For the financial year ended 24 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

P & L Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 1, St Stephens Court, 15-17 St Stephens Road, Bournemouth, Dorset, BH2 6LA.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

Turnover represents property rentals receivable, excluding value added tax.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

No depreciation is provided on investment properties. Properties are revalued annually with surpluses taken to an investments revaluation reserve.

Deficits in excess of prior revaluation surpluses on the same property are charged to the profit and loss account.

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss

The tax expense represents the sum of the tax currently payable and deferred tax.

Corporation tax is provided on taxable profits at the current rate.

Deferred taxation (which arises from differences in timing of the recognition of items, principally depreciation, in the accounts and by the tax authorities) are calculated on the liability method.

The average monthly number of persons (including directors) employed by the company during the year was:

If investment property had not been revalued it would have been included at the following historical cost:

Investment property was valued on an open market basis on 24 March 2025 by the director.

The director and members of his immediate family and their trustees control the company by virtue of a controlling interest of 100% of the issue ordinary share capital.