2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-12-01 Sage Accounts Production Advanced 2024 - FRS102_2024 2,250,000 650,000 1,600,000 1,600,000 2,250,000 xbrli:pure xbrli:shares iso4217:GBP 03789069 2023-12-01 2024-11-30 03789069 2024-11-30 03789069 2023-11-30 03789069 2022-12-01 2023-11-30 03789069 2023-11-30 03789069 2022-11-30 03789069 core:LandBuildings 2023-12-01 2024-11-30 03789069 core:FurnitureFittings 2023-12-01 2024-11-30 03789069 core:MotorVehicles 2023-12-01 2024-11-30 03789069 bus:Director1 2023-12-01 2024-11-30 03789069 core:LandBuildings 2023-11-30 03789069 core:FurnitureFittings 2023-11-30 03789069 core:MotorVehicles 2023-11-30 03789069 core:MotorVehicles 2024-11-30 03789069 core:WithinOneYear 2024-11-30 03789069 core:WithinOneYear 2023-11-30 03789069 core:AfterOneYear 2024-11-30 03789069 core:AfterOneYear 2023-11-30 03789069 core:ShareCapital 2024-11-30 03789069 core:ShareCapital 2023-11-30 03789069 core:RetainedEarningsAccumulatedLosses 2024-11-30 03789069 core:RetainedEarningsAccumulatedLosses 2023-11-30 03789069 core:CostValuation core:Non-currentFinancialInstruments 2023-11-30 03789069 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-11-30 03789069 core:CostValuation core:Non-currentFinancialInstruments 2024-11-30 03789069 core:Non-currentFinancialInstruments 2024-11-30 03789069 core:Non-currentFinancialInstruments 2023-11-30 03789069 core:LandBuildings 2023-11-30 03789069 bus:SmallEntities 2023-12-01 2024-11-30 03789069 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 03789069 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 03789069 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 03789069 bus:FullAccounts 2023-12-01 2024-11-30
COMPANY REGISTRATION NUMBER: 03789069
PERIOD PROPERTY DEVELOPMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 November 2024
PERIOD PROPERTY DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
6,000
558,000
Investments
6
1,600,000
2,250,000
-------------
-------------
1,606,000
2,808,000
Current assets
Stocks
2,977,824
Debtors
7
100,000
Cash at bank and in hand
488,395
425
----------
-------------
588,395
2,978,249
Creditors: amounts falling due within one year
8
50,753
687,134
----------
-------------
Net current assets
537,642
2,291,115
-------------
-------------
Total assets less current liabilities
2,143,642
5,099,115
Creditors: amounts falling due after more than one year
9
754,208
3,738,602
Provisions
Taxation including deferred tax
101,500
142,667
-------------
-------------
Net assets
1,287,934
1,217,846
-------------
-------------
PERIOD PROPERTY DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
50,000
50,000
Profit and loss account
1,237,934
1,167,846
-------------
-------------
Shareholders funds
1,287,934
1,217,846
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 August 2025 , and are signed on behalf of the board by:
S B Ragosta
Director
Company registration number: 03789069
PERIOD PROPERTY DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The actual outcome may diverge from these estimates if other assumptions are made or other conditions arise. Significant judgements: No judgements have been made which would have a significant effect on the amounts recognised in the financial statements. Key sources of estimation uncertainty: Investment property valuations - investment properties are revalued each year end by the director at open market value.
Revenue recognition
Turnover represents gross rental income, net of value added tax where applicable, and is recognised on an accruals basis.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Land & Buildings
-
2% straight line
Fixtures and Fittings
-
25% reducing balance
Motor Vehicles
-
25% reducing balance
Investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued by the directors to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company only holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at face value. Financial liabilities - trade creditors, accruals and other creditors are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instrument disclosure definition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 3 ).
5. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2023
600,000
10,721
15,754
626,475
Additions
8,000
8,000
Disposals
( 600,000)
( 10,721)
( 610,721)
----------
---------
---------
----------
At 30 November 2024
23,754
23,754
----------
---------
---------
----------
Depreciation
At 1 December 2023
42,000
10,721
15,754
68,475
Charge for the year
2,000
2,000
Disposals
( 42,000)
( 10,721)
( 52,721)
----------
---------
---------
----------
At 30 November 2024
17,754
17,754
----------
---------
---------
----------
Carrying amount
At 30 November 2024
6,000
6,000
----------
---------
---------
----------
At 30 November 2023
558,000
558,000
----------
---------
---------
----------
6. Investments
Investment property
£
Cost
At 1 December 2023
2,250,000
Disposals
( 650,000)
-------------
At 30 November 2024
1,600,000
-------------
Impairment
At 1 December 2023 and 30 November 2024
-------------
Carrying amount
At 30 November 2024
1,600,000
-------------
At 30 November 2023
2,250,000
-------------
The carrying value of investment property is considered annually by the directors.
7. Debtors
2024
2023
£
£
Other debtors
100,000
----------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
Corporation tax
50,753
575
Other creditors
676,559
---------
----------
50,753
687,134
---------
----------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
754,208
3,738,602
----------
-------------
Bank loans are secured on the property portfolio.
10. Related party transactions
The company was under the control of the directors throughout the current and previous period. The directors rent a property from the company at an annual charge of £36,000. No other transactions with related parties were undertaken such as are required to be disclosed under FRS 102.