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Registered number: 14506767 PCP V Godalming Limited Financial statements Information for filing with the registrar For the year ended 31 December 2024
PCP V Godalming Limited Registered number: 14506767 Balance sheet As at 31 December 2024
| 2024 | 2023
Note | £ | £
Fixed assets |  |  |
Investment property | 4 | 6,280,000 | 6,145,150
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 189,663 | 258,744
Cash at bank and in hand |  | 140,564 | 214,639
|  | 330,227 | 473,383
Creditors: amounts falling due within one year | 6 | (4,046,145) | (3,905,002)
Net current liabilities |  | (3,715,918) | (3,431,619)
Total assets less current liabilities |  | 2,564,082 | 2,713,531
Creditors: amounts falling due after more than one year |  | (3,370,007) | (3,421,348)
Net liabilities |  | (805,925) | (707,817)
Capital and reserves |  |  |
Called up share capital |  | 1 | 1
Profit and loss account |  | (805,926) | (707,818)
|  | (805,925) | (707,817)
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PCP V Godalming Limited Registered number: 14506767 Balance sheet (continued) As at 31 December 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
................................................ M J Garner
Director
Date: 11 September 2025
The notes on pages 4 to 7 form part of these financial statements. Page 2
PCP V Godalming Limited Registered number: 14506767 Statement of changes in equity For the year ended 31 December 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
Loss for the year | - | (707,818) | (707,818)
Shares issued during the year | 1 | - | 1
At 31 December 2023 | 1 | (707,818) | (707,817)
Loss for the year | - | (98,108) | (98,108)
At 31 December 2024 | 1 | (805,926) | (805,925)
| The notes on pages 4 to 7 form part of these financial statements.
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PCP V Godalming Limited Notes to the financial statements For the year ended 31 December 2024
1. | General information
PCP V Godalming Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14506767 and the registered office address is 9th Floor, Ship Canal House, 98 King Street, Manchester, M2 4WU. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. Determining the fair value of investment property is a key judgement.
| 2.4 | Revenue
Rental income is recognised on a straight line basis over the term of the lease. Lease incentives are recognised over the term of the lease.
| 2.5 | Investment property
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. Page 4
PCP V Godalming Limited Notes to the financial statements For the year ended 31 December 2024 2.Accounting policies (continued)
| 2.6 | Financial Instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. Financial assets that are measured at cost and amortised cost are assesed at the end of each reporting period for objective evidence of impairment.If objective evidence of impairment is found, an impairment loss is recognised in the income statement. Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled.
| 2.7 | Taxation
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
3. | Employees
| The average monthly number of employees,during the year was 0 (2023 - 0).
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PCP V Godalming Limited Notes to the financial statements For the year ended 31 December 2024
4. | Investment property
|  | Investment property
|  | £
| Valuation |
| At 1 January 2024 | 6,145,150
| Gain on revaluation | 134,850
| At 31 December 2024 | 6,280,000
The fair value as at 31 December 2024 has been determined by the directors. The historic cost of the investment property was £7,000,586 (2023: £7,000,586).
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 95,388 | 105,863
| Amounts owed by related companys | 56,715 | 54,385
| Other debtors | - | 98,496
| Prepayments and accrued income | 37,560 | -
|  | 189,663 | 258,744
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Commercial property loan | 70,228 | 70,228
| Trade creditors | 45,938 | 6,349
| Related company loans | 3,642,660 | 3,489,364
| Other taxation and social security | 32,729 | 76,986
| Other creditors | 91,175 | 262,075
| Accruals and deferred income | 163,415 | -
|  | 4,046,145 | 3,905,002
| The commercial property loan is secured over the assets of the company by way of a fixed and floating charge.
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PCP V Godalming Limited Notes to the financial statements For the year ended 31 December 2024
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Commercial property loan | 3,370,007 | 3,421,348
|  | 3,370,007 | 3,421,348
| The commercial property loan is secured over the assets of the company by way of a fixed and floating charge.
8. | Contingent liabilities
A charge is held over investment property (and other properties owned by other entities) in relation to a loan facility taken out by this company and by other entities. The loan balance as at 31 December 2024 was £38,054,518 (2023: £38,883,276).
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