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REGISTERED NUMBER: 11263585 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Pleasant Retreat Properties Limited

Pleasant Retreat Properties Limited (Registered number: 11263585)






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


Pleasant Retreat Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: L K Jones
Mrs A Jones





REGISTERED OFFICE: 21 Gold Tops
Newport
South Wales
NP20 4PG





REGISTERED NUMBER: 11263585 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Pleasant Retreat Properties Limited (Registered number: 11263585)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 1,906,750 1,900,000

CURRENT ASSETS
Debtors 6 435,581 433,550
Cash at bank and in hand 5,177 47,908
440,758 481,458
CREDITORS
Amounts falling due within one year 7 555,838 597,690
NET CURRENT LIABILITIES (115,080 ) (116,232 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,791,670

1,783,768

CREDITORS
Amounts falling due after more than one
year

8

1,248,023

1,249,878
NET ASSETS 543,647 533,890

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 491,461 491,461
Retained earnings 52,086 42,329
SHAREHOLDERS' FUNDS 543,647 533,890

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 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.

Pleasant Retreat Properties Limited (Registered number: 11263585)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2024 and were signed on its behalf by:




L K Jones - Director



Mrs A Jones - Director


Pleasant Retreat Properties Limited (Registered number: 11263585)

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

1. STATUTORY INFORMATION

Pleasant Retreat Properties Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 11263585 and the address of its registered office is 21 Gold Tops, Newport, South Wales, NP20 4PG.

The nature of the company's operations and principal activity is that of property investment.

These financial statements are the company's separate financial statements, covering the period to 31 March 2024 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

The individual financial statements of Pleasant Retreat Properties Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Investment property is carried at fair value determined by the directors 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 the profit and loss account.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Pleasant Retreat Properties Limited (Registered number: 11263585)

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

3. ACCOUNTING POLICIES - continued
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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 1,900,000
Additions 6,750
At 31 March 2024 1,906,750
NET BOOK VALUE
At 31 March 2024 1,906,750
At 31 March 2023 1,900,000

The director valued the investment property on a fair value basis as at 31 March 2024.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2000 658,641
Valuation in 2021 135,000
Valuation in 2022 (953 )
Valuation in 2023 (301,227 )
Cost 1,415,289
1,906,750

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 435,581 433,550

Pleasant Retreat Properties Limited (Registered number: 11263585)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 20,000 20,000
Taxation and social security 2,289 9,339
Other creditors 533,549 568,351
555,838 597,690

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 1,248,023 1,249,878

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,248,023 1,249,878

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,248,023 1,249,878

The bank loans are secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

The bank loans are interest only loans, payable over a duration of 12, 15 and 16 years, at an interest rate of 3.34% and 3.79%.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

Pleasant Retreat Properties Limited (Registered number: 11263585)

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

11. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 491,461

12. RELATED PARTY DISCLOSURES

At the year end, £294,936 (2023:£332,384) was owed to those individuals holding a participating interest.

At the year end, the company was owed £434,697 (2023:£433,091) by entities holding a participating interest.

There is no fixed repayment date on these outstanding amounts and no interest has been charged.