Registration number: 03494768

P G Properties Ltd

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 14

P G Properties Ltd

(Registration number: 03494768)
Balance Sheet as at 31 December 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	-	17,520
Investment property	5	4,070,000	4,070,000
Investments	6	98	658,097
		4,070,098	4,745,617
Current assets
Debtors	7	218,122	6,080,436
Cash at bank and in hand		17	4,314
		218,139	6,084,750
Creditors: Amounts falling due within one year	8	(9,732,654)	(6,404,241)
Net current liabilities		(9,514,515)	(319,491)
Total assets less current liabilities		(5,444,417)	4,426,126
Creditors: Amounts falling due after more than one year	8	-	(5,931,769)
Provisions for liabilities		(118,975)	(118,975)
Net liabilities		(5,563,392)	(1,624,618)
Capital and reserves
Called up share capital		100	100
Retained earnings		(5,563,492)	(1,624,718)
Shareholders' deficit		(5,563,392)	(1,624,618)

P G Properties Ltd

(Registration number: 03494768)
Balance Sheet as at 31 December 2023

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 October 2025 and signed on its behalf by:
 

Mrs F E Bradley Company secretary and director

P G Properties Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Office 1 Number One Bristol
Lewins Mead
Bristol
BS1 2NJ
UK

These financial statements were authorised for issue by the Board on 20 October 2025.

2	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Group accounts not prepared

The financial statements contain information about P G Properties Ltd as an individual company and do not contain cosolidated information as the parent of a group. The company is exempt under Section 399 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as the group is small.

Going concern

The directors have assessed the company's ability to continue as a going concern and are satisfied that it is appropriate to prepare the financial statements on a going concern basis.

To satisfy themselves that the company is a going concern, the directors have prepared cash flow forecasts based upon their assessments of the amount and timing of future cash flows. The forecasts show that the company and its subsidiaries will be able to operate within agreed borrowing facilities for the foreseeable future.

Accordingly, the directors have a reasonable expectation that the company will continue in operational existence for the forseeable future and at least 12 months from the date of approval of these financial statements.

P G Properties Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture and fittings	20% reducing balance
Equipment	15% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

P G Properties Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

P G Properties Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2022 - 3).

4	Tangible assets

	Furniture, fittings and equipment £	Plant and machinery £	Total £
Cost or valuation
At 1 January 2023	48,608	36,360	84,968
At 31 December 2023	48,608	36,360	84,968
Depreciation
At 1 January 2023	33,125	34,323	67,448
Charge for the year	15,483	2,037	17,520
At 31 December 2023	48,608	36,360	84,968
Carrying amount
At 31 December 2023	-	-	-
At 31 December 2022	15,483	2,037	17,520

5	Investment properties

	2023 £
At 1 January	4,070,000
At 31 December	4,070,000

There has been no valuation of investment property by an independent valuer.

P G Properties Ltd

Notes to the Financial Statements for the Year Ended 31 December 2023

6	Investments

	2023 £	2022 £
Investments in subsidiaries	98	658,097