PMF PROPERTY LIMITED

Company Registration Number:
10215042 (England and Wales)

Unaudited abridged accounts for the year ended 30 June 2024

Period of accounts

Start date: 01 July 2023

End date: 30 June 2024

PMF PROPERTY LIMITED

Contents of the Financial Statements

for the Period Ended 30 June 2024

Balance sheet
Notes

PMF PROPERTY LIMITED

Balance sheet

As at 30 June 2024


Notes

2024

2023


£

£
Fixed assets
Tangible assets: 3 305,000 305,000
Total fixed assets: 305,000 305,000
Current assets
Debtors:   0 400
Cash at bank and in hand: 7,401 4,338
Total current assets: 7,401 4,738
Creditors: amounts falling due within one year:   (1,080) (1,800)
Net current assets (liabilities): 6,321 2,938
Total assets less current liabilities: 311,321 307,938
Creditors: amounts falling due after more than one year:   (292,827) (292,827)
Provision for liabilities: (5,220) (5,220)
Total net assets (liabilities): 13,274 9,891
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 13,272 9,889
Shareholders funds: 13,274 9,891

The notes form part of these financial statements

PMF PROPERTY LIMITED

Balance sheet statements

For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 25 March 2025
and signed on behalf of the board by:

Name: Mr A J King
Status: Director

The notes form part of these financial statements

PMF PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Rental income is recognised at the fair value of the consideration receivable for investment properties let out.

Valuation and information policy

Investment properties Investment properties are properties held to earn rentals and/or for capital appreciation, they are initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently they are measured at fair value at the reporting end date. Changes in fair value are recognised in the profit and loss account.

Other accounting policies

Financial instruments The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Taxation The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised.

PMF PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

2. Employees

2024 2023
Average number of employees during the period 0 0

PMF PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

3. Tangible Assets

Total
Cost £
At 01 July 2023 305,000
At 30 June 2024 305,000
Net book value
At 30 June 2024 305,000
At 30 June 2023 305,000

Investment properties comprise of residential buildings. The fair value of the investment properties has been determined by the directors. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

PMF PROPERTY LIMITED

Notes to the Financial Statements

for the Period Ended 30 June 2024

4. Related party transactions

Name of the related party:
Relationship:
Director
Description of the Transaction: At the balance sheet date £89,403 (2023 - £89,403) was owed to the directors. The unsecured loan is provided free of any interest charge and without any repayment terms.
£
Balance at 01 July 2023 89,403
Balance at 30 June 2024 89,403