| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Preston Property Portfolio Limited |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2024 |
| for |
| Preston Property Portfolio Limited |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Preston Property Portfolio Limited |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Suites 5 & 6 The Printworks |
| Hey Road |
| Barrow |
| Clitheroe |
| Lancashire |
| BB7 9WB |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Balance Sheet |
| 31 December 2024 |
| 31.12.24 | 31.12.23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Investments | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Undistributable reserve | 10 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Balance Sheet - continued |
| 31 December 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Preston Property Portfolio Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents rents receivable. |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Fair value at 31 December 2024 is represented by: |
| £ |
| Valuation in 2005 | 165,145 |
| Valuation in 2014 | (35,000 | ) |
| Valuation in 2020 | 35,000 |
| Cost | 34,855 |
| 200,000 |
| If Freehold property had not been revalued it would have been included at the following historical cost: |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Cost | 34,855 | 34,855 |
| The freehold property was valued on an open market basis basis on 5 June 2023 by Garside Waddingham . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Prepayments |
| 6. | CURRENT ASSET INVESTMENTS |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Listed investments | 113,603 | 94,032 |
| Unlisted investments | 296,929 | 402,341 |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Corporation tax |
| Directors' current accounts | 8,571 | 8,571 |
| Accrued expenses |
| 8. | PROVISIONS FOR LIABILITIES |
| 31.12.24 | 31.12.23 |
| £ | £ |
| Deferred tax | 22,798 | 20,268 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Charge to Income Statement during year |
| Balance at 31 December 2024 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
| value: | £ | £ |
| Ordinary | £1 | 11,500 | 11,500 |
| A Ordinary | £1 | 50 | 50 |
| 11,550 | 11,550 |
| 10. | RESERVES |
| Undistributable |
| reserve |
| £ |
| At 1 January 2024 |
| Fair value transfer | 20,484 |
| Revaluation realised | (9,539 | ) |
| At 31 December 2024 |
| Preston Property Portfolio Limited (Registered number: 00958711) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 11. | ULTIMATE CONTROLLING PARTY |