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REGISTERED NUMBER: 10633067 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

PG7 LIMITED

PG7 LIMITED (REGISTERED NUMBER: 10633067)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PG7 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: A J Pettit
N Young





REGISTERED OFFICE: 35 Wilkinson Street
Sheffield
S10 2GB





REGISTERED NUMBER: 10633067 (England and Wales)





ACCOUNTANTS: Hollis and Co Limited
Chartered Accountants
35 Wilkinson Street
Sheffield
South Yorkshire
S10 2GB

PG7 LIMITED (REGISTERED NUMBER: 10633067)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 5 12,500,000 12,500,000

CURRENT ASSETS
Debtors 6 2,057,433 2,097,808
Investments 7 1 1
Prepayments and accrued income 17,931 19,355
Cash at bank 772,997 640,051
2,848,362 2,757,215
CREDITORS
Amounts falling due within one year 8 416,816 455,778
NET CURRENT ASSETS 2,431,546 2,301,437
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,931,546

14,801,437

CREDITORS
Amounts falling due after more than one
year

9

(6,000,000

)

(6,000,000

)

PROVISIONS FOR LIABILITIES (967,000 ) (967,000 )
NET ASSETS 7,964,546 7,834,437

CAPITAL AND RESERVES
Called up share capital 4,425,100 4,425,100
Retained earnings 3,539,446 3,409,337
7,964,546 7,834,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PG7 LIMITED (REGISTERED NUMBER: 10633067)

BALANCE SHEET - continued
30 JUNE 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2025 and were signed on its behalf by:





N Young - Director


PG7 LIMITED (REGISTERED NUMBER: 10633067)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

PG7 Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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


These financial statements cover the entity as an individual company.

The figures in the financial statements are rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

PG7 LIMITED (REGISTERED NUMBER: 10633067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 12,500,000
NET BOOK VALUE
At 30 June 2024 12,500,000
At 30 June 2023 12,500,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 12,500,000

If Investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 8,639,633 8,639,633

Investment property was valued on an open market basis on 7 April 2022 by Knight Frank LLP .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors (4,024 ) 32,990
Amounts owed by group undertakings 2,012,498 2,012,498
Other debtors 14,570 -
2,023,044 2,045,488

Amounts falling due after more than one year:
Other debtors 34,389 52,320

Aggregate amounts 2,057,433 2,097,808

7. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Other 1 1

PG7 LIMITED (REGISTERED NUMBER: 10633067)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 132,010 35,870
Amounts owed to group undertakings 41,550 41,550
Taxation and social security 110,158 209,942
Other creditors 133,098 168,416
416,816 455,778

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,000,000 6,000,000

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 6,000,000 6,000,000

The bank loan is secured by way of a fixed and floating charge over the investment property held in the company. A negative pledge also exists.