| PIONEER HOUSE DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 28TH MARCH 2025 |
| PIONEER HOUSE DEVELOPMENTS LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED |
| 28TH MARCH 2025 |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH MARCH 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Accountants' Report | 7 |
| PIONEER HOUSE DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28TH MARCH 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| BALANCE SHEET |
| 28TH MARCH 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Fair value reserve | 8 |
| Retained earnings |
| 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. |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| BALANCE SHEET - continued |
| 28TH MARCH 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28TH MARCH 2025 |
| 1. | STATUTORY INFORMATION |
| Pioneer House Developments Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. |
| The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
| 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 represents rents and service recharges received from tenants of properties, stated net of value added tax. |
| Income received that relates to a period after the year end is treated as deferred income. |
| Investment property |
| Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
| 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. |
| Financial instruments |
| The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH MARCH 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Provision for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the Statement of Income and Retained Earnings in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the Balance Sheet. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 29th March 2024 |
| Additions |
| Revaluations | 4,186,031 |
| At 28th March 2025 |
| NET BOOK VALUE |
| At 28th March 2025 |
| At 28th March 2024 |
| Fair value at 28th March 2025 is represented by: |
| £ |
| Valuation in 2025 | 4,186,031 |
| Cost | 5,873,969 |
| 10,060,000 |
| If had not been revalued would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 5,873,969 | 5,519,847 |
| Investment properties were valued on a fair value basis on 28th March 2025 by the company directors . |
| PIONEER HOUSE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10681105) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28TH MARCH 2025 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by participating interests | - | 9,000 |
| Other debtors |
| VAT |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Tenants deposits | 138,996 | 125,324 |
| VAT | - | 726 |
| Other creditors |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Amounts owed to participating interests | 3,503,453 | 3,743,453 |
| 8. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| Surplus on revaluation | 3,240,140 |
| At 28th March 2025 |
| 9. | RELATED PARTY DISCLOSURES |
| Winterhill Finance Limited is a company with common directors and ultimate shareholders. |
| At 28 March 2025 the company owed Winterhill Finance Limited £3,503,453 (2024: £3,743,453) stated within creditors. |
| This loan has no fixed repayment terms, No interest was charged in this financial period (2024: 2% above the base rate). |
| 10. | GENERAL INFORMATION |
| Pioneer House Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10681105. The registered office is Winterhill House, Snowdon Drive, Milton Keynes, MK6 1AP. |
| ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| PIONEER HOUSE DEVELOPMENTS LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Pioneer House Developments Limited for the year ended 28th March 2025 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Pioneer House Developments Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Pioneer House Developments Limited and state those matters that we have agreed to state to the Board of Directors of Pioneer House Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Pioneer House Developments Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Pioneer House Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Pioneer House Developments Limited. You consider that Pioneer House Developments Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Pioneer House Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| Trading as Haines Watts |
| First Floor, Woburn Court |
| 2 Railton Road |
| Woburn Rd Ind Est |
| Kempston |
| Bedfordshire |
| MK42 7PN |