2024-01-092025-01-312025-01-31false15398180PNGS Properties 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PNGS Properties Limited

Registered Number
15398180
(England and Wales)

Unaudited Financial Statements for the Period ended
31 January 2025

PNGS Properties Limited
Company Information
for the period from 9 January 2024 to 31 January 2025

Director

Nicholas Theori

Registered Address

Nicholas Peters & Co 10-12 Bourlet Close
Nicholas Peters & Co
London
W1W 7BR

Place of Business

Olive Tree 472A Larkshall Road

Higham's Park

London

E4 9HH


Registered Number

15398180 (England and Wales)
PNGS Properties Limited
Balance Sheet as at
31 January 2025

Notes

2025

£

£

Fixed assets
Tangible assets32,046,756
2,046,756
Current assets
Debtors4632
Cash at bank and on hand9,265
9,897
Creditors amounts falling due within one year5(2,082,355)
Net current assets (liabilities)(2,072,458)
Total assets less current liabilities(25,702)
Net assets(25,702)
Capital and reserves
Called up share capital100
Profit and loss account(25,802)
Shareholders' funds(25,702)
The financial statements were approved and authorised for issue by the Director on 25 March 2025, and are signed on its behalf by:
Nicholas Theori
Director
Registered Company No. 15398180
PNGS Properties Limited
Notes to the Financial Statements
for the period ended 31 January 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company was incorporated and started trading 9 January 2024. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
2.Average number of employees

2025
Average number of employees during the year0
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
Additions2,046,7562,046,756
At 31 January 252,046,7562,046,756
Net book value
At 31 January 252,046,7562,046,756
At 08 January 24--
4.Debtors: amounts due within one year

2025

£
Prepayments and accrued income632
Total632
5.Creditors: amounts due within one year

2025

£
Trade creditors / trade payables8,455
Other creditors2,071,900
Accrued liabilities and deferred income2,000
Total2,082,355