Pindar Properties Limited 07670713 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is Letting of property Digita Accounts Production Advanced 6.30.9574.0 true 07670713 2023-07-01 2024-06-30 07670713 2024-06-30 07670713 core:CurrentFinancialInstruments 2024-06-30 07670713 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 07670713 bus:SmallEntities 2023-07-01 2024-06-30 07670713 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07670713 bus:FullAccounts 2023-07-01 2024-06-30 07670713 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 07670713 bus:RegisteredOffice 2023-07-01 2024-06-30 07670713 bus:Director1 2023-07-01 2024-06-30 07670713 bus:Director2 2023-07-01 2024-06-30 07670713 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07670713 countries:EnglandWales 2023-07-01 2024-06-30 07670713 2023-06-30 07670713 2022-07-01 2023-06-30 07670713 2023-06-30 07670713 core:CurrentFinancialInstruments 2023-06-30 07670713 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 07670713

Pindar Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Pindar Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Pindar Properties Limited

Company Information

Directors

S J Clubley

G Pindar

Registered office

The Old Vicarage
8 Church Lane
Kirk Ella
Hull, East Yorkshire
East Yorkshire
HU10 7TJ

 

Pindar Properties Limited

(Registration number: 07670713)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

1,015,506

1,015,506

Current assets

 

Debtors

5

340

-

Cash at bank and in hand

 

109,200

42,516

 

109,540

42,516

Creditors: Amounts falling due within one year

6

(811,024)

(809,636)

Net current liabilities

 

(701,484)

(767,120)

Net assets

 

314,022

248,386

Capital and reserves

 

Called up share capital

102

102

Revaluation reserve

(98,841)

(98,841)

Retained earnings

412,761

347,125

Shareholders' funds

 

314,022

248,386

For the financial year ending 30 June 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 Profit and Loss Account.

Approved and authorised by the Board on 28 January 2025 and signed on its behalf by:
 

.........................................
S J Clubley
Director

.........................................
G Pindar
Director

 
     
 

Pindar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 07670713.

The address of its registered office is:
The Old Vicarage
8 Church Lane
Kirk Ella
Hull, East Yorkshire
East Yorkshire
HU10 7TJ

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 have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of rental services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

Pindar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 July

1,015,506

At 30 June

1,015,506

There has been no valuation of investment property by an independent valuer. However, the directors consider the properties to be in at fair value.

5

Debtors

2024
£

2023
£

Accrued income

340

-

340

-

 

Pindar Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Taxation and social security

 

18,534

10,730

Accruals and deferred income

 

1,825

1,458

Other creditors

 

7,500

6,650

Other borrowings

7

783,165

790,798

 

811,024

809,636

7

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

783,165

790,798

Other Borrowings relate to unsecured director loan accounts.

8

Related party transactions

Other transactions with Directors

At the year end, the company owed directors £783,165 (2023: £790,798). This amount is unsecured, interest free and repayable on demand.