IRIS Accounts Production v24.3.2.46 01777036 Board of Directors 1.12.23 30.11.24 30.11.24 true false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh017770362023-11-30017770362024-11-30017770362023-12-012024-11-30017770362022-11-30017770362022-12-012023-11-30017770362023-11-3001777036ns15:EnglandWales2023-12-012024-11-3001777036ns14:PoundSterling2023-12-012024-11-3001777036ns10:Director12023-12-012024-11-3001777036ns10:PrivateLimitedCompanyLtd2023-12-012024-11-3001777036ns10:SmallEntities2023-12-012024-11-3001777036ns10:AuditExempt-NoAccountantsReport2023-12-012024-11-3001777036ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-3001777036ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-3001777036ns10:AbridgedAccounts2023-12-012024-11-3001777036ns10:Director22023-12-012024-11-3001777036ns10:Director42023-12-012024-11-3001777036ns10:RegisteredOffice2023-12-012024-11-3001777036ns5:CurrentFinancialInstruments2024-11-3001777036ns5:CurrentFinancialInstruments2023-11-3001777036ns5:ShareCapital2024-11-3001777036ns5:ShareCapital2023-11-3001777036ns5:RetainedEarningsAccumulatedLosses2024-11-3001777036ns5:RetainedEarningsAccumulatedLosses2023-11-30
REGISTERED NUMBER: 01777036 (England and Wales)













Financial Statements

for the Year Ended 30 November 2024

for

PKS (UK) Limited

PKS (UK) Limited (Registered number: 01777036)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


PKS (UK) Limited

Company Information
for the Year Ended 30 November 2024







DIRECTORS: Mr A Parkes
Mrs C Porter
Mr J Ogden



REGISTERED OFFICE: Lincoln Road
Torksey Lock
Torksey
LINCOLN
Lincolnshire
LN1 2EL



REGISTERED NUMBER: 01777036 (England and Wales)



ACCOUNTANTS: Nicholsons
Chartered Accountants
Newland House
The Point
Weaver Road
LINCOLN
Lincolnshire
LN6 3QN



BANKERS: HSBC Bank plc
221 High Street
LINCOLN
Lincolnshire
LN1 1TS

PKS (UK) Limited (Registered number: 01777036)

Abridged Statement of Financial Position
30 November 2024

30/11/24 30/11/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,727,745 1,745,943
Investments 5 5 5
Investment property 6 8,113,000 7,529,347
9,840,750 9,275,295

CURRENT ASSETS
Debtors 172,712 164,157
Cash at bank 2,104,404 1,592,651
2,277,116 1,756,808
CREDITORS
Amounts falling due within one year 291,736 281,462
NET CURRENT ASSETS 1,985,380 1,475,346
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,826,130

10,750,641

PROVISIONS FOR LIABILITIES 135,853 48,890
NET ASSETS 11,690,277 10,701,751

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 11,690,275 10,701,749
SHAREHOLDERS' FUNDS 11,690,277 10,701,751

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

PKS (UK) Limited (Registered number: 01777036)

Abridged Statement of Financial Position - continued
30 November 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 November 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 April 2025 and were signed on its behalf by:





Mrs C Porter - Director


PKS (UK) Limited (Registered number: 01777036)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

PKS (UK) 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.

2. ACCOUNTING POLICIES

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

Preparation of consolidated financial statements
The financial statements contain information about PKS (UK) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoice income from property ownership, 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.

Freehold land-not provided
Freehold buildings-4% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Properties in the course of construction are included at cost to be revalued on completion. Property rented to group companies is not revalued but has been included in tangible fixed assets at cost and depreciated.

PKS (UK) Limited (Registered number: 01777036)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Only basic financial instruments as defined in FRS 102 are held. Financial assets and financial liabilities are recognised in the accounts only when the entity becomes party to the contractual provisions of the instrument and their measurement basis is as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments.

Cash at bank is classified as a basic financial instrument and is measured at transaction price.

Financial liabilities - trade creditors, accruals and other creditors are basic financial instruments, and are measured at amortised cost. Where a financial liability constitutes a financing transaction it is initially and subsequently measured at the present value of future payments, discounted at a market rate of interest.

Leasing
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

PKS (UK) Limited (Registered number: 01777036)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2023
and 30 November 2024 2,170,570
DEPRECIATION
At 1 December 2023 424,627
Charge for year 18,198
At 30 November 2024 442,825
NET BOOK VALUE
At 30 November 2024 1,727,745
At 30 November 2023 1,745,943

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 December 2023
and 30 November 2024 5
NET BOOK VALUE
At 30 November 2024 5
At 30 November 2023 5

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 7,529,347
Revaluations 583,653
At 30 November 2024 8,113,000
NET BOOK VALUE
At 30 November 2024 8,113,000
At 30 November 2023 7,529,347

PKS (UK) Limited (Registered number: 01777036)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

6. INVESTMENT PROPERTY - continued

During the year all of the investment properties, apart from those under construction, were let or available for let under operating leases. Rents received under operating leases were £427,439 (2023: £413,578).

Investment properties were valued on an open market value of the freehold interest in the properties subject to the existing occupational leases on 30 November 2024 by Pygott & Crone. This was a full valuation.

If the investment properties were sold at this value there would be a additional charge to Corporation tax of approximately £135,853 (2023: £48,890).

Fair value at 30 November 2024 is represented by:
£   
Valuation in 2016 3,630,000
Valuation in 2020 (300,000 )
Valuation in 2023 2,750,000
Valuation in 2024 2,033,000
8,113,000

If investment properties had not been revalued it would have been included at the following historical cost:

30/11/24 30/11/23
£    £   
Cost 7,386,963 7,386,963
Aggregate depreciation (2,621,038 ) (2,325,559 )

Investment Properties were valued on a fair value basis basis on 30 November 2024 by Pygott & Crone .

PKS (UK) Limited (Registered number: 01777036)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

7. RELATED PARTY DISCLOSURES

Torksey Caravans Limited is wholly owned by PKS (UK) Limited which is part of Mrs J Parkes estate. Mr A Parkes, Mrs C Porter and Mr J Ogden are directors of both companies with Mrs J Parkes ceasing as a director.

During the year a rental charge for the caravan sites, administration buildings, workshops and showrooms has been made by PKS (UK) Limited to Torksey Caravans Limited of £325,000 (2023 - £325,000) which is considered by the directors to be equivalent to the market rate.

During the year a management charge was made by Torksey Caravans Limited to PKS (UK) Limited of £44,297 (2023 - £48,447), representing a proportion of wages and administration costs to cover expenditure incurred in managing the properties held by PKS (UK) Limited.

As at 30 November 2024 there is an amount of £44,297 (2023 - £48,447) payable to Torksey Caravans Limited.