0 28/02/2023 27/02/2024 2024-02-27 false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2023-02-28 Sage Accounts Production 24.0 - FRS102_2024 xbrli:pure xbrli:shares iso4217:GBP 10019416 2023-02-28 2024-02-27 10019416 2024-02-27 10019416 2023-02-27 10019416 2022-02-28 2023-02-27 10019416 2023-02-27 10019416 2022-02-27 10019416 core:PlantMachinery 2023-02-28 2024-02-27 10019416 core:FurnitureFittingsToolsEquipment 2023-02-28 2024-02-27 10019416 bus:RegisteredOffice 2023-02-28 2024-02-27 10019416 bus:LeadAgentIfApplicable 2023-02-28 2024-02-27 10019416 bus:Director1 2023-02-28 2024-02-27 10019416 bus:Director2 2023-02-28 2024-02-27 10019416 bus:CompanySecretary1 2023-02-28 2024-02-27 10019416 core:PlantMachinery 2023-02-27 10019416 core:FurnitureFittingsToolsEquipment 2023-02-27 10019416 core:LandBuildings core:OwnedOrFreeholdAssets 2024-02-27 10019416 core:PlantMachinery 2024-02-27 10019416 core:FurnitureFittingsToolsEquipment 2024-02-27 10019416 core:WithinOneYear 2024-02-27 10019416 core:WithinOneYear 2023-02-27 10019416 core:AfterOneYear 2024-02-27 10019416 core:AfterOneYear 2023-02-27 10019416 core:ShareCapital 2024-02-27 10019416 core:ShareCapital 2023-02-27 10019416 core:RetainedEarningsAccumulatedLosses 2024-02-27 10019416 core:RetainedEarningsAccumulatedLosses 2023-02-27 10019416 core:LandBuildings core:OwnedOrFreeholdAssets 2023-02-27 10019416 core:PlantMachinery 2023-02-27 10019416 core:FurnitureFittingsToolsEquipment 2023-02-27 10019416 bus:SmallEntities 2023-02-28 2024-02-27 10019416 bus:AuditExempt-NoAccountantsReport 2023-02-28 2024-02-27 10019416 bus:SmallCompaniesRegimeForAccounts 2023-02-28 2024-02-27 10019416 bus:PrivateLimitedCompanyLtd 2023-02-28 2024-02-27 10019416 bus:FullAccounts 2023-02-28 2024-02-27 10019416 core:WithinOneYear 2023-02-28 2024-02-27 10019416 core:AfterOneYear 2023-02-28 2024-02-27
Company registration number: 10019416
P & L Estates Limited
Unaudited filleted financial statements
27 February 2024
P & L Estates Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
P & L Estates Limited
Directors and other information
Directors Mrs Lisa Diane Alkins
Mr Paul Alkins
Secretary Lisa Diane Alkins
Company number 10019416
Registered office 29 Chancery Lane
Alsager
Stoke-on-Trent
Staffordshire
ST7 2HE
Business address 29 Chancery Lane
Alsager
Stoke-on-Trent
Staffordshire
ST7 2HE
Accountants Everyday Accounting (Cheshire) Limited
3B Crewe Road
Alsager
Stoke-on-Trent
Staffordshire
ST7 2EW
P & L Estates Limited
Statement of financial position
27 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 360,796 360,983
_______ _______
360,796 360,983
Current assets
Debtors 6 14,200 15,443
Cash at bank and in hand 2,818 3,994
_______ _______
17,018 19,437
Creditors: amounts falling due
within one year 7 ( 178,326) ( 189,075)
_______ _______
Net current liabilities ( 161,308) ( 169,638)
_______ _______
Total assets less current liabilities 199,488 191,345
Creditors: amounts falling due
after more than one year 8 ( 234,253) ( 235,769)
Provisions for liabilities ( 130) ( 166)
_______ _______
Net liabilities ( 34,895) ( 44,590)
_______ _______
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account ( 36,895) ( 46,590)
_______ _______
Shareholders deficit ( 34,895) ( 44,590)
_______ _______
For the year ending 27 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 27 February 2024 , and are signed on behalf of the board by:
Mrs Lisa Diane Alkins Mr Paul Alkins
Director Director
Company registration number: 10019416
P & L Estates Limited
Notes to the financial statements
Year ended 27 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 Chancery Lane, Alsager, Stoke-on-Trent, Staffordshire, ST7 2HE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard appicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period.Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted at the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 0 (2023: 0 ).
5. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 28 February 2023 and 27 February 2024 360,110 1,225 779 362,114
_______ _______ _______ _______
Depreciation
At 28 February 2023 - 598 533 1,131
Charge for the year - 125 62 187
_______ _______ _______ _______
At 27 February 2024 - 723 595 1,318
_______ _______ _______ _______
Carrying amount
At 27 February 2024 360,110 502 184 360,796
_______ _______ _______ _______
At 27 February 2023 360,110 627 246 360,983
_______ _______ _______ _______
Investment property
Included within the above is investment property measured at fair value as follows:
£
At 28 February 2023 and 27 February 2024 360,110
_______
6. Debtors
2024 2023
£ £
Other debtors 14,200 15,443
_______ _______
The debtors above include the following amounts falling due after more than one year:
2024 2023
£ £
Other debtors 10,486 12,809
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 1,504 1,468
Trade creditors 188 438
Other creditors 176,634 187,169
_______ _______
178,326 189,075
_______ _______
Bank loans and overdrafts of £1,504 (2023 : £1,468) are secured by a fixed and floating charge on the assets of the company.
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 234,253 235,769
_______ _______
Bank loans and overdrafts of £234,253 (2023 : £235,769) are secured by a fixed and floating charge on the assets of the company.
Included within creditors: amounts falling due after more than one year is an amount of £ 232,008(2023 £ 232,010 ) in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.