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REGISTERED NUMBER: 03663692 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

PIONEERS PROPERTY LTD

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PIONEERS PROPERTY LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: I P Karniol





SECRETARY: Mrs B Karniol





REGISTERED OFFICE: 99 Clapton Common
London
E5 9AB





REGISTERED NUMBER: 03663692 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 5 2,321 2,893
Investment property 6 5,012,316 5,386,496
5,014,637 5,389,389

CURRENT ASSETS
Debtors 7 1,293,126 1,323,473
Investments 8 100 100
Cash at bank 11,913 4,893
1,305,139 1,328,466
CREDITORS
Amounts falling due within one year 9 (491,385 ) (891,502 )
NET CURRENT ASSETS 813,754 436,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,828,391

5,826,353

CREDITORS
Amounts falling due after more than one
year

10

(1,640,188

)

(1,711,102

)
NET ASSETS 4,188,203 4,115,251

CAPITAL AND RESERVES
Called up share capital 13 100 100
Fair value reserve 14 2,967,801 2,967,801
Retained earnings 14 1,220,302 1,147,350
SHAREHOLDERS' FUNDS 4,188,203 4,115,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 and authorized for issue by the director and authorised for issue on 26 March 2025 and were signed by:





I P Karniol - Director


PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Pioneers Property Ltd 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 (£).


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.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 32,888 1,064 33,952
DEPRECIATION
At 1 April 2023 30,039 1,020 31,059
Charge for year 557 15 572
At 31 March 2024 30,596 1,035 31,631
NET BOOK VALUE
At 31 March 2024 2,292 29 2,321
At 31 March 2023 2,849 44 2,893

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 5,386,496
Disposals (374,180 )
At 31 March 2024 5,012,316
NET BOOK VALUE
At 31 March 2024 5,012,316
At 31 March 2023 5,386,496

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2015 2,347,801
Valuation in 2016 250,000
Valuation in 2017 370,000
Valuation in 2019 2,418,695
Valuation in 2024 (374,180 )
5,012,316

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 6,379 3,303
Other debtors 1,286,747 1,320,170
1,293,126 1,323,473

8. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Unlisted investments 100 100

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts (see note 11) 10,959 10,959
Trade creditors 84,108 84,454
Taxation and social security 40,821 46,542
Other creditors 355,497 749,547
491,385 891,502

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans (see note 11) 1,640,188 1,711,102

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
31.3.24 31.3.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,217,421 1,267,854

11. LOANS

An analysis of the maturity of loans is given below:

31.3.24 31.3.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,959 10,959

Amounts falling due between two and five years:
Bank loans - 2-5 years 422,767 443,248

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,217,421 1,267,854

12. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,651,147 1,722,061

Bank loans and overdraft are secured by a first charge over company's investment properties and bear interest at variable rates.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary £1 100 100

PIONEERS PROPERTY LTD (REGISTERED NUMBER: 03663692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

14. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 1,147,350 2,967,801 4,115,151
Profit for the year 72,952 72,952
At 31 March 2024 1,220,302 2,967,801 4,188,103

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is I P Karniol.