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REGISTERED NUMBER: 02056742 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Pinefold Limited

Pinefold Limited (Registered number: 02056742)






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


Pinefold Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: Mr R A Nicholas





SECRETARY: Mrs L E Nicholas





REGISTERED OFFICE: Emral House
11 Chester Road
Wrexham
LL11 2SA





REGISTERED NUMBER: 02056742 (England and Wales)





ACCOUNTANTS: Guy Walmsley Limited
3 Grove Road
Wrexham
LL11 1DY

Pinefold Limited (Registered number: 02056742)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 983,462 999,565
Investment property 5 792,629 413,340
1,776,091 1,412,905

CURRENT ASSETS
Stocks 2,800 2,800
Debtors 6 31,894 11,062
Cash at bank and in hand 49,386 96,509
84,080 110,371
CREDITORS
Amounts falling due within one year 7 233,000 184,119
NET CURRENT LIABILITIES (148,920 ) (73,748 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,627,171

1,339,157

CREDITORS
Amounts falling due after more than one
year

8

(328,033

)

(56,672

)

PROVISIONS FOR LIABILITIES (27,945 ) (18,402 )
NET ASSETS 1,271,193 1,264,083

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 620,835 620,835
Capital redemption reserve (849,950 ) (849,950 )
Retained earnings 1,500,258 1,493,148
SHAREHOLDERS' FUNDS 1,271,193 1,264,083

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Pinefold Limited (Registered number: 02056742)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 August 2025 and were signed by:





Mr R A Nicholas - Director


Pinefold Limited (Registered number: 02056742)

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

1. STATUTORY INFORMATION

Pinefold Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 4% on cost
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

The freehold property was valued on an open market basis on 25th May 2023 by the director.

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.

The investment property is held to earn rental income. Investment property is initially measured at cost and the directors are of the opinion that this is also it's fair value as at the year end.
Subsequent investment properties are measured at fair value. Investment property valuations are based on open market value and deferred tax is provided on these movements.Gains and losses arising from changes in the fair value are included in the Income Statement in the period in which they arise.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Pinefold Limited (Registered number: 02056742)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 60 (2023 - 64 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2024 1,700,000 497,248 21,012 28,454 2,246,714
Additions - 6,810 24,495 1,067 32,372
At 31 December 2024 1,700,000 504,058 45,507 29,521 2,279,086
DEPRECIATION
At 1 January 2024 799,682 403,859 20,914 22,694 1,247,149
Charge for year 30,600 10,020 6,148 1,707 48,475
At 31 December 2024 830,282 413,879 27,062 24,401 1,295,624
NET BOOK VALUE
At 31 December 2024 869,718 90,179 18,445 5,120 983,462
At 31 December 2023 900,318 93,389 98 5,760 999,565

Included in cost or valuation of land and buildings is freehold land of £ 170,000 (2023 - £ 170,000 ) which is not depreciated.

Pinefold Limited (Registered number: 02056742)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 December 2024 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2009 695,542 - - - 695,542
Cost 1,004,458 504,058 45,507 29,521 1,583,544
1,700,000 504,058 45,507 29,521 2,279,086

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.24 31.12.23
£    £   
Cost 1,004,458 1,004,458
Aggregate depreciation 5,712,888 5,712,888

Value of land in freehold land and buildings 75,000 75,000

The freehold property was valued on an open market basis on 25 May 2023 by the director. .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 413,340
Additions 379,289
At 31 December 2024 792,629
NET BOOK VALUE
At 31 December 2024 792,629
At 31 December 2023 413,340

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 31,894 11,062

Pinefold Limited (Registered number: 02056742)

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
£    £   
Bank loans and overdrafts 58,853 22,196
Trade creditors 18,933 8,821
Tax 70,262 100,307
Social security and other taxes 24,950 24,195
Other creditors 24,518 16,955
Accrued expenses 35,484 11,645
233,000 184,119

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans - 2-5 years 235,414 33,282
Bank loans > 5 years 92,619 23,390
328,033 56,672

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years 92,619 23,390

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Bank loans 386,886 78,868

The bank loans and overdraft are secured by a fixed charge on the company's trading property
at 11 Chester Road , Wrexham , LL11 2SA and also the investment property at Tan Y Coed, 2 Powell Road, Wrexham , LL12 7AE. There is also a personal guarantee given by Mr R A Nicholas for £50,000.

10. OTHER FINANCIAL COMMITMENTS

The total future commitments of operating leases as at 31st December 2024 was £1,008 (2023 £1,008 ).

11. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R A Nicholas.