IRIS Accounts Production v24.3.2.46 01017032 director 1.8.23 31.7.24 31.7.24 0 0 false true false false true false Fair value model ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh010170322023-07-31010170322024-07-31010170322023-08-012024-07-31010170322022-07-31010170322022-08-012023-07-31010170322023-07-3101017032ns15:EnglandWales2023-08-012024-07-3101017032ns14:PoundSterling2023-08-012024-07-3101017032ns10:Director12023-08-012024-07-3101017032ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3101017032ns10:SmallEntities2023-08-012024-07-3101017032ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3101017032ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3101017032ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3101017032ns10:FullAccounts2023-08-012024-07-3101017032ns10:OrdinaryShareClass12023-08-012024-07-3101017032ns10:CompanySecretary12023-08-012024-07-3101017032ns10:RegisteredOffice2023-08-012024-07-3101017032ns5:CurrentFinancialInstruments2024-07-3101017032ns5:CurrentFinancialInstruments2023-07-3101017032ns5:Non-currentFinancialInstruments2024-07-3101017032ns5:Non-currentFinancialInstruments2023-07-3101017032ns5:ShareCapital2024-07-3101017032ns5:ShareCapital2023-07-3101017032ns5:FurtherSpecificReserve3ComponentTotalEquity2024-07-3101017032ns5:FurtherSpecificReserve3ComponentTotalEquity2023-07-3101017032ns5:RetainedEarningsAccumulatedLosses2024-07-3101017032ns5:RetainedEarningsAccumulatedLosses2023-07-3101017032ns5:PlantMachinery2023-07-3101017032ns5:PlantMachinery2023-08-012024-07-3101017032ns5:PlantMachinery2024-07-3101017032ns5:PlantMachinery2023-07-3101017032ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3101017032ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-3101017032ns5:Non-currentFinancialInstruments2023-08-012024-07-3101017032ns10:OrdinaryShareClass12024-07-3101017032ns5:RetainedEarningsAccumulatedLosses2023-07-3101017032ns5:FurtherSpecificReserve3ComponentTotalEquity2023-07-3101017032ns5:RetainedEarningsAccumulatedLosses2023-08-012024-07-31010170321ns10:Director12023-07-31010170321ns10:Director12022-07-31010170321ns10:Director12023-08-012024-07-31010170321ns10:Director12022-08-012023-07-31010170321ns10:Director12024-07-31010170321ns10:Director12023-07-31
REGISTERED NUMBER: 01017032 (England and Wales)

















Patton Interests Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024






Patton Interests Limited (Registered number: 01017032)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Patton Interests Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mrs P Wood





SECRETARY: Mrs P Wood





REGISTERED OFFICE: Unit 12
Shottery Brook Office Park
Timothy's Bridge Road
Stratford-Upon-Avon
Warwickshire
CV37 9NR





REGISTERED NUMBER: 01017032 (England and Wales)





ACCOUNTANTS: Moffat Gilbert
5 Clarendon Place
Leamington Spa
Warwickshire
CV32 5QL

Patton Interests Limited (Registered number: 01017032)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 99
Investment property 5 1,187,348 1,187,348
1,187,348 1,187,447

CURRENT ASSETS
Debtors 6 3,602 243
Cash at bank 71,243 189,188
74,845 189,431
CREDITORS
Amounts falling due within one year 7 9,041 13,591
NET CURRENT ASSETS 65,804 175,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,253,152

1,363,287

CREDITORS
Amounts falling due after more than one
year

8

-

(140,231

)

PROVISIONS FOR LIABILITIES (40,078 ) (30,460 )
NET ASSETS 1,213,074 1,192,596

CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 384,702 394,320
Retained earnings 10 828,272 798,176
SHAREHOLDERS' FUNDS 1,213,074 1,192,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Patton Interests Limited (Registered number: 01017032)

Balance Sheet - continued
31 July 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 3 January 2025 and were signed by:





Mrs P Wood - Director


Patton Interests Limited (Registered number: 01017032)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Patton Interests 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Freehold land and buildings are held as investment properties and, as such, are included at open market value.
Depreciation is provided at the following annual rates in order to write off each of the other assets over their estimated useful life.
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or 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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Fair value reserve
Fair value changes in investment properties are recorded in the fair value reserve which is a non-distributable profit reserve.

3. EMPLOYEES AND DIRECTORS

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

Patton Interests Limited (Registered number: 01017032)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023
and 31 July 2024 399
DEPRECIATION
At 1 August 2023 300
Charge for year 99
At 31 July 2024 399
NET BOOK VALUE
At 31 July 2024 -
At 31 July 2023 99

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2023
and 31 July 2024 1,187,348
NET BOOK VALUE
At 31 July 2024 1,187,348
At 31 July 2023 1,187,348

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2003 349,389
Valuation in 2006 146,954
Valuation in 2006 (48,000 )
Valuation in 2007 (57,582 )
Valuation in 2012 9,853
Valuation in 2015 (110,985 )
Valuation in 2017 135,150
Cost 762,569
1,187,348

If investment properties had not been revalued they would have been included at the following historical cost:

31.7.24 31.7.23
£    £   
Cost 762,569 762,569

Investment property was valued on an open market basis on 31 July 2017 by John Shepherd Chartered surveyors .

Patton Interests Limited (Registered number: 01017032)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

5. INVESTMENT PROPERTY - continued

The director deems these values to represent the fair value of the properties as at 31st July 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 243 243
Other debtors 3,359 -
3,602 243

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors - 3
Tax 7,070 11,775
Accrued expenses 1,971 1,813
9,041 13,591

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Director's loan account - 140,231

There are no agreed repayment terms for the director's loan account.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 ordinary 1 100 100

10. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 August 2023 798,176 394,320 1,192,496
Profit for the year 20,478 20,478
Transfer of deferred tax to fair
value reserve

9,618

(9,618

)

-

At 31 July 2024 828,272 384,702 1,212,974

Patton Interests Limited (Registered number: 01017032)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2024 and 31 July 2023:

31.7.24 31.7.23
£    £   
Mrs P Wood
Balance outstanding at start of year - -
Amounts advanced 2,400 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,400 -

The amount advanced to the director was a temporary withdrawal and was repaid in full after the year end.