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Registration number: 09998558

Pinnerscots Residential Ltd

Unaudited Filleted Financial Statements

for the Period from 1 September 2023 to 31 March 2024

 

Pinnerscots Residential Ltd

Contents

Company Information

1

Accountants' Report

2

Statement of Financial Position

3

Notes to the Unaudited Financial Statements

4 to 7

 

Pinnerscots Residential Ltd

Company Information

Director

B N Mehta

Registered office

163 Herne Hill
London
SE24 9LR

Accountants

Innovi Advisors Ltd
Chartered Certified Accountants163 Herne Hill
London
SE24 9LR

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Pinnerscots Residential Ltd
for the Period Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Pinnerscots Residential Ltd for the period ended 31 March 2024 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of Pinnerscots Residential Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Pinnerscots Residential Ltd and state those matters that we have agreed to state to the Board of Directors of Pinnerscots Residential Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pinnerscots Residential Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Pinnerscots Residential Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Pinnerscots Residential Ltd. You consider that Pinnerscots Residential Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Pinnerscots Residential Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Innovi Advisors Ltd
Chartered Certified Accountants
163 Herne Hill
London
SE24 9LR

21 March 2025

 

Pinnerscots Residential Ltd

(Registration number: 09998558)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

710,000

710,000

Current assets

 

Debtors

5

5,500

5,500

Cash at bank and in hand

 

1,750

58

 

7,250

5,558

Creditors: Amounts falling due within one year

6

(207,596)

(208,019)

Net current liabilities

 

(200,346)

(202,461)

Total assets less current liabilities

 

509,654

507,539

Creditors: Amounts falling due after more than one year

6

(569,644)

(522,758)

Net liabilities

 

(59,990)

(15,219)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(59,991)

(15,220)

Shareholders' deficit

 

(59,990)

(15,219)

For the financial period 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 accounts for the period in question in accordance with section 476; and

The director acknowledges his 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 21 March 2025
 

B N Mehta
Director

   
     
 

Pinnerscots Residential Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 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:
163 Herne Hill
London
SE24 9LR
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.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. 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.

 

Pinnerscots Residential Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

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 income statement 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Pinnerscots Residential Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities, or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 September

710,000

At 31 March

710,000

5

Debtors

Current

2024
£

2023
£

Other debtors

5,500

5,500

 

5,500

5,500

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

10,129

10,158

Trade creditors

 

780

793

Accruals and deferred income

 

913

793

Other creditors

 

195,774

196,275

 

207,596

208,019

 

Pinnerscots Residential Ltd

Notes to the Unaudited Financial Statements for the Period from 1 September 2023 to 31 March 2024 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

569,644

522,758

7

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

569,644

522,758

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,129

10,158