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Registration number: 02933830

Pavilion Investments Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Pavilion Investments Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Pavilion Investments Limited

(Registration number: 02933830)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,256,507

1,215,762

Current assets

 

Debtors

5

199,988

199,988

Cash at bank and in hand

 

23,018

25,051

 

223,006

225,039

Creditors: Amounts falling due within one year

6

(24,482)

(44,500)

Net current assets

 

198,524

180,539

Total assets less current liabilities

 

1,455,031

1,396,301

Provisions for liabilities

(93,581)

(78,925)

Net assets

 

1,361,450

1,317,376

Capital and reserves

 

Called up share capital

400,100

400,100

Revaluation reserve

430,304

411,337

Retained earnings

531,046

505,939

Shareholders' funds

 

1,361,450

1,317,376

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 24 January 2025 and signed on its behalf by:
 

.........................................
Mr J P Levy
Director

 

Pavilion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Trinity
161 Old Christchurch Road
Bournemouth
Dorset
BH1 1JU
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the letting of property. Turnover from the rendering of accommodation is recognised by reference to the stage of completion of the contract.

Tax

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.

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

 

Pavilion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings, tools and equipment

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Provisions

Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 2).

 

Pavilion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

1,215,761

48,157

1,263,918

Revaluations

33,623

-

33,623

Additions

-

8,904

8,904

At 30 April 2024

1,249,384

57,061

1,306,445

Depreciation

At 1 May 2023

-

48,156

48,156

Charge for the year

-

1,782

1,782

At 30 April 2024

-

49,938

49,938

Carrying amount

At 30 April 2024

1,249,384

7,123

1,256,507

At 30 April 2023

1,215,761

1

1,215,762

Included within the net book value of land and buildings above is £33,623 (2023 - £Nil) in respect of freehold land and buildings and £ 89,000 (2023 - £89,000) in respect of long leasehold land and buildings.
 

Revaluation

The fair value of the company's land and buildings was assessed at 30 April 2024 by the director's on the basis of their view of the expected yield for each type of property.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £711,802 (2023 - £711,802).

5

Debtors

2024
£

2023
£

Trade debtors

2,488

2,488

Other debtors

197,500

197,500

199,988

199,988

 

Pavilion Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

10,882

19,576

Taxation and social security

9,448

20,772

Other creditors

4,152

4,152

24,482

44,500