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REGISTERED NUMBER: 01808478 (England and Wales)















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: Y A Bux





SECRETARY: A Bux





REGISTERED OFFICE: Barton Hall
Garstang Road
Broughton
Preston
Lancashire
PR3 5BT





REGISTERED NUMBER: 01808478 (England and Wales)





ACCOUNTANTS: James Todd & Co
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 2,000,000 2,000,000

CURRENT ASSETS
Debtors 5 31,083 24,687
Cash at bank 26,420 115,687
57,503 140,374
CREDITORS
Amounts falling due within one year 6 148,734 193,674
NET CURRENT LIABILITIES (91,231 ) (53,300 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,908,769

1,946,700

CREDITORS
Amounts falling due after more than one
year

7

-

(28,211

)

PROVISIONS FOR LIABILITIES (109,890 ) (109,890 )
NET ASSETS 1,798,879 1,808,599

CAPITAL AND RESERVES
Called up share capital 150 150
Non-distributable reserve 8 1,246,180 1,246,180
Retained earnings 552,549 562,269
SHAREHOLDERS' FUNDS 1,798,879 1,808,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2025 and were signed by:





Y A Bux - Director


PILONGOLD LIMITED (REGISTERED NUMBER: 01808478)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Pilongold Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 2 (2023 - 2 ) .

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 2,000,000
NET BOOK VALUE
At 30 September 2024 2,000,000
At 30 September 2023 2,000,000

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 31,083 24,687

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 - 5,590
Trade creditors 1,187 11,155
Amounts owed to participating interests 48,000 20,200
Corporation tax 19 28,540
Other creditors 22,682 46,769
Accruals and deferred income 76,846 81,420
148,734 193,674

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.9.24 30.9.23
£    £   
Bank loans - 28,211

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 1,246,180

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, Mr Y Bux, together with his wife and father.