REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2024 |
for |
Pebbles Real Estate Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 28 February 2024 |
for |
Pebbles Real Estate Limited |
Pebbles Real Estate Limited (Registered number: 11560463) |
Contents of the Financial Statements |
for the year ended 28 February 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Pebbles Real Estate Limited |
Company Information |
for the year ended 28 February 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Datum House |
Electra Way |
Crewe |
Cheshire |
CW1 6ZF |
Pebbles Real Estate Limited (Registered number: 11560463) |
Balance Sheet |
28 February 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
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. |
Pebbles Real Estate Limited (Registered number: 11560463) |
Balance Sheet - continued |
28 February 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Pebbles Real Estate Limited (Registered number: 11560463) |
Notes to the Financial Statements |
for the year ended 28 February 2024 |
1. | STATUTORY INFORMATION |
Pebbles Real Estate Limited ('The Company') is a property investment company. |
The company is a private company limited by shares and is incorporated in England and Wales. The address of the registered office is Datum House, Electra Way, Crewe, Cheshire, CW1 6ZF and the registered number is 11560463. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Summary of significant accounting policies |
The principal accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented, unless otherwise stated. |
Basis of preparation |
The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. |
Going concern |
No other material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the director. |
On this basis the director considers it appropriate to prepare the financial statements on the going concern basis. |
Revenue recognition |
Revenue represents rental income receivable on investment properties. |
Tangible fixed assets |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investment property |
Investment properties are shown at fair value, the fair value is reviewed annually by the directors. Any aggregate surplus or deficit arising from changes in the fair value in the year is recognised in the profit or loss within the Statement of Comprehensive Income. |
Fixed asset investments |
Unlisted investments are shown at cost less any impairment loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Pebbles Real Estate Limited (Registered number: 11560463) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Operating lease commitments |
Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 March 2023 |
and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
Pebbles Real Estate Limited (Registered number: 11560463) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1 March 2023 |
and 28 February 2024 |
DEPRECIATION |
At 1 March 2023 |
Charge for year |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 March 2023 |
and 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
7. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2023 |
Disposals | ( |
) |
Revaluations | 142,991 |
At 28 February 2024 |
NET BOOK VALUE |
At 28 February 2024 |
At 28 February 2023 |
Fair value at 28 February 2024 is represented by: |
£ |
Valuation in 2024 | 5,862,634 |
Pebbles Real Estate Limited (Registered number: 11560463) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2024 |
7. | INVESTMENT PROPERTY - continued |
If the investment properties had not been revalued they would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 5,495,087 | 5,613,912 |
8. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Prepayments and accrued income |
Amounts falling due after more than one year: |
Amounts owed by related party | 4,296,091 | 4,831,000 |
Aggregate amounts |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts (see note 11) |
Trade creditors |
Social security and other taxes |
Other creditors |
Directors' current accounts | 586 | 274 |
Accrued expenses |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loan |
Hire purchase contracts (see note 11) |
Pebbles Real Estate Limited (Registered number: 11560463) |
Notes to the Financial Statements - continued |
for the year ended 28 February 2024 |
11. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire purchase contracts |
2024 | 2023 |
£ | £ |
Net obligations repayable: |
Within one year |
Between one and five years |
Non-cancellable operating | leases |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
12. | PROVISIONS FOR LIABILITIES |
2024 | 2023 |
£ | £ |
Deferred tax | 86,678 | 63,104 |
Deferred |
tax |
£ |
Balance at 1 March 2023 |
Charge for the year | 23,574 |
Balance at 28 February 2024 |
13. | NON-DISTRIBUTABLE RESERVES |
Included in retained earnings shown in these financial statements are non-distributable reserves of £275,661 as they represent the fair value surplus on the revaluation of investment properties. |