REGISTERED NUMBER: 04512648 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PPN PROPERTIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A M North

Mr E H Page

SECRETARY:

Mr A M North

REGISTERED OFFICE:

56 High Street

Neyland

Pembrokeshire

SA73 1TF

REGISTERED NUMBER:

04512648 (England and Wales)

ACCOUNTANTS:

L M Griffiths & Co Limited

Chartered Certified Accountants

1&2 Merlins Court

Winch Lane

Haverfordwest

Pembrokeshire

SA61 1SB

FIXED ASSETS

Property, plant and equipment

5

-

1,036

Investment property

6

1,086,964

1,086,964

1,086,964

1,088,000

CURRENT ASSETS

Debtors

7

1,707

1,636

Cash at bank

129,042

86,633

130,749

88,269

CREDITORS

Amounts falling due within one year

8

29,181

31,377

NET CURRENT ASSETS

101,568

56,892

TOTAL ASSETS LESS CURRENT LIABILITIES

1,188,532

1,144,892

CAPITAL AND RESERVES

Called up share capital

3

3

Fair value reserve

10

215,092

215,092

Retained earnings

973,437

929,797

SHAREHOLDERS' FUNDS

1,188,532

1,144,892

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 28 April 2025 and were signed on its behalf by:

Mr A M North - Director

1.	STATUTORY INFORMATION

PPN Properties Limited 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

These financial statements have been prepared in accordance with the Companies Act 2006 and with the

applicable Accounting Standards. The company continues to benefit from the support of its directors and as such the going concern basis of accounting has been adopted.

Turnover

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

Property, plant and equipment

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

Fixtures and fittings

-

15% on cost

Land and buildings include three office buildings and a industrial unit. Land and buildings are carried at their cost less any accumulated depreciation.

Fixtures and fittings are carried at cost less accumulated depreciation.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Income recognition

The company's income represents rental income received. Revenue is recognised when rents are due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

22,923

DEPRECIATION

At 1 April 2024

21,887

Charge for year

1,036

At 31 March 2025

22,923

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

1,036

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,086,964

NET BOOK VALUE

At 31 March 2025

1,086,964

At 31 March 2024

1,086,964

Fair value at 31 March 2025 is represented by:

£

Valuation in 202

1,086,964

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

1,707

1,636

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Taxation and social security

11,005

13,320

Other creditors

18,176

18,057

29,181

31,377

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

The bank loan, included both in creditors falling due within one year and after more than one year (Notes 8 & 9), is repayable in twelve-monthly instalments over the next five years.

The bank has a floating charge over the company’s assets to secure the bank loan.

10.

RESERVES

Fair

value

reserve

£

At 1 April 2024

and 31 March 2025

215,092

11.	RELATED PARTY DISCLOSURES

Cleddau Insurance Services Limited

A company in which the directors have a controlling interest

During the year the company received rent of £33,600 from Cleddau Insurance Services Limited

(2024 - £33,600).

Cleddau Financial Services Limited

A company in which Mr A M North has a controlling interest

During the year the company received rent of £9,600 from Cleddau Financial Services Limited

(2024 - £9,600). There was also an amount outstanding of £16,857 due to the company at the period end (2024 - £16,857).