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REGISTERED NUMBER: 12441592 (England and Wales)







Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Pigbo Property Ltd

Pigbo Property Ltd (Registered number: 12441592)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 11

Pigbo Property Ltd

Company Information
for the Year Ended 29 February 2024







DIRECTORS: J J Jones
E J Jones





REGISTERED OFFICE: 13 Windermere Walk
Camberley
Surrey
GU15 1RP





REGISTERED NUMBER: 12441592 (England and Wales)





ACCOUNTANTS: PKB Accountants Limited
Chartered Certified Accountants
Beechey House
87 Church Street
Crowthorne
Berkshire
RG45 7AW

Pigbo Property Ltd (Registered number: 12441592)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 43,762 15,150
Tangible assets 5 1,763 3,102
Investment property 6 692,753 692,753
738,278 711,005

CURRENT ASSETS
Debtors 7 300 355
Cash at bank 3,167 54,207
3,467 54,562
CREDITORS
Amounts falling due within one year 8 207,051 236,860
NET CURRENT LIABILITIES (203,584 ) (182,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

534,694

528,707

CREDITORS
Amounts falling due after more than
one year

9

(460,314

)

(460,306

)

PROVISIONS FOR LIABILITIES (24,579 ) (25,202 )
NET ASSETS 49,801 43,199

Pigbo Property Ltd (Registered number: 12441592)

Balance Sheet - continued
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 10 120,606 120,606
Retained earnings 10 (70,807 ) (77,409 )
49,801 43,199

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:




J J Jones - Director



E J Jones - Director


Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Pigbo Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Other intangible assets comprise investments in Crypto-Currency. These assets are carried at cost and revalued each year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 5 years
Computer equipment - 33% on cost

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account as it includes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets, which include debtors, loans to fellow group companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the profit and loss.

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset abd substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic Financial liabilities
Basic financial liabilities, including trade and other creditors, amounts due to fellow group companies, accruals, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash at bank and on hand, deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities when applicable.

Equity Instruments
Equity instruments issued by the company are recorded at the proceeds received, net of the direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST OR VALUATION
At 1 March 2023 15,150
Additions 20,000
Revaluations 8,612
At 29 February 2024 43,762
NET BOOK VALUE
At 29 February 2024 43,762
At 28 February 2023 15,150

Cost or valuation at 29 February 2024 is represented by:

Other
intangible
assets
£   
Valuation in 2023 (19,350 )
Valuation in 2024 8,612
Cost 54,500
43,762

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 March 2023
and 29 February 2024 1,249 3,591 4,840
DEPRECIATION
At 1 March 2023 541 1,197 1,738
Charge for year 142 1,197 1,339
At 29 February 2024 683 2,394 3,077
NET BOOK VALUE
At 29 February 2024 566 1,197 1,763
At 28 February 2023 708 2,394 3,102

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 692,753
NET BOOK VALUE
At 29 February 2024 692,753
At 28 February 2023 692,753

The properties were valued by the directors at the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 300 355

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other creditors 207,051 236,860

Pigbo Property Ltd (Registered number: 12441592)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 460,314 460,306

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 460,314 460,306

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 March 2023 (77,409 ) 120,606 43,197
Profit for the year 6,602 6,602
At 29 February 2024 (70,807 ) 120,606 49,799

11. RELATED PARTY DISCLOSURES

The directors advanced £231,671 to the company, this loan is interest free and repayable on demand.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Pigbo Property Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pigbo Property Ltd for the year ended 29 February 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Pigbo Property Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pigbo Property Ltd and state those matters that we have agreed to state to the Board of Directors of Pigbo Property Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Pigbo Property Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pigbo Property Ltd. You consider that Pigbo Property Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Pigbo Property Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






PKB Accountants Limited
Chartered Certified Accountants
Beechey House
87 Church Street
Crowthorne
Berkshire
RG45 7AW


26 November 2024