Registered number
07423173
Pell Croft Properties Limited
Filleted Accounts
31 October 2024
Pell Croft Properties Limited
Registered number: 07423173
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 473,000 473,000
Current assets
Debtors 4 3,850 42,850
Cash at bank and in hand 4,628 1,892
8,478 44,742
Creditors: amounts falling due within one year 5 (7,718) (37,418)
Net current assets 760 7,324
Total assets less current liabilities 473,760 480,324
Provisions for liabilities (27,936) (27,936)
Net assets 445,824 452,388
Capital and reserves
Called up share capital 66 66
Profit and loss account 445,758 452,322
Shareholders' funds 445,824 452,388
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. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A D Pell
Director
Approved by the board on 2 December 2024
Pell Croft Properties Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The 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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
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.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2023 473,000
At 31 October 2024 473,000
Depreciation
At 31 October 2024 -
Net book value
At 31 October 2024 473,000
At 31 October 2023 473,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 325,967 325,967
Cumulative depreciation based on historical cost 46,284 42,538
279,683 283,429
Investment properties are shown at the purchase cost as at October 2011 and December 2015. The market value of the property at October 2024 was £473,000.
All assets shown in investment properties are held for use under operating leases.
4 Debtors 2024 2023
£ £
Trade debtors 3,850 3,850
Other debtors - 39,000
3,850 42,850
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 2,424 2,148
Accruals 594 570
Deferred income 4,200 4,200
Other creditors 500 30,500
7,718 37,418
6 Non distributable reserve 2024 2023
£ £
Gain on revaluation of land and buildings 147,033 147,033
Deferred taxation arising on the revaluation of land and buildings (27,936) (27,936)
At 31 October 2024 119,097 119,097
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Directors account 39,000 - (39,000) -
39,000 - (39,000) -
8 Related party transactions
The company received an interest free and unsecured loan of £100,000 in June 2024 from Pellcroft Engineering Ltd. The directors and their close family control both this company and Pellcroft Engineering Ltd.
The loan was subsequently written off by Pellcroft Engineering Ltd. The write off of the loan has no tax effect.
9 Controlling party
There is no ultimate controlling party of the company.
10 Other information
Pell Croft Properties Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Homestead
Bullbeggars Lane
Woking
Surrey
GU21 4SQ
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