Company Registration No. 09498591 (England and Wales)
Pell Buy It Investments Limited
Unaudited accounts
for the year ended 31 March 2024
Pell Buy It Investments Limited
Unaudited accounts
Contents
Pell Buy It Investments Limited
Company Information
for the year ended 31 March 2024
Directors
Jonathan Michael Pell
Rita Pell
Benjamin Gerald Pell
Company Number
09498591 (England and Wales)
Registered Office
Hazelwood
Tenterden Grove
London
NW4 1SX
United Kingdom
Pell Buy It Investments Limited
Statement of financial position
as at 31 March 2024
Investment property
2,380,000
2,380,000
Cash at bank and in hand
404,415
438,079
Creditors: amounts falling due within one year
(193,648)
(260,360)
Net current assets
210,767
179,144
Net assets
2,590,767
2,559,144
Called up share capital
200
200
Revaluation reserve
2,449,800
2,449,800
Profit and loss account
140,767
109,144
Shareholders' funds
2,590,767
2,559,144
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 22 January 2025 and were signed on its behalf by
Rita Pell
Director
Company Registration No. 09498591
Pell Buy It Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Pell Buy It Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 09498591. The registered office is Hazelwood, Tenterden Grove, London, NW4 1SX, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Fair value at 1 April 2023
2,380,000
At 31 March 2024
2,380,000
The 2024 valuations were made by the directors who are experienced property investors, on an open market value for existing use basis.
Pell Buy It Investments Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,418
7,964
Other creditors
180,200
244,856
7
Transactions with related parties
Included in other creditors falling due within one year is £153,082 (2023: £217,738) owed to the shareholders.
8
Average number of employees
During the year the average number of employees was 3 (2023: 3).