5 01/09/2023 31/08/2024 2024-08-31 false false false false false false false true false false true false false false false false false false 2023-09-01 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
_______ _______ _______ _______