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REGISTERED NUMBER: 15178646 (England and Wales)









Unaudited Financial Statements

for the Period

30 September 2023 to 30 September 2024

for

Pollyanna Properties Ltd

Pollyanna Properties Ltd (Registered number: 15178646)






Contents of the Financial Statements
for the Period 30 September 2023 to 30 September 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


Pollyanna Properties Ltd (Registered number: 15178646)

Balance Sheet
30 September 2024

Notes £    £   
FIXED ASSETS
Tangible assets 4 30,264
Investment property 5 321,610
351,874

CURRENT ASSETS
Debtors 6 550
Cash at bank 4,625
5,175
CREDITORS
Amounts falling due within one year 7 365,430
NET CURRENT LIABILITIES (360,255 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(8,381

)

CAPITAL AND RESERVES
Called up share capital 8 100
Retained earnings (8,481 )
(8,381 )

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2025 and were signed by:




N J Smith - Director


Pollyanna Properties Ltd (Registered number: 15178646)

Notes to the Financial Statements
for the Period 30 September 2023 to 30 September 2024

1. STATUTORY INFORMATION

Pollyanna Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 15178646

Registered office: 49 Micklethwaite Grove
Wetherby
LS22 5LA

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 UK and Republic of Ireland" and the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to give a true and fair view.

The financial statements have been prepared under the historical cost convention modified to include investment property at fair value.

Going concern
The financial statements show that at the balance sheet date the company had net liabilities. However, the director believes that it is appropriate to prepare the accounts on a going concern basis, as she has deferred repayment of all liabilities from the company for the next financial year and will continue to financially support the company.

Tangible fixed assets
Tangible fixed assets are stated at purchase cost, net of depreciation.

Depreciation is provided on all tangible assets at rates calculated to write off the cost less estimated residual value of each asset on a straight line or reducing balance basis over its expected useful life as follows:

Fixtures and fittings- 20% straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset after deducting estimated costs of disposal, if the asset were already at an age and in the condition expected at the end of its estimated useful life.

The gain or loss arising on the disposal of an asset is determined on the difference between the sale proceeds and the carrying value of the asset, and is recognised in the profit and loss account.

Investment property
Investment property for which fair value can be measured reliably without undue cost or effort on an ongoing basis is measured at fair value annually with any charge recognised in the profit and loss account.


Pollyanna Properties Ltd (Registered number: 15178646)

Notes to the Financial Statements - continued
for the Period 30 September 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax, including UK corporation tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date and are expected to apply to the reversal of the timing difference.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit and loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

The following assets and liabilities are classified as basic financial instruments - cash and bank balances and other creditors.

Cash and bank balances and other creditors are measured at the amortised cost equivalent to the undiscounted amount of cash or other consideration expected to be paid or received.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss as described below.

Non financial assets
An asset is impaired when there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Financial assets
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had the impairment loss not been recognised.

Pollyanna Properties Ltd (Registered number: 15178646)

Notes to the Financial Statements - continued
for the Period 30 September 2023 to 30 September 2024

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about the carrying values 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The critical judgements that the directors have made in applying the company's accounting policies and the key sources of estimation uncertainty that have had the most significant effect on the amounts recognised in the financial statements are described below:

Investment property
The company makes an estimate of the fair value of investment property at each reporting date. The director undertakes a review of investment property at each reporting date to assess whether the fair value has changed significantly since the previous reporting date. When assessing the fair values, management considers current commercial property trends and rental yields.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 31,560
At 30 September 2024 31,560
DEPRECIATION
Charge for period 1,296
At 30 September 2024 1,296
NET BOOK VALUE
At 30 September 2024 30,264

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 321,610
At 30 September 2024 321,610
NET BOOK VALUE
At 30 September 2024 321,610

Pollyanna Properties Ltd (Registered number: 15178646)

Notes to the Financial Statements - continued
for the Period 30 September 2023 to 30 September 2024

5. INVESTMENT PROPERTY - continued

Investment property was valued as at 30 September 2024. This valuation, made by the director, was based on market value and is the equivalent of historical cost.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 550

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 240
Other creditors 365,190
365,430

8. CALLED UP SHARE CAPITAL

£
Allotted, issued and fully paid 100

During the period 100 ordinary £1 share were issued at par.

9. COMPARATIVE FIGURES

This is the first set of financial statements for the company and hence there are no comparative figures to show.