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Registration number: 11363568

Pichet Properties Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 June 2023 to 30 June 2024

 

Pichet Properties Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Pichet Properties Ltd

Company Information

Director

Mr Timothy Brent

Registered office

First Floor
111 Queens Road
Weybridge
Surrey
KT13 9UN

Accountants

Atek Accounting Solutions Ltd111 Queens Road
Weybridge
Surrey
KT13 9UN

 

Pichet Properties Ltd

(Registration number: 11363568)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

-

405

Investment property

4

-

305,068

 

-

305,473

Current assets

 

Debtors

5

5,222

500

Cash at bank and in hand

 

8,625

2,099

 

13,847

2,599

Creditors: Amounts falling due within one year

6

(22,382)

(15,081)

Net current liabilities

 

(8,535)

(12,482)

Total assets less current liabilities

 

(8,535)

292,991

Creditors: Amounts falling due after more than one year

6

-

(240,505)

Net (liabilities)/assets

 

(8,535)

52,486

Capital and reserves

 

Called up share capital

7

100

100

Revaluation reserve

-

(58,000)

Other reserves

128,663

128,663

Retained earnings

(137,298)

(18,277)

Shareholders' (deficit)/funds

 

(8,535)

52,486

For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 9 August 2024
 

 

Pichet Properties Ltd

(Registration number: 11363568)
Balance Sheet as at 30 June 2024 (continued)

.........................................
Mr Timothy Brent
Director

 

Pichet Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
First Floor
111 Queens Road
Weybridge
Surrey
KT13 9UN

These financial statements were authorised for issue by the director on 9 August 2024.

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.

Going concern

The business has sold the investment property. The Directors of the company intend to commence wind up proceedings.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of 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.

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.

 

Pichet Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024 (continued)

2

Accounting policies (continued)

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 the director) during the period, was 0 (2023 - 0).

 

Pichet Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024 (continued)

4

Investment properties

2024
£

At 1 June

363,068

Disposals

(363,068)

At 30 June

-

The property has been sold.

5

Debtors

Current

2024
£

2023
£

Other debtors

5,222

500

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Other creditors

22,382

15,081

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

240,505

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

Pichet Properties Ltd

Notes to the Unaudited Financial Statements for the Period from 1 June 2023 to 30 June 2024 (continued)

8

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Other borrowings

-

240,505