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Registered number: 14159731









PPR LEATHERHEAD 1 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
PPR LEATHERHEAD 1 LIMITED
REGISTERED NUMBER: 14159731

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2024
2023
2023
Note
£
£
£
£

  

Current assets
  

Stocks
 4 
4,051,197
2,138,792

Debtors: amounts falling due within one year
 5 
4,907
87,195

Cash at bank and in hand
 6 
117,338
6,169

  
4,173,442
2,232,156

Creditors: amounts falling due within one year
 7 
(4,577,255)
(2,365,993)

Net current liabilities
  
 
 
(403,813)
 
 
(133,837)

Total assets less current liabilities
  
(403,813)
(133,837)

  

Net liabilities
  
(403,813)
(133,837)


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
(403,823)
(133,847)

  
(403,813)
(133,837)


Page 1

 
PPR LEATHERHEAD 1 LIMITED
REGISTERED NUMBER: 14159731
    
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 statement of income and retained earnings 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: 




................................................
N Hopkinson
Director

Date: 12 November 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
PPR LEATHERHEAD 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

PPR Leatherhead 1 Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered address is 5 Welbeck Street, London, W1G 9YQ.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the Company has adequate
resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continues to adopt the going concern basis in preparing the financial statement. 

 
2.3

Other operating income

Other operating income principally relates to rental income, such income is recognised on an accrual basis. 

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

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.

Page 3

 
PPR LEATHERHEAD 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Stocks

2024
2023
£
£

Property stock
4,051,197
2,138,792



5.


Debtors

2024
2023
£
£


Other debtors
-
74,296

Called up share capital not paid
10
10

Prepayments and accrued income
4,897
12,889

4,907
87,195



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
117,338
6,169


Page 4

 
PPR LEATHERHEAD 1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,231,384
1,246,891

Trade creditors
60
19,102

Other taxation and social security
22,786
-

Other creditors
1,217,817
1,100,000

Accruals and deferred income
105,208
-

4,577,255
2,365,993


Secured loan
The bank loan is secured by a fixed charge over the property and a floating charge over the property and undertakings of the company.

 
Page 5