REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PIMLICO PROPERTIES & INVESTMENTS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
PIMLICO PROPERTIES & INVESTMENTS LIMITED |
PIMLICO PROPERTIES & INVESTMENTS LIMITED (REGISTERED NUMBER: 05592729) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
PIMLICO PROPERTIES & INVESTMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
5 Jardine House |
Harrovian Business Village |
Bessborough Road |
Harrow |
Middlesex |
HA1 3EX |
PIMLICO PROPERTIES & INVESTMENTS LIMITED (REGISTERED NUMBER: 05592729) |
STATEMENT OF FINANCIAL POSITION |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | € | € | € | € |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 7 | ( |
) | ( |
) |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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 director and authorised for issue on |
PIMLICO PROPERTIES & INVESTMENTS LIMITED (REGISTERED NUMBER: 05592729) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Pimlico Properties & Investments Limited is a |
The presentation currency of the financial statements is the Euro (€). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going basis, on the understanding that the continued financial support will be provided by the shareholder. |
Related party exemption |
The company has taken advantage of 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 group. |
Tangible fixed assets |
Investment properties are included in the balance sheet at cost. In accordance with FRS102, no depreciation is provided on property held for investment purpose. FRS102 also requires property held for investment purposes to be re-valued to open market value. A revaluation on the investment properties was performed at open market value by the directors of the company. The deficit is not deemed to be permanent and has been taken to the statement of total recognised gains and losses and the revaluation reserve. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into Euro at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into Euro at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | PROPERTY, PLANT AND EQUIPMENT |
Cost or valuation at 31 December 2023 is represented by: |
Land and |
buildings |
€ |
Valuation in 2022 | (357,160 | ) |
Cost | 1,626,160 |
1,269,000 |
PIMLICO PROPERTIES & INVESTMENTS LIMITED (REGISTERED NUMBER: 05592729) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
€ | € |
Trade creditors |
Other creditors |
6. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
€ | € |
Other loans |
Included in other creditors is an interest free loan of €1,699,748 (2022 - €1,699,748) from a shareholder. It is repayable on demand. |
7. | RESERVES |
Revaluation |
reserve |
€ |
At 1 January 2023 |
and 31 December 2023 | ( |
) |
8. | GOING CONCERN |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements. |