REGISTERED NUMBER: |
Financial Statements |
for the Year Ended |
30 April 2024 |
for |
Plymouth Property (Midlands) Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended |
30 April 2024 |
for |
Plymouth Property (Midlands) Limited |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
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 |
Plymouth Property (Midlands) Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Church Court |
Stourbridge Road |
Halesowen |
West Midlands |
B63 3TT |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
Balance Sheet |
30 April 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 10 |
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. |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
Balance Sheet - continued |
30 April 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | ACCOUNTING POLICIES |
Plymouth Property (Midlands) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Going concern |
At the time of signing these accounts, the directors have considered the going concern status of the company and believe that the company will continue to trade for a period of 12 months from the date of signing these accounts. At the balance sheet date the company had a healthy balance sheet in a net asset position. The company has continued to maintain this post year end. |
The financial forecasts prepared by the directors shows that the company will be able to operate within the facilities available to it. |
On that basis, the directors have prepared these financial statements on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 May 2023 |
and 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Revaluations | 1,625,000 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
The Investment property was revalued at market value on the 10th January 2024 by Vail Williams at £5,500,000. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 2,232,182 | - |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Bank loans are secured by a fixed and floating charge over the company's assets in favour of the company's bankers. |
Plymouth Property (Midlands) Limited (Registered number: 10109241) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation reserve | 1,201,951 |
At 30 April 2024 |
11. | RELATED PARTY DISCLOSURES |
Other debtors includes amounts owed from companies with common directors amounting to £97,694 (2023 £66,537). |
Other creditors includes amounts owed to companies with common directors amounting to £Nil (2023 £635,482). |