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COMPANY REGISTRATION NUMBER: 13164084
PEPONI ESTATES LIMITED
Filleted Unaudited Financial Statements
31 March 2024
PEPONI ESTATES LIMITED
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Investments
5
345,388
345,388
Current assets
Debtors
6
69,990
Cash at bank and in hand
128,495
125,566
---------
---------
198,485
125,566
Creditors: amounts falling due within one year
7
411,629
252,808
---------
---------
Net current liabilities
213,144
127,242
---------
---------
Total assets less current liabilities
132,244
218,146
Creditors: amounts falling due after more than one year
8
164,576
229,495
---------
---------
Net liabilities
( 32,332)
( 11,349)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 32,432)
( 11,449)
--------
--------
Shareholders deficit
( 32,332)
( 11,349)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
PEPONI ESTATES LIMITED
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 25 March 2025 , and are signed on behalf of the board by:
Sujal Shah
Director
Company registration number: 13164084
PEPONI ESTATES LIMITED
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Coledale Drive, Stanmore, England, HA7 2QF.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Investments
Other investments other than loans
£
Cost
At 1 April 2023 and 31 March 2024
345,388
---------
Impairment
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
345,388
---------
At 31 March 2023
345,388
---------
The leasehold land and building investment were valued on an open market value basis by directors on 31 March 2022. No timing differences arise and no provision has been made for deferred tax in respect of the revaluation as the company has no intention of disposing of the properties in the foreseeable future. The historical cost of assets included at valuation at the balance sheet date is as follows:-
No depreciation or amortisation is provided in respect of leasehold investment property. Although this accounting policy is in accordance with the applicable accounting standard, FRS 102, Accounting for investment properties, it is departure from the general requirement of the Companies Act 2006, which requires all fixed assets to be depreciated. However the directors consider that the calculation of systematic annual depreciation would fail to give a true and fair view of investment properties for which the current value, and changes in that value are of prime importance. The accounting policy adopted is therefore necessary for the financial statements to give true and fair view.
6. Debtors
2024
2023
£
£
Other debtors
69,990
--------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
411,629
252,808
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
164,576
229,495
---------
---------
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Sujal Shah
( 249,759)
( 159,205)
( 408,964)
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
Sujal Shah
( 252,616)
2,857
( 249,759)
---------
-------
---------
10. Related party transactions
The company was under the control of Sujal Shah throughout the current year. Sujal Shah is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.