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REGISTERED NUMBER: 00947591 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Provincial Land Limited

Provincial Land Limited (Registered number: 00947591)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Provincial Land Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: Mr M P Shaw
Mr J D Shaw





SECRETARY: Mr T J Shaw





REGISTERED OFFICE: Suite 112
Peel House
30 The Downs
Altrincham
Cheshire
WA14 2PU





REGISTERED NUMBER: 00947591 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
2nd Floor Fairbank House
27 Ashley Road
Altrincham
Cheshire
WA14 2DP

Provincial Land Limited (Registered number: 00947591)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
FIXED ASSETS
Tangible assets 4 1,686 1,260

CURRENT ASSETS
Stocks 989,410 685,849
Debtors 5 2,948 8,886
Cash at bank 562,874 867,404
1,555,232 1,562,139
CREDITORS
Amounts falling due within one year 6 (234,177 ) (204,116 )
NET CURRENT ASSETS 1,321,055 1,358,023
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,322,741

1,359,283

PROVISIONS FOR LIABILITIES (321 ) (240 )
NET ASSETS 1,322,420 1,359,043

CAPITAL AND RESERVES
Called up share capital 8 32,000 32,000
Retained earnings 1,290,420 1,327,043
SHAREHOLDERS' FUNDS 1,322,420 1,359,043

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2024 and were signed on its behalf by:





Mr M P Shaw - Director


Provincial Land Limited (Registered number: 00947591)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Provincial Land Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment - Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit of loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

Provincial Land Limited (Registered number: 00947591)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Rental income
Turnover in respect of rental income is recognised on an accruals basis, exclusive of Value Added Tax. Properties held as trading stock for re-sale are often let prior to sale in order to enhance the value for re-sale purposes. The properties let however, remain reflected as trading stock as the company holds the assets with the sole intention of selling them. No assets are held for investment purposes.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
COST
At 1 July 2023 3,657
Additions 872
Disposals (2,250 )
At 30 June 2024 2,279
DEPRECIATION
At 1 July 2023 2,397
Charge for year 446
Eliminated on disposal (2,250 )
At 30 June 2024 593
NET BOOK VALUE
At 30 June 2024 1,686
At 30 June 2023 1,260

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors - 150
Other debtors 2,948 8,736
2,948 8,886

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 6,228 2,112
Other creditors 227,949 202,004
234,177 204,116

Provincial Land Limited (Registered number: 00947591)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

7. LEASING AGREEMENTS

Lessor
At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024 2023

76,227 53,479


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
3,200 A Ordinary 1 3,200 3,200
14,399 B Ordinary 1 14,399 14,399
14,401 C Ordinary 1 14,401 14,401
32,000 32,000

9. RELATED PARTY DISCLOSURES

Amounts due to Related Parties
2024 2023
£    £   

Directors 40,344 33,167
Other 177,856 159,682

10. ULTIMATE CONTROLLING PARTY

The company is controlled by Original Property Investments Limited, a company registered in England and Wales.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Provincial Land Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Provincial Land Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Provincial Land Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Provincial Land Limited and state those matters that we have agreed to state to the Board of Directors of Provincial Land Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Provincial Land Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Provincial Land Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Provincial Land Limited. You consider that Provincial Land Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Provincial Land Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Ltd
Chartered Accountants
2nd Floor Fairbank House
27 Ashley Road
Altrincham
Cheshire
WA14 2DP


19 December 2024