2 2 PK Developments 2000 Limited 05216120 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is Property letting and provision of finance Digita Accounts Production Advanced 6.30.9574.0 true 05216120 2023-09-01 2024-08-31 05216120 2024-08-31 05216120 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-08-31 05216120 core:CurrentFinancialInstruments 2024-08-31 05216120 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 05216120 bus:SmallEntities 2023-09-01 2024-08-31 05216120 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 05216120 bus:FilletedAccounts 2023-09-01 2024-08-31 05216120 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 05216120 bus:RegisteredOffice 2023-09-01 2024-08-31 05216120 bus:Director1 2023-09-01 2024-08-31 05216120 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 05216120 core:ComputerEquipment 2023-09-01 2024-08-31 05216120 countries:AllCountries 2023-09-01 2024-08-31 05216120 2023-08-31 05216120 2022-09-01 2023-08-31 05216120 2023-08-31 05216120 core:CurrentFinancialInstruments 2023-08-31 05216120 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 05216120

PK Developments 2000 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

PK Developments 2000 Limited

(Registration number: 05216120)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

450,000

420,000

Other financial assets

5

-

50

 

450,000

420,050

Current assets

 

Debtors

6

1,108,387

1,999,506

Cash at bank and in hand

 

13,545

155

 

1,121,932

1,999,661

Creditors: Amounts falling due within one year

7

(1,521,123)

(1,705,621)

Net current (liabilities)/assets

 

(399,191)

294,040

Net assets

 

50,809

714,090

Capital and reserves

 

Called up share capital

2

2

Non distributable reserve

58,155

28,155

Retained earnings

(7,348)

685,933

Shareholders' funds

 

50,809

714,090

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 February 2025 and signed on its behalf by:
 

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

Mr Paul Winston Kenyon
Director

 

PK Developments 2000 Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
52 Front Street
Acomb
York
North Yorkshire
YO24 3BX

These financial statements were authorised for issue by the Board on 28 February 2025.

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.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

PK Developments 2000 Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

Asset class

Depreciation method and rate

Computer equipment

25% reducing balance

Investment property

Investment properties are properties held to earn rental income or for capital appreciation. Investment properties are initially measured at cost including transaction costs.

Subsequently investment properties are measured at fair value. Investment property valuations are based on an open market value. Deferred tax is provided on these movements. Gains & Losses arising from changes in the fair value of investment properties are included in the Statement of Income and Retained Earnings in the period in which they arise.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

PK Developments 2000 Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

4

Investment properties

2024
£

At 1 September

420,000

Fair value adjustments

30,000

At 31 August

450,000

The property was revalued last year at its market value using market data from similar properties in the area.

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

50

50

Disposals

(50)

(50)

At 31 August 2024

-

-

Impairment

Carrying amount

At 31 August 2024

-

-

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,108,387

1,999,506

 

1,108,387

1,999,506

 

PK Developments 2000 Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

3,058

2,670

Other creditors

1,518,065

1,702,951

1,521,123

1,705,621

The directors have given a fixed charge over personally owned property to secure some of the company borrowings. At the balance sheet date the amount of borrowings covered by the charge was £4,000.