| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 February 2024 |
| for |
| PISTEVO INVESTMENTS LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 29 February 2024 |
| for |
| PISTEVO INVESTMENTS LIMITED |
| PISTEVO INVESTMENTS LIMITED (REGISTERED NUMBER: 10620930) |
| Contents of the Financial Statements |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| PISTEVO INVESTMENTS LIMITED |
| Company Information |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 Kings Avenue |
| London |
| N21 3NA |
| PISTEVO INVESTMENTS LIMITED (REGISTERED NUMBER: 10620930) |
| Balance Sheet |
| 29 FEBRUARY 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 8 |
| Retained earnings | ( |
) | ( |
) |
| ( |
) |
| 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. |
| The financial statements were approved by the director and authorised for issue on |
| PISTEVO INVESTMENTS LIMITED (REGISTERED NUMBER: 10620930) |
| Notes to the Financial Statements |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 1. | STATUTORY INFORMATION |
| Pistevo Investments Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Significant judgements and estimates |
| In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. |
| The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods. There are no significant judgements or estimates involved in the preparation of the financial statements. |
| Turnover |
| Revenue comprises rental income derived from the leasing of properties under operating leases. Revenue is recognized in the profit and loss account on an accrual basis, in accordance with the terms of the rental agreements. Revenue is measured net of Value Added Tax and other sales-related taxes. Rental income received in advance is recognised as deferred income, and rental income due but unpaid is recognised as a receivable, net of any provision for doubtful debts. Contingent rents are recognised when the relevant event or condition occurs. |
| Investment property |
| Investment property is initially measured at cost, which includes purchase price and any directly attributable costs, such as professional fees and transaction costs.Subsequently, investment property is measured at fair value at each reporting date. Fair value is determined based on market evidence, provided by a professional valuation conducted annually. Changes in fair value are recognized in the profit and loss account in the period in which they arise. |
| Financial instruments |
| Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
| 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. |
| PISTEVO INVESTMENTS LIMITED (REGISTERED NUMBER: 10620930) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 March 2023 |
| Additions |
| Disposals | ( |
) |
| At 29 February 2024 |
| NET BOOK VALUE |
| At 29 February 2024 |
| At 28 February 2023 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts owed by connected companies | - | 719 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Amounts owed to connected companies | 328,589 | 49,625 |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1 March 2023 |
| Movement on disposal | (93,471 | ) |
| At 29 February 2024 |
| PISTEVO INVESTMENTS LIMITED (REGISTERED NUMBER: 10620930) |
| Notes to the Financial Statements - continued |
| FOR THE YEAR ENDED 29 FEBRUARY 2024 |
| 9. | RELATED PARTY DISCLOSURES |
| Included in creditors, amount falling due within one year, is an amount of £328,589 (2023:49,625) owed to a connected company. This loan is interest free and repayable on demand. |
| Included in creditors, amount falling due within one year, is an amount of £Nil (2023: £36,308) owed to a director of the company. The loan is interest free and repayable on demand. |