this report.
It is your duty to ensure that Pemberton Properties Lytham Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Pemberton Properties Lytham Limited. You consider that Pemberton Properties Lytham Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Pemberton Properties Lytham Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Riverside Accountancy Lancaster Limited Chartered accountants
Second Floor, Riverside Offices 26 St George's Quay Lancaster LA1 1RD
9 October 2024
Pemberton Properties Lytham Limited
Statement of Financial Position
31 January 2024
2024
2023
(restated)
Note
£
£
Current assets
Debtors
4
2,187
941
Creditors: amounts falling due within one year
5
13,997
12,518
--------
--------
Net current liabilities
11,810
11,577
--------
--------
Total assets less current liabilities
( 11,810)
( 11,577)
--------
--------
Net liabilities
( 11,810)
( 11,577)
--------
--------
Capital and reserves
Called up share capital
7
2
2
Profit and loss account
( 11,812)
( 11,579)
--------
--------
Shareholders deficit
( 11,810)
( 11,577)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 9 October 2024 , and are signed on behalf of the board by:
Mr T C J Pemberton
Director
Company registration number: 13881393
Pemberton Properties Lytham Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Riverside Offices, Second Floor, 26 St. Georges Quay, Lancaster, LA1 1RD, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The financial statements are rounded to the nearest £1.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Debtors
2024
2023
(restated)
£
£
Trade debtors
1,632
438
Other debtors
555
503
-------
----
2,187
941
-------
----
5. Creditors: amounts falling due within one year
2024
2023
(restated)
£
£
Trade creditors
901
Other creditors
13,096
12,518
--------
--------
13,997
12,518
--------
--------
6. Prior period errors
Prior period adjustments have been included in the accounts to restate the 2023 figures to show that the bank balance in the accounts was a joint personal balance, rather than a company balance.
7. Called up share capital
Issued, called up and fully paid
2024
2023
(restated)
No.
£
No.
£
Ordinary shares of £ 1 each
2
2
2
2
----
----
----
----
8. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023 - 2).
9. Related party transactions
During the year the company received a loan from a connected party totalling £9,767.76 (2023: £9,358.71).
10. Controlling party
The company is controlled by its shareholders.