REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Pink Pomegranate Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2024 |
for |
Pink Pomegranate Limited |
Pink Pomegranate Limited (Registered number: 10721486) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Chartered Accountants' Report | 8 |
Pink Pomegranate Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Maxwell House |
Liverpool Innovation Park |
Liverpool |
Merseyside |
L7 9NJ |
Pink Pomegranate Limited (Registered number: 10721486) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
Pink Pomegranate Limited (Registered number: 10721486) |
Balance Sheet - continued |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
Pink Pomegranate Limited (Registered number: 10721486) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Pink Pomegranate Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
(i) Investment property |
The fair value of investment property is assessed at each reporting date. An independent qualified surveyor will be appointed periodically to formally value investment property but in the intervening periods the directors, one of whom is an estate agent, will value the property. |
The key factors considered by the directors when valuing the investment property are the condition of the property, market demand and comparability with similar properties in the local area. |
Turnover |
Turnover represents rents received net of value added tax. |
Revenue recognition |
Rent is recognised in the period to which it relates. |
Tenant deposits are recognised as income to the extent they are withheld and at the point that the amount to be withheld is formally agreed with the tenant. |
Tenant deposits are paid directly into a third party Deposit Protection Scheme by the tenant and are therefore not accounted for in these financial statements. |
Investment property |
Investment properties are revalued annually with any surplus or deficit being dealt through profit and loss. No depreciation is provided in respect of investment properties. |
Pink Pomegranate Limited (Registered number: 10721486) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
3. | ACCOUNTING POLICIES - continued |
Current tax |
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end. |
Deferred tax |
Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when 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 and that are expected to apply to the reversal of the timing difference. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | 5,000 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Investment property is comprised of one property, acquired on 13 December 2017 for £105,000. The property's value was assessed as at 30 April 2024 by the directors. Although, the valuation was not performed by a qualified, independent surveyor, one of the directors is an estate agent experienced in providing property valuations. |
There are no restrictions on the realisability of investment property or on the remittance of income and proceeds of disposal. |
The company is contractually obliged to maintain in good repair investment property situated within blocks of apartments so that there is no impact on neighbouring apartments. |
Pink Pomegranate Limited (Registered number: 10721486) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Charter Court Financial Services Limited has a fixed charge over Apartment 24, Ampleforth House, Dial Street, Warrington, WA1 2NX. |
9. | RESERVES |
Revaluatio |
reserve |
£ |
At 1 May 2023 |
In year reserve transfer | 3,750 |
At 30 April 2024 |
Pink Pomegranate Limited (Registered number: 10721486) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | OFF-BALANCE SHEET ARRANGEMENTS |
The company has no off-balance sheet arrangements. |
11. | RELATED PARTY DISCLOSURES |
The company directors withdrew funds to the value of £335 from the company during the year, reducing the balance owed back to them for loans made. The amount outstanding at the balance sheet date amounted to £18,032 (2023 - £18,367). This is repayable on demand, unsecured and no guarantees have been given. No interest is being charged on the loan. |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Pink Pomegranate 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 Pink Pomegranate Limited for the year ended 30 April 2024 which comprise the Income Statement, 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 Pink Pomegranate 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 Pink Pomegranate Limited and state those matters that we have agreed to state to the Board of Directors of Pink Pomegranate 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 Pink Pomegranate Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Pink Pomegranate 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 Pink Pomegranate Limited. You consider that Pink Pomegranate 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 Pink Pomegranate 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. |
Chartered Accountants |
Maxwell House |
Liverpool Innovation Park |
Liverpool |
Merseyside |
L7 9NJ |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Pink Pomegranate Limited |
Date: ............................................. |