Company registration number 03540058 (England and Wales)
POWYS PROPERTIES LIMITED
Unaudited Financial Statements
for the Year Ended 31 March 2025
POWYS PROPERTIES LIMITED
Contents
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
POWYS PROPERTIES LIMITED
Company Information
- 1 -
Directors
Mr D Edwards
Mr J R Edwards
Mr S C Lousada
Company number
03540058
Registered office
Bowling Green Lane
Knighton
Powys
UK
LD7 1DR
Accountants
RCH Accountants Limited
Wellfield House
Temple Street
Llandrindod Wells
Powys
LD1 5HG
POWYS PROPERTIES LIMITED
Balance Sheet
As at 31 March 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
16,244
18,049
Investment property
5
1,840,157
1,840,157
1,856,401
1,858,206
Current assets
Debtors
6
33,466
49,859
Cash at bank and in hand
162,275
111,548
195,741
161,407
Creditors: amounts falling due within one year
7
(125,729)
(95,294)
Net current assets
70,012
66,113
Total assets less current liabilities
1,926,413
1,924,319
Creditors: amounts falling due after more than one year
8
(200,000)
(200,000)
Provisions for liabilities
(16,719)
(16,452)
Net assets
1,709,694
1,707,867
Capital and reserves
Called up share capital
200,000
200,000
Profit and loss reserves
1,509,694
1,507,867
Total equity
1,709,694
1,707,867

The notes on pages 4 to 8 form part of these financial statements.

POWYS PROPERTIES LIMITED
Balance Sheet
As at 31 March 2025
- 3 -

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 28 August 2025 and are signed on its behalf by:
Mr J R Edwards
Director
Company registration number 03540058 (England and Wales)
POWYS PROPERTIES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2025
- 4 -
1
Accounting policies
Company information

Powys Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bowling Green Lane, Knighton, Powys, UK, LD7 1DR.

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 a mounts 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 sales of goods or services provided to 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 goods or 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.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The company recognises revenue from the following major sources:

- Rental Income

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Rental Income

Rental income is recognised in the period to which it relates.

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:

Plant and equipment
10% on reducing balance

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
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

POWYS PROPERTIES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2025
1
Accounting policies
- 5 -
1.5
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.

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.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 at transaction price.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

POWYS PROPERTIES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2025
1
Accounting policies
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
POWYS PROPERTIES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2025
- 7 -
4
Tangible fixed assets
Plant and equipment
£
Cost
At 1 April 2024 and 31 March 2025
48,916
Depreciation and impairment
At 1 April 2024
30,867
Depreciation charged in the year
1,805
At 31 March 2025
32,672
Carrying amount
At 31 March 2025
16,244
At 31 March 2024
18,049
5
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
1,840,157

There has been no valuation of investment property by an independent valuer, but in the opinion of the directors, fair value is not significantly different to cost.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
26,066
41,495
Prepayments and accrued income
7,400
8,364
33,466
49,859
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
13,318
2,564
Corporation tax
38,533
36,706
Other taxation and social security
15,534
14,735
Government grants
10,881
10,881
Accruals and deferred income
47,463
30,408
125,729
95,294
POWYS PROPERTIES LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2025
- 8 -
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Redeemable preference shares
200,000
200,000
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