Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Investment property | 4 | ||||||
Current assets | |||||||
Debtors | 5 | ||||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 6 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | |||||||
Creditors: amounts falling due after more than one year | 7 | ( |
( |
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Provisions for liabilities | ( |
- | |||||
Net assets | |||||||
Capital and reserves | |||||||
Called up share capital | |||||||
Fair value reserve | 9 | - | |||||
Profit and loss account | ( |
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Shareholders' funds | |||||||
Mr D Nutter | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the year ended |
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1 | Statutory information | |||||||
Perfect Storm Property Limited is a private company, limited by shares, registered in England and Wales. | ||||||||
The company's registered number and registered office address are as below: | ||||||||
Registered number: | 13847033 | |||||||
Registerd office: | Floor 2 Graphical House | |||||||
2 Wharf Street | ||||||||
Leeds | ||||||||
LS2 7EQ | ||||||||
The presentation currency of the financial statements is the Pound Sterling. | ||||||||
2 | Accounting policies | |||||||
Basis of preparation | ||||||||
Turnover | ||||||||
Investment property | ||||||||
Debtors | ||||||||
Creditors | ||||||||
2 | Accounting policies (continued) | |||||||
Taxation | ||||||||
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. |
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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. |
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Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. | ||||||||
3 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
4 | Investment property | |||||||
Total | ||||||||
£ | ||||||||
Fair value | ||||||||
At 1 February 2023 | ||||||||
Additions | ||||||||
Fair value gains/(losses) | ||||||||
At 31 January 2024 | ||||||||
Historical cost | ||||||||
At 1 February 2023 | 633,248 | |||||||
At 31 January 2024 | 1,448,394 | |||||||
The investment property was valued on an open market basis on 31 January 2024 by the | ||||||||
directors. | ||||||||
5 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | ||||||||
Prepayments and accrued income | - | 706 | ||||||
Directors' current account | 27,198 | - | ||||||
Other debtors | ||||||||
6 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Taxation and social security costs | ||||||||
Accruals and deferred income | 825 | 6,833 | ||||||
Other creditors | ||||||||
7 | Creditors: amounts falling due after one year | 2024 | 2023 | |||||
£ | £ | |||||||
Bank loans | ||||||||
8 | Loans | 2024 | 2023 | |||||
£ | £ | |||||||
Creditors include: | ||||||||
Instalments falling due for payment after more than five years | 845,123 | 248,360 | ||||||
Secured bank loans | 845,123 | 248,360 | ||||||
9 | Fair value reserve | 2024 | 2023 | |||||
£ | £ | |||||||
Reserve transfer | - | |||||||
At 31 January 2024 | - | |||||||
10 | Related party transactions | |||||||
Also during the year an amount of £27,198 was advanced to the directors. This amount remained outstanding at the year end. The loan is interest free and repayable on demand. |