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REGISTERED NUMBER: 09436473 (England and Wales)















P & E TRADING LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






P & E TRADING LTD (REGISTERED NUMBER: 09436473)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 7


P & E TRADING LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: P J Coon
Mrs E L Coon





REGISTERED OFFICE: c/o Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR





REGISTERED NUMBER: 09436473 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE11 3YR

P & E TRADING LTD (REGISTERED NUMBER: 09436473)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 457,833 191,145
Investments 5 301,530 301,530
Investment property 6 2,973,000 2,672,000
3,732,363 3,164,675

CURRENT ASSETS
Debtors 7 25,011 11,747
Cash at bank 164,870 165,518
189,881 177,265
CREDITORS
Amounts falling due within one year 8 738,747 793,182
NET CURRENT LIABILITIES (548,866 ) (615,917 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,183,497 2,548,758

CREDITORS
Amounts falling due after more than one year 9 (343,946 ) (352,858 )

PROVISIONS FOR LIABILITIES (221,797 ) (159,185 )
NET ASSETS 2,617,754 2,036,715

CAPITAL AND RESERVES
Called up share capital 11 2 2
Revaluation reserve 12 522,449 408,069
Retained earnings 2,095,303 1,628,644
SHAREHOLDERS' FUNDS 2,617,754 2,036,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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 & E TRADING LTD (REGISTERED NUMBER: 09436473)

STATEMENT OF FINANCIAL POSITION - continued
31 MAY 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 Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by:





P J Coon - Director


P & E TRADING LTD (REGISTERED NUMBER: 09436473)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

P & E Trading 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
Investment income is recognised at the date the company is entitled to that income.

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 etc - 25% on reducing balance, 5% on cost and 4% on cost


Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in associates
Investments in associate undertakings are recognised at 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 a revaluation reserve.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.


P & E TRADING LTD (REGISTERED NUMBER: 09436473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 202,111
Additions 308,881
At 31 May 2024 510,992
DEPRECIATION
At 1 June 2023 10,966
Charge for year 42,193
At 31 May 2024 53,159
NET BOOK VALUE
At 31 May 2024 457,833
At 31 May 2023 191,145

5. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 June 2023
and 31 May 2024 301,530
NET BOOK VALUE
At 31 May 2024 301,530
At 31 May 2023 301,530

P & E TRADING LTD (REGISTERED NUMBER: 09436473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,672,000
Additions 148,493
Revaluations 152,507
At 31 May 2024 2,973,000
NET BOOK VALUE
At 31 May 2024 2,973,000
At 31 May 2023 2,672,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 2,973,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,276,400 2,127,907

Investment property was valued on an open market basis on 31 May 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,861 3,309
Other debtors 16,150 8,438
25,011 11,747

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 148,520
Hire purchase contracts 8,912 8,912
Trade creditors 5,592 1,878
Amounts owed to participating interests 721,603 627,662
Other creditors 2,640 6,210
738,747 793,182

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 270,020 270,020
Hire purchase contracts 73,926 82,838
343,946 352,858

P & E TRADING LTD (REGISTERED NUMBER: 09436473)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 270,020 270,020

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 270,019 418,539

All mortgages are interest only that are due to be repaid in 20 years after drawdown.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

12. RESERVES
Revaluation
reserve
£   
At 1 June 2023 408,069
Revaluation in year 152,507
Deferred tax (38,127 )

At 31 May 2024 522,449

13. RELATED PARTY DISCLOSURES

At the end of the year the directors owed the company £826 (2023: £3,525).

During the year, dividends totalling £545,000 (2023: £350,000) were received from a company under the common control. At the end of the year a company under common control was owed £721,603 (2023: £627,661)

14. ULTIMATE CONTROLLING PARTY

P J and Mrs E Coon jointly control the entity.