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Sage Accounts Production 23.0 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
03039987
2023-09-01
2024-08-31
03039987
2024-08-31
03039987
2023-08-31
03039987
2022-09-01
2023-08-31
03039987
2023-08-31
03039987
2022-08-31
03039987
bus:RegisteredOffice
2023-09-01
2024-08-31
03039987
bus:OrdinaryShareClass1
2023-09-01
2024-08-31
03039987
bus:LeadAgentIfApplicable
2023-09-01
2024-08-31
03039987
bus:Director1
2023-09-01
2024-08-31
03039987
bus:Director2
2023-09-01
2024-08-31
03039987
bus:CompanySecretary1
2023-09-01
2024-08-31
03039987
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-31
03039987
core:FurnitureFittingsToolsEquipment
2023-08-31
03039987
core:MotorVehicles
2023-08-31
03039987
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-08-31
03039987
core:FurnitureFittingsToolsEquipment
2024-08-31
03039987
core:MotorVehicles
2024-08-31
03039987
core:WithinOneYear
2024-08-31
03039987
core:WithinOneYear
2023-08-31
03039987
core:AfterOneYear
2024-08-31
03039987
core:AfterOneYear
2023-08-31
03039987
core:ShareCapital
2024-08-31
03039987
core:ShareCapital
2023-08-31
03039987
core:RevaluationReserve
2024-08-31
03039987
core:RevaluationReserve
2023-08-31
03039987
core:RetainedEarningsAccumulatedLosses
2024-08-31
03039987
core:RetainedEarningsAccumulatedLosses
2023-08-31
03039987
bus:OrdinaryShareClass1
core:ShareCapital
2024-08-31
03039987
bus:OrdinaryShareClass1
core:ShareCapital
2023-08-31
03039987
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-09-01
2024-08-31
03039987
core:MotorVehicles
2023-09-01
2024-08-31
03039987
core:CostValuation
core:Non-currentFinancialInstruments
2023-08-31
03039987
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-08-31
03039987
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-08-31
03039987
core:CostValuation
core:Non-currentFinancialInstruments
2024-08-31
03039987
core:Non-currentFinancialInstruments
2024-08-31
03039987
core:Non-currentFinancialInstruments
2023-08-31
03039987
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-08-31
03039987
core:FurnitureFittingsToolsEquipment
2023-08-31
03039987
core:MotorVehicles
2023-08-31
03039987
core:DeferredTaxation
2024-08-31
03039987
bus:SmallEntities
2023-09-01
2024-08-31
03039987
bus:AuditExemptWithAccountantsReport
2023-09-01
2024-08-31
03039987
bus:SmallCompaniesRegimeForAccounts
2023-09-01
2024-08-31
03039987
bus:PrivateLimitedCompanyLtd
2023-09-01
2024-08-31
03039987
bus:FullAccounts
2023-09-01
2024-08-31
03039987
core:OtherMiscellaneousReserve
2024-08-31
03039987
core:OtherMiscellaneousReserve
2023-08-31
Pavillion Ltd.
Filleted accounts
31 August 2024
Company registration number:
03039987
Pavillion Ltd.
Directors and other information
|
|
|
|
Directors |
R Hutton |
|
|
S P Rogers |
|
|
|
|
|
|
|
Secretary |
S P Rogers |
|
|
|
|
|
|
|
Company number |
03039987 |
|
|
|
|
|
|
|
Registered office |
Unit 1 |
|
|
London Road |
|
|
Wheatley |
|
|
Oxford |
|
|
OX33 1JH |
|
|
|
|
|
|
|
Accountants |
Cox Hinkins & Co. Limited |
|
|
Accountants and Taxation Advisors |
|
|
The Old Dairy |
|
|
12 Stephen Road |
|
|
Headington |
|
|
Oxford |
|
|
OX3 9AY |
|
|
|
Pavillion Ltd.
Balance sheet
31st August 2024
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
Note |
£ |
|
£ |
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
|
|
Tangible assets |
|
5 |
1,865,457 |
|
|
|
1,721,658 |
|
|
Investments |
|
6 |
9,000,162 |
|
|
|
8,635,874 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
10,865,619 |
|
|
|
10,357,532 |
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
|
Debtors |
|
7 |
30,107 |
|
|
|
47,578 |
|
|
Cash at bank and in hand |
|
|
37,574 |
|
|
|
225,725 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
67,681 |
|
|
|
273,303 |
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
within one year |
|
8 |
(
2,010,392) |
|
|
|
(
1,925,801) |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
Net current liabilities |
|
|
|
|
(
1,942,711) |
|
|
|
(
1,652,498) |
|
|
|
|
|
_______ |
|
|
|
_______ |
Total assets less current liabilities |
|
|
|
|
8,922,908 |
|
|
|
8,705,034 |
|
|
|
|
|
|
|
|
|
|
Creditors: amounts falling due |
|
|
|
|
|
|
|
|
|
after more than one year |
|
9 |
|
|
(
1,697,199) |
|
|
|
(
1,912,190) |
|
|
|
|
|
|
|
|
|
|
Provisions for liabilities |
|
10 |
|
|
(
273,400) |
|
|
|
(
273,400) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______ |
|
|
|
_______ |
Net assets |
|
|
|
|
6,952,309 |
|
|
|
6,519,444 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
|
|
|
|
|
Called up share capital |
|
12 |
|
|
30,000 |
|
|
|
30,000 |
Revaluation reserve |
|
|
|
|
293,269 |
|
|
|
309,678 |
Other reserves |
|
|
|
|
1,667,643 |
|
|
|
1,667,643 |
Profit and loss account |
|
|
|
|
4,961,397 |
|
|
|
4,512,123 |
|
|
|
|
|
_______ |
|
|
|
_______ |
Shareholders funds |
|
|
|
|
6,952,309 |
|
|
|
6,519,444 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
|
|
|
For the year ending 31 August 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge 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 Profit & loss account has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 February 2025
, and are signed on behalf of the board by:
R Hutton
Director
Company registration number:
03039987
Pavillion Ltd.
Notes to the financial statements
Year ended 31st August 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Unit 1, London Road, Wheatley, Oxford, OX33 1JH. There was no significant change in the company's principal activity during the year which continued to be that of
the letting and operating of real estate
.
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. The principal accounting policies are set out below. 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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, 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.
Operating leases
Rentals payable under operating leases, including any lease incentives received, are charged to the profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which the economic benefits from the leased assets are consumed. Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows:
|
|
|
|
|
|
Land and buildings freehold |
- |
Freehold properties are disclosed at their open market value and are not subject to depreciation. The directors consider that to depreciate them would not give a true and fair view. |
|
|
Motor vehicles |
- |
3 years straight line |
|
|
|
|
|
|
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.
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. Investment property has been valued by the directors.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the Balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractualarrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
5
(2023:
5
).
5.
Tangible assets
|
|
Freehold property |
Fixtures, fittings and equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
|
At 1st September 2023 |
1,710,178 |
3,500 |
23,938 |
1,737,616 |
|
|
|
|
Additions |
151,779 |
- |
- |
151,779 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st August 2024 |
1,861,957 |
3,500 |
23,938 |
1,889,395 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1st September 2023 |
- |
- |
15,958 |
15,958 |
|
|
|
|
Charge for the year |
- |
- |
7,980 |
7,980 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st August 2024 |
- |
- |
23,938 |
23,938 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
|
At 31st August 2024 |
1,861,957 |
3,500 |
- |
1,865,457 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 31st August 2023 |
1,710,178 |
3,500 |
7,980 |
1,721,658 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
|
6.
Investments
|
|
Shares in group undertakings and participating interests |
Other investments other than loans |
Total |
|
|
|
|
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
|
At 1st September 2023 |
10 |
8,635,862 |
8,635,872 |
|
|
|
|
Additions |
- |
624,290 |
624,290 |
|
|
|
|
Disposals |
- |
(
260,000) |
(
260,000) |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31st August 2024 |
10 |
9,000,152 |
9,000,162 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Impairment |
|
|
|
|
|
|
|
At 1st September 2023 and 31st August 2024 |
- |
- |
- |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
Carrying amount |
|
|
|
|
|
|
|
At 31st August 2024 |
10 |
9,000,152 |
9,000,162 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
At 31st August 2023 |
10 |
8,635,862 |
8,635,872 |
|
|
|
|
|
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
7.
Debtors
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Trade debtors |
|
23,711 |
34,122 |
|
Other debtors |
|
6,396 |
13,456 |
|
|
|
_______ |
_______ |
|
|
|
30,107 |
47,578 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Creditors: amounts falling due within one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans |
|
366,929 |
414,555 |
|
Trade creditors |
|
54,274 |
33,493 |
|
Social security and other taxes |
|
138,165 |
84,574 |
|
Other creditors |
|
1,451,024 |
1,393,179 |
|
|
|
_______ |
_______ |
|
|
|
2,010,392 |
1,925,801 |
|
|
|
_______ |
_______ |
|
|
|
|
|
9.
Creditors: amounts falling due after more than one year
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Bank loans |
|
1,697,199 |
1,912,190 |
|
|
|
_______ |
_______ |
|
|
|
|
|
10.
Provisions
|
|
Deferred tax (note 11) |
Total |
|
|
|
|
|
£ |
£ |
|
|
|
|
At 1st September 2023 and 31st August 2024 |
273,400 |
273,400 |
|
|
|
|
|
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
11.
Deferred tax
The deferred tax included in the Balance sheet is as follows:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Included in provisions (note 10) |
|
273,400 |
273,400 |
|
|
|
_______ |
_______ |
|
|
|
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
2024 |
2023 |
|
|
|
£ |
£ |
|
Investment property |
|
270,917 |
270,917
|
|
Land and buildings |
|
2,483
|
2,483
|
|
|
|
_______ |
_______ |
|
|
|
273,400 |
273,400 |
|
|
|
_______ |
_______ |
|
|
|
|
|
12.
Called up share capital
Issued, called up and fully paid
|
|
|
2024 |
|
|
|
2023 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
5.00 each |
|
6,000 |
|
30,000 |
|
6,000 |
|
30,000 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|