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REGISTERED NUMBER: 10109241 (England and Wales)








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: A J Day
Mrs L Day
S A Day
S P Day





REGISTERED OFFICE: Poplar House
George Road
Bromsgrove Technology Park
Bromsgrove
B60 3BF





REGISTERED NUMBER: 10109241 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
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 1,306 2,995
Investment property 5 5,500,000 3,875,000
5,501,306 3,877,995

CURRENT ASSETS
Debtors 6 155,697 66,862
Cash at bank 109,300 5,616
264,997 72,478
CREDITORS
Amounts falling due within one year 7 229,467 824,638
NET CURRENT ASSETS/(LIABILITIES) 35,530 (752,160 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,536,836

3,125,835

CREDITORS
Amounts falling due after more than one year 8 (3,138,849 ) (2,419,139 )

PROVISIONS FOR LIABILITIES (575,493 ) (158,334 )
NET ASSETS 1,822,494 548,362

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 1,201,951 -
Retained earnings 620,443 548,262
SHAREHOLDERS' FUNDS 1,822,494 548,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

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


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 29 January 2025 and were signed on its behalf by:





S A Day - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023
and 30 April 2024 20,731
DEPRECIATION
At 1 May 2023 17,736
Charge for year 1,689
At 30 April 2024 19,425
NET BOOK VALUE
At 30 April 2024 1,306
At 30 April 2023 2,995

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 3,875,000
Revaluations 1,625,000
At 30 April 2024 5,500,000
NET BOOK VALUE
At 30 April 2024 5,500,000
At 30 April 2023 3,875,000

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 155,697 66,862

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 226,667 189,156
Other creditors 2,800 635,482
229,467 824,638

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 3,138,849 2,419,139

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 3,365,516 2,608,295

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 1,201,951

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).