REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
PILONGOLD LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
FOR |
PILONGOLD LIMITED |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
PILONGOLD LIMITED |
COMPANY INFORMATION |
for the Year Ended 30 September 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Greenbank House |
141 Adelphi Street |
Preston |
Lancashire |
PR1 7BH |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
BALANCE SHEET |
30 September 2024 |
30.9.24 | 30.9.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Non-distributable reserve | 8 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
BALANCE SHEET - continued |
30 September 2024 |
The financial statements were approved by the director and authorised for issue on |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Pilongold Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income received from property owned by the company. |
Investment property |
The properties held by the company are classed as investment properties. No depreciation has been charged and freehold property is stated at open market value at the balance sheet date. Gains or losses arising from the changes in the fair values of investment properties are included in the Income Statement for the period in which they arise. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include investments, debtors and bank balances, are initially measured at transaction price and are subsequently carried at cost. Basic financial liabilities, which include creditors, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST OR VALUATION |
At 1 October 2023 |
and 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
Cost or valuation at 30 September 2024 is represented by: |
Land and |
buildings |
£ |
Valuation in 2002 | 744,243 |
Valuation in 2007 | 596,937 |
Valuation in 2012 | (1,100,000 | ) |
Valuation in 2014 | (100,000 | ) |
Valuation in 2018 | 700,000 |
Valuation in 2020 | 500,000 |
Cost | 658,820 |
2,000,000 |
If freehold property had not been revalued it would have been included at the following historical cost: |
30.9.24 | 30.9.23 |
£ | £ |
Cost | 658,820 | 658,820 |
Freehold property was valued on an open market basis on 30 September 2024 by the director, Mr Y A Bux . |
The property held by the company is classed as an investment property. No depreciation has been charged and freehold property is stated at open market value at the balance sheet date. The value stated at the balance sheet date has been taken from a valuation prepared by the director, Mr Y A Bux, on 30 September 2024, and stands at £2,000,000 (2023: £2,000,000). The indexed cost of the property,which is based upon indexation upto 31 December 2017, is £1,430,931 (2023: £1,430,931). It should be noted that indexation can only be calculated upto 31 December 2017, due to the removal of the indexation allowance from 1 January 2018. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Trade debtors |
PILONGOLD LIMITED (REGISTERED NUMBER: 01808478) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30 September 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 48,000 | 20,200 |
Corporation tax |
Other creditors |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.9.24 | 30.9.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | - | 28,211 |
8. | RESERVES |
Non-distributable |
reserve |
£ |
At 1 October 2023 |
and 30 September 2024 |
9. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the director, Mr Y Bux, together with his wife and father. |