IRIS Accounts Production v25.2.0.378 NI009297 director 1.12.23 30.11.24 30.11.24 false true false false true false Fair value model Ordinary A 1.00000 Ordinary B 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0092972023-11-30NI0092972024-11-30NI0092972023-12-012024-11-30NI0092972022-11-30NI0092972022-12-012023-11-30NI0092972023-11-30NI009297ns15:NorthernIreland2023-12-012024-11-30NI009297ns14:PoundSterling2023-12-012024-11-30NI009297ns10:Director12023-12-012024-11-30NI009297ns10:PrivateLimitedCompanyLtd2023-12-012024-11-30NI009297ns10:SmallEntities2023-12-012024-11-30NI009297ns10:AuditExemptWithAccountantsReport2023-12-012024-11-30NI009297ns10:SmallCompaniesRegimeForDirectorsReport2023-12-012024-11-30NI009297ns10:SmallCompaniesRegimeForAccounts2023-12-012024-11-30NI009297ns10:FullAccounts2023-12-012024-11-30NI009297ns10:OrdinaryShareClass12023-12-012024-11-30NI009297ns10:OrdinaryShareClass22023-12-012024-11-30NI009297ns10:RegisteredOffice2023-12-012024-11-30NI009297ns5:CurrentFinancialInstruments2024-11-30NI009297ns5:CurrentFinancialInstruments2023-11-30NI009297ns5:Non-currentFinancialInstruments2024-11-30NI009297ns5:Non-currentFinancialInstruments2023-11-30NI009297ns5:ShareCapital2024-11-30NI009297ns5:ShareCapital2023-11-30NI009297ns5:CapitalRedemptionReserve2024-11-30NI009297ns5:CapitalRedemptionReserve2023-11-30NI009297ns5:RetainedEarningsAccumulatedLosses2024-11-30NI009297ns5:RetainedEarningsAccumulatedLosses2023-11-30NI009297ns5:PlantMachinery2023-11-30NI009297ns5:FurnitureFittings2023-11-30NI009297ns5:MotorVehicles2023-11-30NI009297ns5:PlantMachinery2023-12-012024-11-30NI009297ns5:FurnitureFittings2023-12-012024-11-30NI009297ns5:MotorVehicles2023-12-012024-11-30NI009297ns5:PlantMachinery2024-11-30NI009297ns5:FurnitureFittings2024-11-30NI009297ns5:MotorVehicles2024-11-30NI009297ns5:PlantMachinery2023-11-30NI009297ns5:FurnitureFittings2023-11-30NI009297ns5:MotorVehicles2023-11-30NI009297ns5:UnlistedNon-exchangeTradedns5:CostValuation2023-11-30NI009297ns5:UnlistedNon-exchangeTraded2024-11-30NI009297ns5:UnlistedNon-exchangeTraded2023-11-30NI009297ns5:WithinOneYearns5:CurrentFinancialInstruments2024-11-30NI009297ns5:WithinOneYearns5:CurrentFinancialInstruments2023-11-30NI009297ns10:OrdinaryShareClass12024-11-30NI009297ns10:OrdinaryShareClass22024-11-30
REGISTERED NUMBER: NI009297 (Northern Ireland)















P.Y.S. PROPERTY LIMITED

Unaudited Financial Statements for the Year Ended 30 November 2024






P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


P.Y.S. PROPERTY LIMITED

Company Information
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTOR: Noel Young





REGISTERED OFFICE: 65 Hall Street
Maghera
Co. Londonderry
BT46 5DA





REGISTERED NUMBER: NI009297 (Northern Ireland)





ACCOUNTANTS: Cooper Parry Advisory Limited
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
P.y.s. Property Limited

The following reproduces the text of the report prepared for the director in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Director's Report are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the Company for the year ended 30 November 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company's director that we have done so, and state those matters that we have agreed to state to him in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's director, for our work or for this report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 30 November 2024 your duty to ensure that the Company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the Company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Cooper Parry Advisory Limited
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP


26 August 2025

P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Statement of Financial Position
30 NOVEMBER 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Tangible assets 5 14,477 19,185
Investments 6 500,000 500,000
Investment property 7 1,795,000 1,795,000
2,309,477 2,314,185

CURRENT ASSETS
Stocks 10,300 184,437
Receivables: amounts falling due within
one year

8

461,283

475,410
Cash at bank 122,672 274,980
594,255 934,827
PAYABLES
Amounts falling due within one year 9 (113,637 ) (74,491 )
NET CURRENT ASSETS 480,618 860,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,790,095

3,174,521

PAYABLES
Amounts falling due after more than
one year

10

(882,768

)

(1,261,907

)

PROVISIONS FOR LIABILITIES (3,082 ) (129,188 )
NET ASSETS 1,904,245 1,783,426

CAPITAL AND RESERVES
Called up share capital 11 20,000 20,000
Capital redemption reserve 30,000 30,000
Retained earnings 1,854,245 1,733,426
SHAREHOLDERS' FUNDS 1,904,245 1,783,426

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 November 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.

P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Statement of Financial Position - continued
30 NOVEMBER 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:





Noel Young - Director


P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

P.y.s. Property Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on a going concern basis under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies. No critical judgements or critical accounting estimates have been applied to these financial statements.

The following principal accounting policies have been applied consistently throughout the year:

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction;
- the costs incurred or to be incurred in respect of the transaction can be measured reliably; and
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the costs incurred and the costs to complete the contract can be measured reliably, and
- the stage of completion of the contract at the end of the reporting period can be measured reliably.

P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. ACCOUNTING POLICIES - continued

Property, plant and equipment
Property, plant and equipment under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. The company adds to the carrying amount of an item of property, plant and equipment, the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery - 25% reducing balance
Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

Investment property
Investment property is carried at fair value and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. ACCOUNTING POLICIES - continued

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of income and retained earnings in the year that the company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from proceeds.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£ £ £ £
COST
At 1 December 2023
and 30 November 2024 60,819 21,337 68,758 150,914
DEPRECIATION
At 1 December 2023 52,895 19,566 59,268 131,729
Charge for year 1,981 354 2,373 4,708
At 30 November 2024 54,876 19,920 61,641 136,437
NET BOOK VALUE
At 30 November 2024 5,943 1,417 7,117 14,477
At 30 November 2023 7,924 1,771 9,490 19,185

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£
COST
At 1 December 2023
and 30 November 2024 500,000
NET BOOK VALUE
At 30 November 2024 500,000
At 30 November 2023 500,000

P.Y.S. PROPERTY LIMITED (REGISTERED NUMBER: NI009297)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

7. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 December 2023
and 30 November 2024 1,795,000
NET BOOK VALUE
At 30 November 2024 1,795,000
At 30 November 2023 1,795,000

During the year the directors valued the investment properties to market value.

8. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade receivables 34,553 22,065
Amounts owed by group undertakings 401,913 430,058
Other receivables 24,817 23,287
461,283 475,410

Amounts owed by group undertakings are unsecured, interest free and recoverable on demand.

9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 7,665 7,667
Trade payables 16,534 4,711
Taxation and social security 9,313 14,892
Other payables 80,125 47,221
113,637 74,491

10. PAYABLES: AMOUNTS FALLING DUE AFTER ONE YEAR
2024 2023
£ £
Bank loans 882,768 1,261,907

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
20,000 Ordinary A 1 20,000 20,000
1,216 Ordinary B 1 - -
20,000 20,000

12. RELATED PARTY TRANSACTIONS

The company has taken advantage of the exemption within FRS 102 paragraph 33.1A, not to disclose transactions as it is a wholly owned subsidiary.

13. ULTIMATE CONTROLLING PARTY

Noel Young is the ultimate controlling party by virtue of his shareholding in the company.