Pmg Cheltenham Rentals Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Pmg Cheltenham Rentals Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 14117193 . The registered office is The Walnuts Gretton Fields, Gretton, Cheltenham, Gloucestershire, England, GL54 5HH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention except for, where disclosed in these accounting policies, certain items have been shown at fair value, and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

2.2. Going Concern Disclosure

The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.

2.3. Significant judgements and estimations

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

No significant judgements have been made by management in preparing these financial statements.

2.4. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.5. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

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Pmg Cheltenham Rentals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Financial Instruments

Classification

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment

Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below. A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recover

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.8. 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.

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Pmg Cheltenham Rentals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.9. Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. 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 debtors.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 1 (2024: 1)

4. Investment Property

	2025
	£
Fair Value
As at 1 April 2024	277,000
Additions	11,373

As at 31 March 2025	288,373

The value of the property at 31 March 2025 is based on the directors' best estimate, which they consider to be an accurate reflection of its current fair value.

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,840	5,533

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	65,422	74,504
Taxation and social security	3,331	2,928

	68,753	77,432

Included in other creditors is a loan of £65,422 (2024 - £74,504) due to a director of the company. The loan is interest free and has no fixed repayment terms.

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Other creditors	202,699	202,725

Included in other creditors is a loan of £202,699 (2024 - £202,725) which falls due for repayment in September 2052 and bears interest at a rate of 4.35%. This facility is secured by a fixed charge over the property to which it relates and imposes a negative pledge which prohibits the company from creating any security interests over the asset pledged as security.

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Pmg Cheltenham Rentals Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	1	1

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		288,373		277,000

			288,373		277,000
CURRENT ASSETS
Debtors	5	1,840		5,533
Cash at bank and in hand		6,265		8,449

		8,105		13,982
Creditors: Amounts Falling Due Within One Year	6	(68,753 )		(77,432 )

NET CURRENT ASSETS (LIABILITIES)			(60,648 )		(63,450 )

TOTAL ASSETS LESS CURRENT LIABILITIES			227,725		213,550

Creditors: Amounts Falling Due After More Than One Year	7		(202,699 )		(202,725 )

NET ASSETS			25,026		10,825

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and Loss Account			25,025		10,824

SHAREHOLDERS' FUNDS			25,026		10,825