Registered number
09869272
PELLEMUR LTD
Unaudited Filleted Abridged Accounts
29 February 2024
PELLEMUR LTD
Registered number: 09869272
Abridged Balance Sheet
as at 29 February 2024
Notes 2024 2022
£ £
Fixed assets
Tangible assets 3 - 934,908
Current assets
Debtors 1,217 15,316
Cash at bank and in hand 5,768 15,637
6,985 30,953
Creditors: amounts falling due within one year (4,200) (552,334)
Net current assets/(liabilities) 2,785 (521,381)
Total assets less current liabilities 2,785 413,527
Provisions for liabilities - (79,048)
Net assets 2,785 334,479
Capital and reserves
Called up share capital 100 100
Revaluation reserve 5 - 212,305
Profit and loss account 2,685 122,074
Shareholders' funds 2,785 334,479
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and the provisions of FRS102 Section 1A - small entities. The profit and loss account has not been delivered to the Registrar of Companies.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.
Mrs R S Steer
Director
Approved by the board on 27 November 2024
PELLEMUR LTD
Notes to the Abridged Accounts
for the period from 1 December 2022 to 29 February 2024
1 Accounting policies
Basis of preparation
The abridged accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment properties
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 and condition of the specific asset.
Changes in fair value are recognised in the Profit and Loss account.
Tangible fixed assets
Tangible fixed assets other than investment properties are measured at cost less accumulative depreciation and any accumulative impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life.
The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss account.
Depreciation is provided as follows:
Plant, machinery and equipment over 5-15 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Cash and cash equivalents
Cash is represented by cash in hand and deposits held 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.
Taxation
The tax expense for the year comprises of current and deferred tax.
Tax is recognised in the Profit and Loss account, except that a charge is attributable to an item of income or expense recognised as other comprehensive income, in which case the tax is also recognised as other comprehensive income.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments.
Unrelieved tax losses and other deferred tax assets are recognised only 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 by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property held for sale where the tax rate that is expected to apply on the sale of the asset is used.
Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Total
£
Cost
At 1 December 2022 959,148
Disposals (959,148)
At 29 February 2024 -
Depreciation
At 1 December 2022 24,240
On disposals (24,240)
At 29 February 2024 -
Net book value
At 29 February 2024 -
At 30 November 2022 934,908
If the investment properties (including integral features) had been accounted for under the historic
cost accounting rules, the properties would have been measured as follows:
Freehold land and buildings: 2024 2022
£ £
Historical cost - 631,823
Cumulative depreciation based on historical cost - 14,897
- 616,926
4 Loans 2024 2022
£ £
Creditors include:
Secured bank loans - 74,000
Loans were secured via fixed charges against the property to which they relate and via floating charges covering all the property or undertaking of the company.
5 Revaluation reserve 2024 2022
£ £
At 1 December 2022 212,305 210,709
Gain on revaluation of land and buildings - 2,128
Deferred taxation arising on the revaluation of land and buildings - (532)
Transfer to profit and loss reserve (212,305)
At 29 February 2024 - 212,305
6 Other information
PELLEMUR LTD is a private company limited by shares and incorporated in England. Its registered office is:
Tanglewood South End
Preston Bissett
Buckingham
MK18 4LR
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