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Registration number: 13508951

Pinelee Estate Investments Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

Pinelee Estate Investments Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Pinelee Estate Investments Limited

(Registration number: 13508951)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

738

915

Investment property

5

1,220,311

1,215,000

Investments

6

50

-

 

1,221,099

1,215,915

Current assets

 

Debtors

7

635,250

1,713

Cash at bank and in hand

 

16,910

282,023

 

652,160

283,736

Creditors: Amounts falling due within one year

8

(1,019,870)

(819,076)

Net current liabilities

 

(367,710)

(535,340)

Total assets less current liabilities

 

853,389

680,575

Creditors: Amounts falling due after more than one year

8

(781,315)

(634,340)

Provisions for liabilities

(11,304)

(11,338)

Net assets

 

60,770

34,897

Capital and reserves

 

Called up share capital

100

100

Retained earnings

60,670

34,797

Shareholders' funds

 

60,770

34,897

 

Pinelee Estate Investments Limited

(Registration number: 13508951)
Balance Sheet as at 31 July 2024

For the financial year ending 31 July 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 provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 March 2025 and signed on its behalf by:
 

.........................................
Mr L O J Ballard
Director

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 7-9 Macon Court
Herald Drive
Crewe
CW1 6EA
England

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of property rental. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Tax

The tax expense for the period comprises current and deferred tax.

The current 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.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and
their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.
Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted
by the reporting date.

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

Fixtures and fittings

25% reducing balance

Office Equipment

33% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers or by the expert opinion of the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Borrowings

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

1,656

1,656

Additions

380

380

At 31 July 2024

2,036

2,036

Depreciation

At 1 August 2023

741

741

Charge for the year

557

557

At 31 July 2024

1,298

1,298

Carrying amount

At 31 July 2024

738

738

At 31 July 2023

915

915

5

Investment properties

2024
£

At 1 August

1,215,000

Additions

5,311

At 31 July

1,220,311

6

Investments

2024
£

2023
£

Investments in associates

50

-

Associates

£

Cost

Additions

50

Provision

Carrying amount

At 31 July 2024

50

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

7

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

634,132

1,025

Prepayments

 

873

388

Other debtors

 

245

300

 

635,250

1,713

 

Pinelee Estate Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

26

176

Taxation and social security

2,938

-

Accruals and deferred income

13

-

Other creditors

1,016,893

818,900

1,019,870

819,076

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

781,315

634,340

Included in loans and borrowings are mortgages which are secured against the assets to which they relate.