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Company registration number: 12602766
PCG Investment Properties Limited
Unaudited filleted financial statements
31 March 2024
PCG Investment Properties Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
PCG Investment Properties Limited
Directors and other information
Director Paul Griffin
Company number 12602766
Registered office 88 Belgrave Road
London
Greater London
E11 3QP
Accountants Pollock Taylor Ltd
Chartered Certified Accountants
124-126 Church Hill
Loughton
Essex
IG10 1LH
PCG Investment Properties Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 3,095 3,869
Investments 6 660,000 660,000
_______ _______
663,095 663,869
Current assets
Debtors 7 240 100
Cash at bank and in hand 14,606 14,949
_______ _______
14,846 15,049
Creditors: amounts falling due
within one year 8 ( 250,141) ( 249,731)
_______ _______
Net current liabilities ( 235,295) ( 234,682)
_______ _______
Total assets less current liabilities 427,800 429,187
Creditors: amounts falling due
after more than one year 9 ( 430,495) ( 430,511)
_______ _______
Net liabilities ( 2,695) ( 1,324)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 2,795) ( 1,424)
_______ _______
Shareholders deficit ( 2,695) ( 1,324)
_______ _______
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 February 2025 , and are signed on behalf of the board by:
Paul Griffin
Director
Company registration number: 12602766
PCG Investment Properties Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wa'les. The address of the registered office is 88 Belgrave Road, London, Greater London, E11 3QP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2023 and 31 March 2024 7,738 7,738
_______ _______
Depreciation
At 1 April 2023 3,869 3,869
Charge for the year 774 774
_______ _______
At 31 March 2024 4,643 4,643
_______ _______
Carrying amount
At 31 March 2024 3,095 3,095
_______ _______
At 31 March 2023 3,869 3,869
_______ _______
6. Investments
Other investments other than loans Total
£ £
Cost
At 1 April 2023 and 31 March 2024 660,000 660,000
_______ _______
Impairment
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 660,000 660,000
_______ _______
At 31 March 2023 660,000 660,000
_______ _______
7. Debtors
2024 2023
£ £
Other debtors 240 100
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Corporation tax 574 574
Other creditors 249,567 249,157
_______ _______
250,141 249,731
_______ _______
9. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 430,495 430,511
_______ _______