Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31property investment, management and development2023-04-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03512799 2023-04-01 2024-03-31 03512799 2022-04-01 2023-03-31 03512799 2024-03-31 03512799 2023-03-31 03512799 2022-04-01 03512799 c:Director1 2023-04-01 2024-03-31 03512799 d:CurrentFinancialInstruments 2024-03-31 03512799 d:CurrentFinancialInstruments 2023-03-31 03512799 d:Non-currentFinancialInstruments 2024-03-31 03512799 d:Non-currentFinancialInstruments 2023-03-31 03512799 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03512799 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03512799 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03512799 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03512799 d:ShareCapital 2024-03-31 03512799 d:ShareCapital 2023-03-31 03512799 d:InvestmentPropertiesRevaluationReserve 2024-03-31 03512799 d:InvestmentPropertiesRevaluationReserve 2023-03-31 03512799 d:RetainedEarningsAccumulatedLosses 2024-03-31 03512799 d:RetainedEarningsAccumulatedLosses 2023-03-31 03512799 c:OrdinaryShareClass1 2023-04-01 2024-03-31 03512799 c:OrdinaryShareClass1 2024-03-31 03512799 c:OrdinaryShareClass2 2023-04-01 2024-03-31 03512799 c:OrdinaryShareClass2 2024-03-31 03512799 c:FRS102 2023-04-01 2024-03-31 03512799 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03512799 c:FullAccounts 2023-04-01 2024-03-31 03512799 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03512799 6 2023-04-01 2024-03-31 03512799 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03512799 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03512799 d:OtherDeferredTax 2024-03-31 03512799 d:OtherDeferredTax 2023-03-31 03512799 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03512799









PIGEON HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PIGEON HOLDINGS LIMITED
REGISTERED NUMBER: 03512799

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Investments
 4 
800,538
800,708

  
800,538
800,708

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
4,206,739
6,185,597

Cash at bank and in hand
  
1,901,523
10,158

  
6,108,262
6,195,755

Creditors: amounts falling due within one year
 6 
(4,678,403)
(4,675,632)

NET CURRENT ASSETS
  
 
 
1,429,859
 
 
1,520,123

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,230,397
2,320,831

Creditors: amounts falling due after more than one year
 7 
(4,000)
(7,200)

PROVISIONS FOR LIABILITIES
  

Deferred tax
 8 
(279,775)
(277,543)

  
 
 
(279,775)
 
 
(277,543)

NET ASSETS
  
1,946,622
2,036,088


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Investment property reserve
  
900,000
900,000

Profit and loss account
  
1,046,522
1,135,988

  
1,946,622
2,036,088


Page 1

 
PIGEON HOLDINGS LIMITED
REGISTERED NUMBER: 03512799
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






R B Stanton
Director

Date: 13 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
PIGEON HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Pigeon Holdings Limited is a private limited company incorporated in England and Wales. Its registered office is Salisbury House, Station Road, Cambridge, CB1 2LA. 
The principal place of business is Linden Square, 146 Kings Road, Bury St Edmunds, Suffolk, IP33 3DJ. 
The Company's functional and presentational currency is GBP.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.

 
2.3

VALUATION OF INVESTMENTS

Investments in subsidiaries and associates are measured at cost less accumulated impairment.

 
2.4

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.6

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3

 
PIGEON HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


EMPLOYEES

The Company has no employees other than the directors, who did not receive any remuneration (2023 - £NIL).

Page 4

 
PIGEON HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


FIXED ASSET INVESTMENTS





Investments in subsidiary companies
Investments in associates
Total

£
£
£



COST OR VALUATION


At 1 April 2023
708
800,000
800,708


Disposals
(170)
-
(170)



At 31 March 2024
538
800,000
800,538






NET BOOK VALUE



At 31 March 2024
538
800,000
800,538



At 31 March 2023
708
800,000
800,708


5.


DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£


Trade debtors
489
-

Amounts owed by group undertakings
589,636
524,981

Other debtors
3,616,085
5,660,616

Prepayments and accrued income
529
-

4,206,739
6,185,597


Page 5

 
PIGEON HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank loans
3,200
3,200

Trade creditors
945,941
375,061

Amounts owed to group undertakings
3,149,622
3,157,341

Other creditors
569,768
324,067

Accruals and deferred income
9,872
815,963

4,678,403
4,675,632


Bank loans represents a Government backed 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest was charged at 2.5% per annum. 


7.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
4,000
7,200


Bank loans represents a Government backed 'bounce back' loan, which was drawn down in July 2020. This loan is 100% guaranteed by the Government and there were no fees or interest payable by the Company in the first 12 months. After this 12 month period, interest was charged at 2.5% per annum. 

Page 6

 
PIGEON HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
277,543
274,961


Charged to profit or loss
2,232
2,582



AT END OF YEAR
279,775
277,543

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,225)
(22,457)

Unrealised gain on investment property held in joint venture LLPs
300,000
300,000

279,775
277,543


9.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



50 (2023 - 100) Ordinary shares of £1 each
50
100
50 (2023 - Nil) A Ordinary shares of £1 each
50
-

100

100

On 29 November 2023, 50 Ordinary shares fo £1 were redesignated as 50 A Ordinary shares fo £1. 


 
Page 7