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Registration number: 10548122

Prepared for the registrar

Pittville Holdings Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2024

 

Pittville Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Pittville Holdings Limited

Company Information

Directors

G N Swain

L M Perehinec

J B Kinnear

Registered office

97 St. George's Place
Cheltenham
Gloucestershire
GL50 3QB

Accountants

Hazlewoods LLP Staverton Court
Staverton
Cheltenham
GL51 0UX

 

Pittville Holdings Limited

(Registration number: 10548122)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

702,227

702,227

Investments

5

6,844

6,844

 

709,071

709,071

Current assets

 

Debtors

6

23,659

6,850

Cash at bank and in hand

 

10

10

 

23,669

6,860

Creditors: Amounts falling due within one year

7

(154,761)

(231,077)

Net current liabilities

 

(131,092)

(224,217)

Total assets less current liabilities

 

577,979

484,854

Creditors: Amounts falling due after more than one year

7

(135,823)

(150,760)

Net assets

 

442,156

334,094

Capital and reserves

 

Called up share capital

9

100

100

Profit and loss account

442,056

333,994

Shareholders' funds

 

442,156

334,094

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 5 August 2025 and signed on its behalf by:
 


G N Swain
Director


L M Perehinec
Director


J B Kinnear
Director

     
 

Pittville Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
97 St. George's Place
Cheltenham
Gloucestershire
GL50 3QB

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small group.

Critical accounting 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 amounts 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.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

 

Pittville Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Tax

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

No depreciation is provided on freehold buildings. It has been the company's practice to maintain these assets in a continual state of sound repair and to extend and make improvements over the period the asset has been held and, accordingly, the directors consider that the life of the asset is so long, and residual values so high, that their depreciation is insignificant to date.

Intangible assets

Intangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses unless there is an active market for such assets.

Where an active market exists assets are revalued at the balance sheet date and any revaluation increase is recognised in other comprehensive income and accumulated in equity. Any decrease is first recognised in other comprehensive income to the extent that it reverses any historically recognised increase. If any revaluation decrease is in excess of any previously recognised surplus then the excess decrease is recognised in the profit or loss. If a revaluation reverses a loss previously recognised in the profit and loss the increase is initially recognised in the profit and loss until the loss has been fully reversed, any increase in excess of this is recognised in other comprehensive income and accumulated in equity.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 

Pittville Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024


Recognition and measurement
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 or 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.


Impairment
Assets, other than those measured at fair value, 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 or loss as described below.

A non financial asset is impaired where 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.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

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 to be 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 no impairment been recognised.

Borrowings

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 period 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.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Share capital

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.

 

Pittville Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Dividends

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.

 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

4

Tangible assets

Freehold property
£

Improvements to property
 £

Total
£

Cost

At 1 January 2024

676,628

25,599

702,227

At 31 December 2024

676,628

25,599

702,227

Carrying amount

At 31 December 2024

676,628

25,599

702,227

At 31 December 2023

676,628

25,599

702,227

 

5

Investments

Shares in group undertakings

£

Cost

At 1 January 2024

6,844

At 31 December 2024

6,844

Carrying amount

At 31 December 2024

6,844

At 31 December 2023

6,844

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

The History Press Limited

97 St. Georges Place
Cheltenham
Gloucestershire
GL50 3QB

Ordinary A, B & C shares

100%

100%

 

Pittville Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

6

Debtors

2024
 £

2023
 £

Amounts owed by related parties

21,432

6,850

Prepayments

2,227

-

 

23,659

6,850

 

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

140,599

217,981

Accruals and deferred income

 

13,821

12,694

Other creditors

 

341

402

 

154,761

231,077

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

135,823

150,760

 

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

33,263

45,969

Other borrowings

107,336

172,012

140,599

217,981

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

135,823

150,760

Bank borrowings
Bank borrowings are secured by virtue of a fixed charge over the company's freehold land and buildings.

 

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100