Company Registration No. 05446151 (England and Wales)
JOHN PRIDE RESIDENTIAL LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
JOHN PRIDE RESIDENTIAL LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JOHN PRIDE RESIDENTIAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investment properties
4
3,405,000
3,515,000
Current assets
Debtors
5
29,326
Cash at bank and in hand
323,147
164,392
323,147
193,718
Creditors: amounts falling due within one year
6
(5,247)
(15,031)
Net current assets
317,900
178,687
Total assets less current liabilities
3,722,900
3,693,687
Creditors: amounts falling due after more than one year
7
(1,298,581)
(1,287,529)
Provisions for liabilities
(133,668)
(118,977)
Net assets
2,290,651
2,287,181
Capital and reserves
Called up share capital
95
96
Revaluation reserve
558,283
520,125
Capital redemption reserve
5
4
Profit and loss reserves
1,732,268
1,766,956
Total equity
2,290,651
2,287,181
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 9 July 2025 and are signed on its behalf by:
T J Robinson
Director
Company Registration No. 05446151
JOHN PRIDE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information
John Pride Residential Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” “FRS 102” and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents rental income from investment properties, which is recognised on an accruals basis, with any outstanding rental income at the year end included within trade debtors. Any rent received which relates to future periods is included as deferred income.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. This is then transferred to revaluation reserve as the gain is non-distributable.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
JOHN PRIDE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are 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.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
1
1
4
Investment property
2025
£
Fair value
At 1 April 2024
3,515,000
Disposals
(215,000)
Revaluations
105,000
At 31 March 2025
3,405,000
The investment portfolio was stated at open market value, as valued by the director. The historical cost of properties totalled £2,713,049 (2024 £2,875,899). The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
29,326
JOHN PRIDE RESIDENTIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 4 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
350
Taxation and social security
8,368
Other creditors
5,247
6,313
5,247
15,031
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,298,581
1,287,529
The long-term loans are secured by a fixed and floating charge over the investment properties of the company, and bears fixed rates of 5.69% and 6.19%.
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
133,668
118,977
9
Debentures
Aldermore Bank PLC has a fixed and floating charge over the properties held within the accounts.