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Registered Number: 11812357
England and Wales

 

 

 

PATRICK NICHOLAS PROPERTIES LTD


Abridged Accounts
 


Period of accounts

Start date: 01 July 2023

End date: 30 June 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 517,606    517,606 
517,606    517,606 
Current assets      
Debtors 555,076    540,726 
Cash at bank and in hand 56,799    92,499 
611,875    633,225 
Creditors: amount falling due within one year (393,421)   (418,991)
Net current assets 218,454    214,234 
 
Total assets less current liabilities 736,060    731,840 
Provisions for liabilities (38,693)   (38,693)
Net assets 697,367    693,147 
 

Capital and reserves
     
Called up share capital 100    100 
Reserves 4 203,646    203,646 
Profit and loss account 493,621    489,401 
Shareholders' funds 697,367    693,147 
 


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

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 27 March 2025 and were signed on its behalf by:


-------------------------------
N Tompkins
Director
1
General Information
Patrick Nicholas Properties Ltd is a private company, limited by shares, registered in England and Wales, registration number 11812357, registration address Unit 4A Waterside Park, Cookham Road , Bracknell, Berkshire, RG12 1RB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 (1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of income, 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 statement of financial position date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 and 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.
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Debtors
Short term debtors are measured at transaction price less any impairment. Loans receivable are measured at initially at fair value, net of transaction costs, and are measured subsequently at amortised costs using the effective interest method.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans are measured initially at fair value, net of transaction costs, and are subsequently measured at amortised costs using the effective interest method.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Investment properties   Total
  £   £
At 01 July 2023 517,606    517,606 
Additions  
Disposals  
At 30 June 2024 517,606    517,606 
Depreciation
At 01 July 2023  
Charge for year  
On disposals  
At 30 June 2024  
Net book values
Closing balance as at 30 June 2024 517,606    517,606 
Opening balance as at 01 July 2023 517,606    517,606 

Fair value at 30 June 2023 is represented by:   2024
£
valuation in 2023 517,606 


4.

Debtors: amounts falling due within one year

.   2024
£
  2023
£
Trade Debtors 9,829  15,727 
Amounts Owed to Group Undertakings 545,247 
Other Debtors 524,999 
555,076  540,726 

5.

Creditors: amounts falling due within one year

.   2024
£
  2023
£
Bank Loans & Overdrafts (Secured) 390,489  411,977 
Corporation Tax 948  3,019 
Accrued Expenses 1,984  1,998 
VAT 1,997 
393,421  418,991 



6.

Secured debts

The following secured debts are included within creditors   2024
£
  2023
£
Bank loans 390,489  411,977 

There is a fixed charge over the freehold property in favour of Barlays Secuity Trustee Limited.
7.

Provisions for liabilities

.   2024
£
  2023
£
Deferred Tax 38,693  38,693 
38,693  38,693 

8.

Reserves

.   2024
£
  2023
£
Revaluation Reserve b/fwd 203,646  203,646 
203,646  203,646 

2