P&F PROPERTIES LTD


Directors	GIDLEY, Paul David
	PETCHER, Fay


Registered Address	22 Thornton Way
	Belper
	DE56 0AH


Registered Number	12412848 (England and Wales)

Balance Sheet as at
31 January 2025

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		2,053		2,566
Investment property	4		335,000		315,000
			337,053		317,566
Current assets
Debtors		395		381
Cash at bank and on hand		11,904		12,159
		12,299		12,540
Creditors amounts falling due within one year	5	(87,741)		(87,318)
Net current assets (liabilities)			(75,442)		(74,778)
Total assets less current liabilities			261,611		242,788
Creditors amounts falling due after one year	6		(211,964)		(211,928)
Provisions for liabilities	7		(12,333)		(487)
Net assets			37,314		30,373
Capital and reserves
Called up share capital			2		2
Revaluation reserve			35,829		27,772
Profit and loss account			1,483		2,599
Shareholders' funds			37,314		30,373

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2025, and are signed on its behalf by:

GIDLEY, Paul David
Director
Registered Company No. 12412848

P&F PROPERTIES LTD

Notes to the Financial Statements
for the year ended 31 January 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Reducing balance (%)
	Fixtures and fittings	20

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. For the purpose of determining distributable profits, unrealised fair value gains on investment properties (net of any associated deferred tax) are transferred to a separate non-distributable reserve within equity. Upon disposal of the property, any accumulated fair value gains or losses are transferred back to the profit and loss reserve.

Investment property

The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. For the purpose of determining distributable profits, unrealised fair value gains on investment properties (net of any associated deferred tax) are transferred to a separate non-distributable reserve within equity. Upon disposal of the property, any accumulated fair value gains or losses are transferred back to the profit and loss reserve.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	2		2

3.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 February 24	6,264	6,264
At 31 January 25	6,264	6,264
Depreciation and impairment
At 01 February 24	3,698	3,698
Charge for year	513	513
At 31 January 25	4,211	4,211
Net book value
At 31 January 25	2,053	2,053
At 31 January 24	2,566	2,566

4.	Investment property
	Fair value at 31 January 2025 is represented by a valuation in 2025 £335,000 If the investment properties had not been revalued they would have been included at the historical cost of £287,228 Investment property was valued on an open market basis on 31 January 2025 by the Directors


		£
	Fair value at 01 February 24	315,000
	Fair value adjustments	20,000
	At 31 January 25	335,000

5.	Creditors: amounts due within one year

	2025	2024
	£	£
Taxation and social security	1,360	1,227
Other creditors	85,752	85,492
Accrued liabilities and deferred income	629	599
Total	87,741	87,318

6.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	207,383	207,346
Other creditors	4,581	4,582
Total	211,964	211,928

7.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	12,333	487
Total	12,333	487