REGISTERED NUMBER: |
PPD Properties Ltd |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
REGISTERED NUMBER: |
PPD Properties Ltd |
Unaudited Financial Statements |
for the Year Ended 29 February 2024 |
PPD Properties Ltd (Registered number: 11196837) |
Contents of the Financial Statements |
for the year ended 29 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PPD Properties Ltd |
Company Information |
for the year ended 29 February 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
250 Fowler Avenue |
Farnborough |
Hampshire |
GU14 7JP |
PPD Properties Ltd (Registered number: 11196837) |
Balance Sheet |
29 February 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 3 |
Current assets |
Debtors | 4 |
Cash in hand |
Creditors |
Amounts falling due within one year | 5 |
Net current liabilities | ( |
) | ( |
) |
Total assets less current liabilities | ( |
) |
Creditors |
Amounts falling due after more than one year |
6 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
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. |
PPD Properties Ltd (Registered number: 11196837) |
Balance Sheet - continued |
29 February 2024 |
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 |
PPD Properties Ltd (Registered number: 11196837) |
Notes to the Financial Statements |
for the year ended 29 February 2024 |
1. | Accounting policies |
Basis of preparing the financial statements |
Going concern |
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. |
Turnover |
Turnover comprises revenue recognised by the company in respect of rents receivable. |
Tangible fixed assets |
Tangible fixed assets comprise freehold property. Freehold property is not depreciated as the directors do not consider that depreciating the property will give a true and fair view of the value. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
PPD Properties Ltd (Registered number: 11196837) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
1. | Accounting policies - continued |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
2. | Employees and directors |
The average number of employees during the year was |
3. | Tangible fixed assets |
Freehold |
property |
£ |
Cost |
At 1 March 2023 |
Additions |
At 29 February 2024 |
Net book value |
At 29 February 2024 |
At 28 February 2023 |
4. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
PPD Properties Ltd (Registered number: 11196837) |
Notes to the Financial Statements - continued |
for the year ended 29 February 2024 |
5. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
6. | Creditors: amounts falling due after more than one year |
2024 | 2023 |
£ | £ |
Bank loans |
7. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
8. | Reserves |
Retained |
earnings |
£ |
At 1 March 2023 | ( |
) |
Profit for the year |
At 29 February 2024 | ( |
) |