REGISTERED NUMBER: 05596130 (England and Wales)

PBDEV LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C E Bruce

P A Rushfirth

REGISTERED OFFICE:

7 Airport West

Lancaster Way

Yeadon

West Yorkshire

LS19 7ZA

REGISTERED NUMBER:

05596130 (England and Wales)

ACCOUNTANTS:

UHY BPR Heaton

Chartered Accountants

Glenewes House

Gate Way Drive

Leeds

West Yorkshire

LS19 7XY

FIXED ASSETS

Tangible assets

4

573

811

Investment property

5

7,800,000

7,800,000

7,800,573

7,800,811

CURRENT ASSETS

Debtors

6

1,169,256

1,191,558

Cash at bank

4,514

4,952

1,173,770

1,196,510

CREDITORS

Amounts falling due within one year

7

2,797,669

2,795,555

NET CURRENT LIABILITIES

(1,623,899

)

(1,599,045

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,176,674

6,201,766

CREDITORS

Amounts falling due after more than one year

8

(6,065,388

)

(6,113,400

)

PROVISIONS FOR LIABILITIES

(82,278

)

(82,278

)

NET ASSETS

29,008

6,088

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

28,908

5,988

29,008

6,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

P A Rushfirth - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of the contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

Straight line over 4 years

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Investment property

Investment property is carried at fair value determined annually by directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at transaction price, except for those financial assets classified as at fair value though profit or loss.

Basic financial instruments

Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors and trade creditors.

Where the arrangement does not constitute a financing transaction, e.g. trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

4,496

Disposals

(3,307

)

At 31 December 2024

1,189

DEPRECIATION

At 1 January 2024

3,685

Charge for year

238

Eliminated on disposal

(3,307

)

At 31 December 2024

616

NET BOOK VALUE

At 31 December 2024

573

At 31 December 2023

811

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

7,800,000

NET BOOK VALUE

At 31 December 2024

7,800,000

At 31 December 2023

7,800,000

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

499,361

Cost

7,300,639

7,800,000

The valuations were made by the directors, on an open market value basis.

6.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

69,210

73,021

Other debtors

22,912

41,404

92,122

114,425

Amounts falling due after more than one year:

Other debtors

1,077,134

1,077,133

Aggregate amounts

1,169,256

1,191,558

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

46,000

41,046

Trade creditors

39,606

27,486

Amounts owed to group undertakings

520,910

559,901

Taxation and social security

33,070

36,566

Other creditors

2,158,083

2,130,556

2,797,669

2,795,555

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

2,786,101

2,834,113

Amounts owed to group undertakings

3,279,287

3,279,287

6,065,388

6,113,400

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

2,832,101

2,875,159

Bank loans are secured against the assets of the company.