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REGISTERED NUMBER: 04966985 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

PERSHING PROPERTIES LIMITED

PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


PERSHING PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: Mr S J A Domb
Mr P M Domb





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 04966985 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 90,817 94,898
Investments 5 151 5,154
Investment property 6 102,761 280,980
193,729 381,032

CURRENT ASSETS
Debtors 7 374,823 212,740
Cash at bank 3,372,678 3,677,827
3,747,501 3,890,567
CREDITORS
Amounts falling due within one year 8 854,312 1,106,147
NET CURRENT ASSETS 2,893,189 2,784,420
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,086,918

3,165,452

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,086,818 3,165,352
SHAREHOLDERS' FUNDS 3,086,918 3,165,452

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

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

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 by the Board of Directors and authorised for issue on 9 June 2025 and were signed on its behalf by:





Mr P M Domb - Director


PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Pershing Properties 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 Pershing Properties 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Rental income
Rental income represents net rent receivable on the investment property held in the company and an investment property held in a joint venture.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 5 years
Improvements to property - 20% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance

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

Joint ventures
Amounts receivable from joint venture partners, in respect of profits, are accounted for in the accounting period in which the corresponding profit arises and are included under other operating income.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would no give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

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 statement of financial position date.


PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Short to and Motor
leasehold property fittings vehicles Totals
£    £    £    £    £   
COST
At 1 October 2023 34,953 10,000 17,211 79,155 141,319
Additions - - 315 69,701 70,016
Disposals - - - (64,995 ) (64,995 )
At 30 September 2024 34,953 10,000 17,526 83,861 146,340
DEPRECIATION
At 1 October 2023 6,991 10,000 9,974 19,456 46,421
Charge for year 6,991 - 929 15,806 23,726
Eliminated on disposal - - - (14,624 ) (14,624 )
At 30 September 2024 13,982 10,000 10,903 20,638 55,523
NET BOOK VALUE
At 30 September 2024 20,971 - 6,623 63,223 90,817
At 30 September 2023 27,962 - 7,237 59,699 94,898

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 October 2023 5,154
Disposals (5,003 )
At 30 September 2024 151
NET BOOK VALUE
At 30 September 2024 151
At 30 September 2023 5,154

PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Shares in
group
undertakings
£   
Valuation in 2024 151

6. INVESTMENT PROPERTY
Total
£   
COST
At 1 October 2023 280,980
Additions 24,198
Disposals (202,417 )
At 30 September 2024 102,761
NET BOOK VALUE
At 30 September 2024 102,761
At 30 September 2023 280,980

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 259,838 65,454
Other debtors 114,985 147,286
374,823 212,740

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors (1,606 ) 15,349
Amounts owed to group undertakings 139,987 94,988
Amounts owed to related companies 690,223 519,876
Taxation and social security 3,209 395,330
Other creditors 22,499 80,604
854,312 1,106,147

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 September 2024 and the period ended 30 September 2023:

2024 2023
£    £   
Mr P M Domb
Balance outstanding at start of year (5,039 ) 43,418
Amounts advanced 53,494 69,722
Amounts repaid (48,125 ) (118,179 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 330 (5,039 )

PERSHING PROPERTIES LIMITED (REGISTERED NUMBER: 04966985)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr S J A Domb
Balance outstanding at start of year (4,512 ) (35,857 )
Amounts advanced 90,020 56,363
Amounts repaid (76,000 ) (25,018 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,508 (4,512 )

During the period under review, interest of £907 (2023: £611) was charged on the overdrawn directors loan accounts.

10. RELATED PARTY DISCLOSURES

Included in debtors, falling due within one year, is an amount of £NIL (2023: £11,248) due from Zinc B Ltd, a company with common directors.

Included in debtors, falling due within one year, is an interest free amount of £20,353 (2023: £12,401) due from Zinc G K Limited, a company with common directors.

Included in debtors, falling due within one year, is an interest free amount of £239,485 (2023: £41,805) due from Pershing KL Limited, a subsidiary company.

Included in creditors, falling due within one year, is an amount of £39,960 (2023: £19,348) due to Zinc G Ltd, a company with common directors. During the year, interest amounting to £NIL (2023:£3,753) was charged by Zinc G Ltd.

Included in creditors, falling due within one year, is an interest free amount of £650,263 (2023: £500,528) due to Zinc MD Limited, a company in which Mr P Domb is a director and shareholder.

Included in creditors, falling due within one year is an interest free amount of £139,987 (2023: £89,987) due to Hemel Commercial Properties Limited, a company in which Mr P Domb is director.