Pendra Loweth Leaseholders Limited 10756829 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is to hold the land in relation to the management charges collected by Pendra Loweth Leaseholders Management Limited. The company also holds the clubhouse which is rented to Pendra Loweth Leaseholders Management Limited. Digita Accounts Production Advanced 6.30.9574.0 true 10756829 2024-01-01 2024-12-31 10756829 2024-12-31 10756829 bus:OrdinaryShareClass1 2024-12-31 10756829 core:RetainedEarningsAccumulatedLosses 2024-12-31 10756829 core:ShareCapital 2024-12-31 10756829 core:SharePremium 2024-12-31 10756829 core:CurrentFinancialInstruments 2024-12-31 10756829 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 10756829 core:Non-currentFinancialInstruments 2024-12-31 10756829 core:Non-currentFinancialInstruments core:AfterOneYear 2024-12-31 10756829 core:LandBuildings 2024-12-31 10756829 bus:SmallEntities 2024-01-01 2024-12-31 10756829 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 10756829 bus:FilletedAccounts 2024-01-01 2024-12-31 10756829 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10756829 bus:RegisteredOffice 2024-01-01 2024-12-31 10756829 bus:CompanySecretary1 2024-01-01 2024-12-31 10756829 bus:Director5 2024-01-01 2024-12-31 10756829 bus:Director7 2024-01-01 2024-12-31 10756829 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10756829 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10756829 core:Land 2024-01-01 2024-12-31 10756829 countries:UnitedKingdom 2024-01-01 2024-12-31 10756829 2023-12-31 10756829 core:LandBuildings 2023-12-31 10756829 2023-01-01 2023-12-31 10756829 2023-12-31 10756829 bus:OrdinaryShareClass1 2023-12-31 10756829 core:RetainedEarningsAccumulatedLosses 2023-12-31 10756829 core:ShareCapital 2023-12-31 10756829 core:SharePremium 2023-12-31 10756829 core:CurrentFinancialInstruments 2023-12-31 10756829 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 10756829 core:Non-currentFinancialInstruments 2023-12-31 10756829 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 10756829 core:LandBuildings 2023-12-31 iso4217:GBP xbrli:pure xbrli:shares

Pendra Loweth Leaseholders Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2024

Registration number: 10756829

 

Pendra Loweth Leaseholders Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Pendra Loweth Leaseholders Limited

Company Information

Directors

I Bramley

M Williams

Company secretary

M Burchell

Registered office

Pendra Loweth
Maen Valley
Goldenbank
Falmouth
Cornwall
TR11 5BJ

Accountants

Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall
TR1 2NA

 

Pendra Loweth Leaseholders Limited

Balance Sheet

31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

349,473

349,473

Current assets

 

Debtors

5

-

1

Cash at bank and in hand

 

19,552

27,953

 

19,552

27,954

Creditors: Amounts falling due within one year

6

(82,733)

(82,508)

Net current liabilities

 

(63,181)

(54,554)

Total assets less current liabilities

 

286,292

294,919

Creditors: Amounts falling due after more than one year

6

(153,128)

(161,821)

Net assets

 

133,164

133,098

Capital and reserves

 

Called up share capital

8

111,000

111,000

Share premium reserve

3,600

3,600

Profit and loss account

18,564

18,498

Shareholders' funds

 

133,164

133,098

 

Pendra Loweth Leaseholders Limited

Balance Sheet

31 December 2024

For the financial year ending 31 December 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 6 March 2025 and signed on its behalf by:
 

.........................................
I Bramley
Director

Company Registration Number: 10756829

 

Pendra Loweth Leaseholders Limited

Notes to the Financial Statements

Year Ended 31 December 2024

1

General information

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

The address of its registered office is:
Pendra Loweth
Maen Valley
Goldenbank
Falmouth
Cornwall
TR11 5BJ
United Kingdom

These financial statements were authorised for issue by the Board on 6 March 2025.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Revenue recognition

Turnover is in respect of legal and professional fees paid by the owners of the holiday homes to purchase Pendra Loweth Holiday Village Falmouth. The company also receives rental income for the clubhouse which is rented to Pendra Loweth Leaseholders Management Limited.

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

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 corporation 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.

 

Pendra Loweth Leaseholders Limited

Notes to the Financial Statements

Year Ended 31 December 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land

Not depreciated

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

 

Pendra Loweth Leaseholders Limited

Notes to the Financial Statements

Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2024

349,473

349,473

At 31 December 2024

349,473

349,473

Carrying amount

At 31 December 2024

349,473

349,473

At 31 December 2023

349,473

349,473

Included within the net book value of land and buildings above is £349,473 (2023 - £349,473) in respect of freehold land and buildings.
 

5

Debtors

2024
£

2023
£

Other debtors

-

1

-

1

 

Pendra Loweth Leaseholders Limited

Notes to the Financial Statements

Year Ended 31 December 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

66,500

65,500

Taxation and social security

 

15

1,260

Accruals and deferred income

 

1,182

1,074

Other creditors

 

15,036

14,674

 

82,733

82,508

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

153,128

161,821

Current loans and borrowings

2024
£

2023
£

Other borrowings

66,500

65,500

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1,000 each

111

111,000

111

111,000