REGISTERED NUMBER: 03157157 (England and Wales)

PLYMSTOCK PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R J Larson

REGISTERED OFFICE:

Fort Stamford Country Club

Jennycliff

PLYMOUTH

Devon

PL9 9TU

REGISTERED NUMBER:

03157157 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

7 Sandy Court

Ashleigh Way

Langage Business Park

Plymouth

Devon

PL7 5JX

FIXED ASSETS

Tangible assets

5

4,718

5,024

Investment property

6

8,634,595

8,065,000

8,639,313

8,070,024

CURRENT ASSETS

Debtors

760,302

713,596

Cash at bank

107,873

19,168

868,175

732,764

CREDITORS

Amounts falling due within one year

4,253,365

2,519,185

NET CURRENT LIABILITIES

(3,385,190

)

(1,786,421

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,254,123

6,283,603

CREDITORS

Amounts falling due after more than one year

-

(1,143,860

)

PROVISIONS FOR LIABILITIES

(389,100

)

(388,000

)

NET ASSETS

4,865,023

4,751,743

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

8

4,864,023

4,750,743

4,865,023

4,751,743

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 director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 December 2025 and were signed by:

R J Larson - Director

1.	STATUTORY INFORMATION

Plymstock 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 statement have been prepared under the historical cost convention.

The directors believe that the company is experiencing strong levels of profitability and that is it well placed to managed its business risks successfully. Accordingly they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover represents rents received from property rentals. This is recognised in accordance with the rental agreements for each property.

Tangible fixed assets

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

Plant and machinery - 15% reducing balance

Motor vehicles - 25% reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Investment property

In accordance with FRS 102, Investment properties are included in the financial statements initially at cost, and are subsequently reviewed at each reporting date to ensure they are carried at fair value in the financial statements.

The fair value of the properties were confirmed by annual reviews performed by the directors at each reporting date.

The directors consider the value of other similar properties on the market at the reporting date, together with a consideration of general market trends when reviewing the value of investment property.

These values are considered approximate to the fair value of the investment properties.

Any movements in the fair value of investment properties at each reporting date are recognised in the profit and loss account.

Taxation

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Pension costs and other post-retirement benefits

Short- term employee benefits and contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.

Provisions for liabilities

Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary cost payable for the period of absence.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

29,969

Additions

813

At 31 March 2025

30,782

DEPRECIATION

At 1 April 2024

24,945

Charge for year

1,119

At 31 March 2025

26,064

NET BOOK VALUE

At 31 March 2025

4,718

At 31 March 2024

5,024

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

8,065,000

Additions

704,595

Disposals

(135,000

)

At 31 March 2025

8,634,595

NET BOOK VALUE

At 31 March 2025

8,634,595

At 31 March 2024

8,065,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2024

40,000

Valuation in 2023

430,000

Valuation in 2022

989,278

Valuation in 2018

329,940

Valuation in 2017

180,515

Valuation in 2016

463,595

Valuation in 2015

410,499

Cost

5,790,768

8,634,595

7.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

4,089,295

3,503,592

The loans are secured against the investment properties to which they relate.

8.

RESERVES

Retained

earnings

£

At 1 April 2024

4,750,743

Profit for the year

113,280

At 31 March 2025

4,864,023

Within retained earnings are non-distributable reserves in relation to profits from revaluations not yet realised and said reserves total £2,457,927 at the year-end (2024: £2,499,779).

The value of distributable reserves as at the year end are £2,406,096 (2024: £2,250,964).

9.	POST BALANCE SHEET EVENTS

After the end of the financial year, the company re-financed all of its existing external finance into a single interest only loan agreement.