Ponder Property & Maintenance Limited
Registered number: 06362409
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 294,409 297,207
Current assets
Stocks 389,080 380,592
Debtors 4 27,803 30,360
Cash at bank and in hand 1,805 1,692
418,688 412,644
Creditors: amounts falling due within one year 5 (308,871) (274,632)
Net current assets 109,817 138,012
Total assets less current liabilities 404,226 435,219
Creditors: amounts falling due after more than one year 6 (312,497) (329,028)
Provisions for liabilities (2,126) (2,658)
Net assets 89,603 103,533
Capital and reserves
Called up share capital 2 2
Profit and loss account 89,601 103,531
Shareholders' funds 89,603 103,533
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr C Ponder
Director
Approved by the board on 10 March 2025
Ponder Property & Maintenance Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Stocks and work in progress
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock and work in progress sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 283,217 8,000 32,478 323,695
At 30 September 2024 283,217 8,000 32,478 323,695
Depreciation
At 1 October 2023 - 7,313 19,175 26,488
Charge for the year - 137 2,661 2,798
At 30 September 2024 - 7,450 21,836 29,286
Net book value
At 30 September 2024 283,217 550 10,642 294,409
At 30 September 2023 283,217 687 13,303 297,207
4 Debtors 2024 2023
£ £
Trade debtors - 1,680
Other debtors 27,803 28,680
27,803 30,360
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans, mortgages and overdrafts 18,347 17,597
Obligations under finance lease and hire purchase contracts - 3,702
Trade creditors 873 216
Accruals 950 900
Corporation tax (1,031) -
Other creditors 289,732 252,217
308,871 274,632
6 Creditors: amounts falling due after one year 2024 2023
£ £
Mortgage 287,692 289,087
Obligations under finance lease and hire purchase contracts - 9,706
Bank loan 24,805 30,235
312,497 329,028
7 Loans and mortgages 2024 2023
£ £
Creditors include:
Instalments falling due for payment after more than five years 312,497 244,618
Secured bank loans and mortgages 299,679 300,204
Mortgage on leasehold and freehold properties.
8 Events after the reporting date
There have been no known events since the balance sheet date which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
9 Pension commitments
There are no known pension commitments which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
10 Contingent liabilities
There are no known contingent liabilities which require disclosure or which would materially affect the amounts in the accounts, other than those already disclosed or included in the accounts.
11 Related party transactions
Total dividends of £1000 were paid during the year to Mr C Ponder and Mrs J Ponder, joint shareholders of the company. As at the year end the the company owed Mr and Mrs Ponder £286695. The loan is interest free with no fixed date for repayment.
12 Controlling party
The company is under the common control of Mr and Mrs Ponder being directors and shareholders of the company.
13 Other information
Ponder Property & Maintenance Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Old Dairy Farm
Upper Stowe
Weedon
Northants
NN7 4SH
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