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REGISTERED NUMBER: 11000167 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

PYRAMID RENTAL PROPERTY LIMITED

PYRAMID RENTAL PROPERTY LIMITED (REGISTERED NUMBER: 11000167)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PYRAMID RENTAL PROPERTY LIMITED

Company Information
for the year ended 30 April 2024







Directors: M Mittal
N D A Mittal
Mrs N Mittal
R Mittal





Registered office: 24 Vivian Way
Hampstead
London
N2 0AE





Registered number: 11000167 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

PYRAMID RENTAL PROPERTY LIMITED (REGISTERED NUMBER: 11000167)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Investment property 5 7,067,552 7,067,552

Current assets
Debtors 6 1,391,328 849,200
Cash at bank 423,295 920,573
1,814,623 1,769,773
Creditors
Amounts falling due within one year 7 72,311 67,719
Net current assets 1,742,312 1,702,054
Total assets less current liabilities 8,809,864 8,769,606

Creditors
Amounts falling due after more than one
year

8

4,691,491

4,691,491
Net assets 4,118,373 4,078,115

Capital and reserves
Called up share capital 3,941,106 3,941,106
Retained earnings 9 177,267 137,009
4,118,373 4,078,115

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 14 January 2025 and were signed on its behalf by:





M Mittal - Director


PYRAMID RENTAL PROPERTY LIMITED (REGISTERED NUMBER: 11000167)

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


1. Statutory information

Pyramid Rental Property 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. Compliance with accounting standards

The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.


PYRAMID RENTAL PROPERTY LIMITED (REGISTERED NUMBER: 11000167)

Notes to the Financial Statements - continued
for the year ended 30 April 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.

4. Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

5. Investment property
Total
£   
Fair value
At 1 May 2023
and 30 April 2024 7,067,552
Net book value
At 30 April 2024 7,067,552
At 30 April 2023 7,067,552

6. Debtors
2024 2023
£    £   
Amounts falling due within one year:
Other debtors 1,215,410 673,282

Amounts falling due after more than one year:
Other debtors 175,918 175,918

Aggregate amounts 1,391,328 849,200

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 5,459 5,459
Taxation and social security 25,339 21,769
Other creditors 41,513 40,491
72,311 67,719

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 3,080,990 3,080,990
Other creditors 1,610,501 1,610,501
4,691,491 4,691,491

PYRAMID RENTAL PROPERTY LIMITED (REGISTERED NUMBER: 11000167)

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


8. Creditors: amounts falling due after more than one year - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,057,740 3,057,740

9. Reserves
Retained
earnings
£   

At 1 May 2023 137,009
Profit for the year 77,356
Dividends (37,098 )
At 30 April 2024 177,267

10. Directors' advances, credits and guarantees

As at the year end, there is a balance of £868,109 (2023: £673,282) owed by the directors to the company which is shown within other debtors.