Company Registration No. 04948136 (England and Wales)
Pimco (UK) Limited
Unaudited accounts
for the year ended 30 November 2024
Pimco (UK) Limited
Company Information
for the year ended 30 November 2024
Company Number
04948136 (England and Wales)
Registered Office
3 KENT GREEN CLOSE
HOCKLEY
ESSEX
SS5 4ED
Accountants
Blenheim Accountants
One Hub Southend
3rd Floor Maitland House
Southend-on-Sea
Essex
SS1 2JY
Pimco (UK) Limited
Statement of financial position
as at 30 November 2024
Tangible assets
1,156,009
1,125,000
Cash at bank and in hand
6,719
5,501
Creditors: amounts falling due within one year
(147,601)
(166,328)
Net current liabilities
(137,298)
(160,827)
Total assets less current liabilities
1,018,711
964,173
Provisions for liabilities
Deferred tax
(108,602)
(102,710)
Net assets
910,109
861,463
Called up share capital
2
2
Capital redemption reserve
425,717
425,717
Profit and loss account
484,390
435,744
Shareholders' funds
910,109
861,463
For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 May 2025 and were signed on its behalf by
Sagheer Riaz
Director
Company Registration No. 04948136
Pimco (UK) Limited
Notes to the Accounts
for the year ended 30 November 2024
Pimco (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 04948136. The registered office is 3 KENT GREEN CLOSE, HOCKLEY, ESSEX, SS5 4ED.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation is charged
Plant & machinery
25% reducing balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Pimco (UK) Limited
Notes to the Accounts
for the year ended 30 November 2024
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the periof of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Capital redemption reserve
The capital redemption reserve is a non-distributable reserve as a result of property valuations.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At valuation
At cost
At 1 December 2023
1,125,000
-
1,125,000
Revaluations
30,000
-
30,000
At 30 November 2024
1,155,000
1,345
1,156,345
Charge for the year
-
336
336
At 30 November 2024
-
336
336
At 30 November 2024
1,155,000
1,009
1,156,009
At 30 November 2023
1,125,000
-
1,125,000
Included within the net book value of land and buildings above is £1,155,000 (2023 - £1,125,000) in respect of freehold land and buildings.
The fair value of the company's Land & Building was revalued on 30 November 2024 by an independent valuer.
Based on current market value of similar properties. The name and qualification of the independent valuer are Gilbert & Rose.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £584,423.
Pimco (UK) Limited
Notes to the Accounts
for the year ended 30 November 2024
Amounts falling due within one year
Accrued income and prepayments
2,284
-
7
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
7,207
4,538
Other creditors
138,665
45,000
Loans from directors
1,729
116,790
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loans made to the company
116,790
-
115,061
1,729
DIVIDENDS ISSUED:
Total dividends paid for the period were £0 (2023: £50,000)
10
Transactions with related parties
LOANS OWED TO RELATED PARTIES:
At the year end, there were loans owed by Pimco (UK) Limited to:
Hedgehog Development (Rayleigh) Limited £15,000 (2023: £45,000)
Rico (UK) Ltd £123,664 (2023: £0)
These are related companies controlled by Mr Sagheer Riaz.
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).