REGISTERED NUMBER: |
PITAMBER LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
REGISTERED NUMBER: |
PITAMBER LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2024 |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PITAMBER LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 January 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
5 Imperial Court |
Laporte Way |
Luton |
Bedfordshire |
LU4 8FE |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
STATEMENT OF FINANCIAL POSITION |
31 January 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up, paid and allotted share capital |
Other reserves | 10 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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. |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
STATEMENT OF FINANCIAL POSITION - continued |
31 January 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Pitamber Limited 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. |
The presentation currency of the financial statements is the Pound Sterling, rounded to the nearest pound. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors have prepared the accounts on the going concern basis which is considered appropriate by them as they will continue to financially support the company through their directors loans to the company. |
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 |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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. |
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
Income recognition |
Rental income is recognised when it falls due under its short leasehold tenancy agreements with tenants. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 February 2023 |
and 31 January 2024 |
NET BOOK VALUE |
At 31 January 2024 |
At 31 January 2023 |
Investment property was valued on an open market value basis at 31 January 2024 by the directors. |
If investment property had not been revalued they would have been included at historical cost totalling £554,332. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans over 5 years |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
PITAMBER LIMITED (REGISTERED NUMBER: 05329079) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 January 2024 |
10. | RESERVES |
Retained | Other |
earnings | reserves | Totals |
£ | £ | £ |
At 1 February 2023 | 252,293 |
Deficit for the year | ( |
) | ( |
) |
Transfer | 7,013 | (7,013 | ) | - |
At 31 January 2024 | 246,589 |
11. | RELATED PARTY DISCLOSURES |
The directors operate a loan account with the company which is unsecured, interest free and repayable on demand. During the year, additional loans in aggregate of £6,199 were provided by the directors. At the year end the directors were owed £220,175. |