Company registration number 13797504 (England and Wales)
PICKWELL PROPERTY INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
PICKWELL PROPERTY INVESTMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
PICKWELL PROPERTY INVESTMENTS LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
279,728
279,128
Current assets
Debtors
4
1,400
1,894
Cash at bank and in hand
922
321
2,322
2,215
Creditors: amounts falling due within one year
5
(88,259)
(85,223)
Net current liabilities
(85,937)
(83,008)
Total assets less current liabilities
193,791
196,120
Creditors: amounts falling due after more than one year
6
(198,750)
(198,750)
Net liabilities
(4,959)
(2,630)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(5,059)
(2,730)
Total equity
(4,959)
(2,630)
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 31 October 2024 and are signed on its behalf by:
Mr S P Baker
Mr R I Elliott
Director
Director
Company registration number 13797504 (England and Wales)
PICKWELL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Pickwell Property Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Pickwell Manor, Georgeham, Braunton, Devon, EX33 1LA.
1.1
Reporting period
The comparative accounting period reflects a period of 13 months. The comparative amounts presented in the financial statements (including the related notes) are therefore not directly comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.
1.3
Going concern
The company meets its day to day working capital requirements through continued financial support from its directors and the borrowing facilities provided by the company's loan provider.
On the basis of continued support from the directors and the advance of the borrowings from the lender, the board consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the loans.
1.4
Turnover
Turnover is recognised at the fair value of consideration received or receivable for services provided in the normal course of business.
1.5
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
PICKWELL PROPERTY INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
3
Investment property
2024
£
Fair value
At 1 February 2023
279,128
Additions
600
At 31 January 2024
279,728
Investment property comprises one property. The fair value of the property has been assessed by the directors at the period end taking into account current market conditions.
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,400
1,000
Deferred tax asset
894
1,400
1,894
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,588
63
Other creditors
86,671
85,160
88,259
85,223
Included within Other creditors is a balance of £74,900 (2023 - £74,900) owed to the directors.
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
198,750
198,750
The loan facility is secured through a charge over the investment property held by the company.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable other than by instalments
198,750
198,750