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 |