Company registration number 11718001 (England and Wales)
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 6
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
235,090
235,090
Current assets
Debtors
4
8,480
7,899
Cash at bank and in hand
33,878
30,189
42,358
38,088
Creditors: amounts falling due within one year
5
(142,465)
(134,451)
Net current liabilities
(100,107)
(96,363)
Total assets less current liabilities
134,983
138,727
Creditors: amounts falling due after more than one year
6
(142,631)
(143,474)
Net liabilities
(7,648)
(4,747)
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
(7,748)
(4,847)
Total equity
(7,648)
(4,747)
The notes on pages 3 to 6 form part of these financial statements.
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 1 May 2025 and are signed on its behalf by:
Mrs W A Gartlan
Director
Company registration number 11718001 (England and Wales)
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information
Pershore Investments (Residential) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 13 Portland Road, Edgbaston, Birmingham, West Midlands, B16 9HN. The principal place of business is Four Hills, Throckmorton Road, Hill, Pershore, United Kingdom, WR10 2PP.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Revenue comprises rent received or receivable from customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
No depreciation
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Freehold land and buildings
£
Cost
At 1 January 2024 and 31 December 2024
235,090
Depreciation and impairment
At 1 January 2024 and 31 December 2024
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3
Tangible fixed assets
Freehold land and buildings
£
(Continued)
- 5 -
Carrying amount
At 31 December 2024
235,090
At 31 December 2023
235,090
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Unpaid share capital
100
100
Prepayments and accrued income
8,380
7,799
8,480
7,899
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
4,105
4,908
Other creditors
134,063
127,313
Accruals and deferred income
4,297
2,230
142,465
134,451
The bank loan is secured by a charge over the fixed assets of the company.
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
142,631
143,474
Creditors which fall due after five years are payable as follows:
Payable by instalments
130,979
121,866
The bank loan is secured by a charge over the fixed assets of the company.
The bank loan is a mortgage advance provided in May 2019 by Precise Mortgages for a term of 25 years, at an initial interest rate of 3.79% for the first 5 years. A Rate Switch was provided in May 2024 by Precise Mortgages at an initial interest rate of 6.09% for the next 2 years and then reverting to a variable interest rate, which is a margin above the Bank of England Base Rate and will not go below a floor of 3.25%, for the remaining term of the loan.
PERSHORE INVESTMENTS (RESIDENTIAL) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100