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Registration number: 03270401

Poltair Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Poltair Properties Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 4

 

Poltair Properties Limited

(Registration number: 03270401)
Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Stocks

77,607

73,813

Debtors

4

619,066

551,663

Cash at bank and in hand

 

7,036

100,681

 

703,709

726,157

Creditors: Amounts falling due within one year

5

(2,047)

(9,992)

Net assets

 

701,662

716,165

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

701,660

716,163

Shareholders' funds

 

701,662

716,165

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 Statement of Comprehensive Income.

Approved and authorised by the Board on 27 January 2025 and signed on its behalf by:
 


Mr Ronald Ley
Director

 

Poltair Properties 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 United Kingdom.

The address of its registered office is:
47 Boutport Street
Barnstaple
Devon
EX31 1SQ

Principal activity

The principal activity of the company is that of development of building projects.

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.

Going concern

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Poltair Properties Limited

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

2

Accounting policies (continued)

Stocks

Work in progress is valued at the lower of cost and net realisable value and includes the cost of construction and other direct site-related expenditure.

Costs are only carried forward in work in progress where there is an expectation that the site will be successfully developed.

Speculative costs are written off the profit and loss account in the year in which they are incurred.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

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

4

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

7

617,474

550,135

Other debtors

 

1,192

1,128

Prepayments

 

400

400

 

619,066

551,663

 

Poltair Properties Limited

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

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

972

972

Accruals and deferred income

 

1,075

9,020

 

2,047

9,992

6

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

7

Related party transactions

Transactions with group companies

The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the the group.

8

Parent and ultimate parent undertaking

The ultimate parent is Poltair Group Limited , incorporated in United Kingdom .