P_G__E_B_Oliver_Limited_31_Dec_2024_companies_house_set_of

P G & E B Oliver Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	350,000		350,000
Investments	6	120,010		120,010
		470,010		470,010
Current assets
Cash at bank and in hand		5,061		1,129
Creditors: amounts falling due within one year	7	(164,002	)	(161,992	)
Net current liabilities		(158,941	)	(160,863	)
Total assets less current liabilities		311,069		309,147
Provisions for liabilities		(29,646	)	(29,646	)
Net assets		281,423		279,501
Capital and reserves
Called up share capital		100		100
Share premium		179,900		179,900
Profit and loss account		101,423		99,501
Shareholders funds		281,423		279,501

For the year ending

31 December 2024

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges their responsibilities for complying with the requirements of the Act 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.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

24 September 2025

, and are signed on behalf of the board by:

P Oliver

Director

Company registration number:

03888398

P G & E B Oliver Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

10-12 Market Street

Cleethorpes

North East Lincolnshire

DN35 8LY

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.

The

financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for the rental of the company's freehold property.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings

Not depreciated

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

4 Average number of employees

The average number of persons employed by the company during the year was

(2023:

1.00

5 Tangible assets

	Land and buildings
	£
Cost
At 1 January 2024 and 31 December 2024	350,000
Depreciation
At 1 January 2024 and 31 December 2024	-
Carrying amount
At 31 December 2024	350,000
At 31 December 2023	350,000

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Land and buildings	Land and buildings
	2024	2023
	£	£
Aggregate historical cost	231,417	231,417
Carrying amount	231,417	231,417

Investment property

Included in land and buildings are the following amounts in relation to investment properties:

	2024
	£
Carrying value at 1 January 2024 and 31 December 2024	350,000

The investment property was revalued by the directors in December 2006. The Directors do not consider the property to require a revaluation in the current year.

6 Investments

	Shares in group undertakings and participating interests
	£
Cost
At 1 January 2024	120,010
At 31 December 2024	120,010
Impairment
At 1 January 2024 and 31 December 2024	-
Carrying amount
At 31 December 2024	120,010
At 31 December 2023	120,010

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	156,006	155,346
Taxation and social security	6,874	5,785
Other creditors	1,122	861
	164,002	161,992

8 Guarantees and other financial commitments

A property owned by PG & EB Oliver Limited has been given as security against an overdraft to an associated company, Oliver Bros (Restaurant) Limited.