Company No:
Contents
DIRECTORS | D G Burt |
L V Hayward | |
S J O Isaac-Bore |
SECRETARY | D G Burt |
REGISTERED OFFICE | 22 Chancery Lane |
London | |
WC2A 1LS | |
United Kingdom |
COMPANY NUMBER | 01377455 (England and Wales) |
The directors present their annual report and the unaudited financial statements of the company for the financial year ended 30 June 2024.
DIRECTORS
The directors, who served during the financial year and to the date of this report except as noted, were as follows:
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Approved by the Board of Directors and signed on its behalf by:
D G Burt
Director |
2024 | 2023 | |||
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Administrative expenses | (
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Operating loss | (
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Income from shares in a Group undertaking |
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Income from other fixed asset investments |
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Other non-operating income/(loss) | 3 |
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Profit before interest and taxation | 1,208,146 | 219,195 | ||
Interest receivable and similar income |
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Profit before taxation |
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Tax on profit | 4 | (
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Profit for the financial year |
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2024 | 2023 | |||
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Profit for the financial year |
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Other comprehensive income | 0 | 0 | ||
Total comprehensive income for the financial year |
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Note | 2024 | 2023 | ||
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Fixed assets | ||||
Investments | 5 |
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12,994,197 | 12,185,380 | |||
Current assets | ||||
Debtors | 6 |
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Cash at bank and in hand |
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256,455 | 305,066 | |||
Creditors: amounts falling due within one year | 7 | (
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Net current assets | 211,075 | 282,410 | ||
Total assets less current liabilities | 13,205,272 | 12,467,790 | ||
Provision for liabilities | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Share premium account |
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Capital redemption reserve |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Poole Properties Limited (registered number:
D G Burt
Director |
Called-up share capital | Share premium account | Capital redemption reserve | Profit and loss account | Total | |||||
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At 01 July 2022 |
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Profit for the financial year |
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Total comprehensive income |
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Dividends paid on equity shares |
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At 30 June 2023 |
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At 01 July 2023 |
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Profit for the financial year |
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Total comprehensive income |
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Dividends paid on equity shares |
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At 30 June 2024 |
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The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Poole Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 22 Chancery Lane, London, WC2A 1LS, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generate taxable income.
Deferred tax
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that they net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Financial instruments are classified and accounted for, accoridng to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in subsidiary undertakings are recognised at cost less any provision for impairment.
Interim dividends to the company's shareholders are recognised once they are paid. Final dividends to the company's shareholders are recognised in the reporting period in which the dividends are approved by the shareholders.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the company during the year, including directors |
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2024 | 2023 | ||
£ | £ | ||
Gain/(loss) on disposals of listed investments | 26,571 | (152,618) | |
Gain/(loss) on revaluation of listed investments at fair value through profit or loss | 716,180 | (254,655) | |
742,751 | (407,273) |
As shown on page 3 of the financial statements, there is a taxation expense for the year of £205,617. This includes a charge to corporation tax of £38,871, which is the tax due on taxable investment income and gains. There is also a charge of £166,746, which represents the increase in the deferred tax liability being an estimate of the corporation tax payable on a notional disposal of the investment portfolio at its year-end value.
Investments in subsidiaries
2024 | |
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Cost | |
At 01 July 2023 |
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At 30 June 2024 |
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Carrying value at 30 June 2024 |
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Carrying value at 30 June 2023 |
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Listed investments | Total | ||
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Cost or valuation before impairment | |||
At 01 July 2023 |
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Additions |
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Disposals | (
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Movement in fair value |
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At 30 June 2024 |
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Carrying value at 30 June 2024 |
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Carrying value at 30 June 2023 |
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2024 | 2023 | ||
£ | £ | ||
Prepayments |
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Other taxation and social security |
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2024 | 2023 | ||
£ | £ | ||
Amounts owed to group undertakings |
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Corporation tax |
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Other creditors |
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