REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Pensarn Properties Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 5 April 2024 |
for |
Pensarn Properties Limited |
Pensarn Properties Limited (Registered number: 04893056) |
Contents of the Financial Statements |
for the Year Ended 5 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Pensarn Properties Limited |
Company Information |
for the Year Ended 5 April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Adeilad St David's Building |
Stryd Lombard Street |
Porthmadog |
Gwynedd |
LL49 9AP |
Pensarn Properties Limited (Registered number: 04893056) |
Balance Sheet |
5 April 2024 |
5.4.24 | 5.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 6 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
Pensarn Properties Limited (Registered number: 04893056) |
Notes to the Financial Statements |
for the Year Ended 5 April 2024 |
1. | STATUTORY INFORMATION |
Pensarn Properties Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
Going concern |
The accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will continue to financially support the company for at least 12 months from the date of signature. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
Pensarn Properties Limited (Registered number: 04893056) |
Notes to the Financial Statements - continued |
for the Year Ended 5 April 2024 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 6 April 2023 |
Revaluations | (50,000 | ) |
At 5 April 2024 |
NET BOOK VALUE |
At 5 April 2024 |
At 5 April 2023 |
The Property was measured using the fair value basis on 5th April by the Director and is valued at £300,000. |
Fair value at 5 April 2024 is represented by: |
£ |
Valuation in 2018 | 140,000 |
Valuation in 2023 | 150,000 |
Valuation in 2024 | (50,000 | ) |
Cost | 60,000 |
300,000 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
5.4.24 | 5.4.23 |
£ | £ |
Trade creditors |
Amounts owed to associates | 63,380 | 64,952 |
Taxation and social security |
Other creditors |
6. | RESERVES |
Revaluation |
reserve |
£ |
At 6 April 2023 |
Revaluation | (40,500 | ) |
At 5 April 2024 |
7. | RELATED PARTY DISCLOSURES |
The Directors current account was in credit throughout the year. |
Mr W Hammond owns 100% of the shares of Pensarn Properties Limited and Knightmovers Removal & Storage Limited. |
The balance of the loan from Knightmovers Limited was £63,380 at the balance sheet date (2023: £64,952). Interest was charged on this loan at a rate of 2.25% on the average balance during the year. |