Pendulum Properties Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 12234415

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		580,000		592,000

			580,000		592,000
CURRENT ASSETS
Debtors	5	5,200		9,415
Cash at bank and in hand		574		88,357

		5,774		97,772
Creditors: Amounts Falling Due Within One Year	6	(318,118 )		(391,738 )

NET CURRENT ASSETS (LIABILITIES)			(312,344 )		(293,966 )

TOTAL ASSETS LESS CURRENT LIABILITIES			267,656		298,034

Creditors: Amounts Falling Due After More Than One Year	7		(343,194 )		(343,211 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(18,971 )		(18,971 )

NET LIABILITIES			(94,509 )		(64,148 )

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			(94,511 )		(64,150 )

SHAREHOLDERS' FUNDS			(94,509)		(64,148)

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Pendulum Properties Ltd

Balance Sheet (continued)

As At 30 September 2024

For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

James Morrissey

Director

5 September 2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Pendulum Properties Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12234415 . The registered office is 27 Wakehams Hill, Pinner, HA5 3AQ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern. The directors believe that the company would have sufficient resources to continue to trade for foreseeable future.

2.3. Turnover

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales taxes or duty. The following criteria must also be met before revenue is recognised:

Income from investment properties

Rental income from investment properties leased out under an operating lease is recognised in the income statement on a straight-line basis over the term of the lease. Lease incentives granted are recognised as an integral part of the total rental income over the life of the lease.

2.4. Investment Properties

Investment properties, including freehold and long leasehold properties, are those which are held either to earn rental income or for capital appreciation or both. Investment properties include property that is being constructed or developed for future use as an investment property.

Investment properties are initially recognised at cost which includes purchase cost and any directly attributable expenditure.

Investment properties whose fair value can be measured reliably are measured at fair value, based on the market valuations.

Any surplus or deficit on revaluation is recognised in the income statement as a fair value gains and losses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2023: 1)

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Pendulum Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

4. Tangible Assets

	Investment Properties
	£
Cost or Valuation
As at 1 October 2023	592,000
Revaluation	(12,000 )

As at 30 September 2024	580,000

Net Book Value
As at 30 September 2024	580,000

As at 1 October 2023	592,000

The investment properties are valued as at 30 September 2024 by directors of the company based on the assessment of available market information and property condition. The directors believe that their valuation would not be materially different from the professional valuation.

5. Debtors

	2024	2023
	£	£
Due within one year
Prepayments and accrued income	5,200	9,415

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Other creditors	843	70,838
Accruals and deferred income	2,500	6,850
Director's loan account	314,775	314,050

	318,118	391,738

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Bank loans	343,194	343,211

8. Secured Creditors

Of the creditors the following amounts are secured.

	2024		2023
	£		£
Bank loans and overdrafts	343,194		343,211

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Pendulum Properties Ltd

Notes to the Financial Statements (continued)

For The Year Ended 30 September 2024

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

10. Related Party Transactions

Included in creditors due within one year is an amount of £314,775 (2023:£314,050 ) owed to its director. The amount is interest free and repayable on demand.

11. Ultimate Controlling Party

The company's ultimate controlling party is the director of the company by virtue of the ownership of 100% of the issued share capital in the company.

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