| PD Gwalia Limited |
| Registered number: |
05465846 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
354,742 |
|
|
354,986 |
|
| Current assets |
| Debtors |
5 |
|
5,001 |
|
|
23,315 |
| Cash at bank and in hand |
|
|
20,069 |
|
|
2,081 |
|
|
|
25,070 |
|
|
25,396 |
|
| Creditors: amounts falling due within one year |
6 |
|
(19,318) |
|
|
(5,613) |
|
| Net current assets |
|
|
|
5,752 |
|
|
19,783 |
|
| Total assets less current liabilities |
|
|
|
360,494 |
|
|
374,769 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
(59,000) |
|
|
(114,000) |
|
| Provisions for liabilities |
|
|
|
(243) |
|
|
- |
|
|
| Net assets |
|
|
|
301,251 |
|
|
260,769 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Profit and loss account |
|
|
|
301,151 |
|
|
260,669 |
|
| Shareholders' funds |
|
|
|
301,251 |
|
|
260,769 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Howard Patchell |
| Director |
| Approved by the board on 22 December 2025 |
|
| PD Gwalia Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
|
|
Intangible fixed assets |
|
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Freehold buildings |
No depreciation |
|
Plant and machinery |
20% reducing balance |
|
Fixtures and fittings |
20% reducing balance |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Intangible fixed assets |
£ |
|
Goodwill: |
|
|
Cost |
|
At 1 April 2024 |
800,000 |
|
At 31 March 2025 |
800,000 |
|
|
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 April 2024 |
800,000 |
|
At 31 March 2025 |
800,000 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
- |
|
|
|
|
|
|
|
|
|
|
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years. |
|
|
| 4 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
353,770 |
|
52,637 |
|
406,407 |
|
At 31 March 2025 |
353,770 |
|
52,637 |
|
406,407 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
- |
|
51,421 |
|
51,421 |
|
Charge for the year |
- |
|
244 |
|
244 |
|
At 31 March 2025 |
- |
|
51,665 |
|
51,665 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
353,770 |
|
972 |
|
354,742 |
|
At 31 March 2024 |
353,770 |
|
1,216 |
|
354,986 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
353,770 |
|
353,770 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
353,770 |
|
353,770 |
|
During the 2025 yearend the directors carried out a revaluation of the properties held by the Company. The estimated current resale values for the properties was established by looking at similar properties for sale in and around their immediate locations. Valuation as at 31st March 2025 remained unchanged at £353,770.
The historic cost value of the property was £353,770. The property is not depreciated and any gain or loss under FR102 is transferred to the profit and loss account as non distributable reserves. |
|
|
| 5 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Primary Space Ltd Loan |
|
|
|
|
2,033 |
|
23,033 |
|
Other debtors |
2,968 |
|
282 |
|
|
|
|
|
|
5,001 |
|
23,315 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Joint Venture Kijon Limited |
2,250 |
|
2,250 |
|
Rent bonds |
12,500 |
|
500 |
|
Other creditors |
4,568 |
|
2,863 |
|
|
|
|
|
|
19,318 |
|
5,613 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Tomat Investments Ltd |
|
|
|
|
14,500 |
|
42,000 |
|
Cwmni ORT Ltd |
|
|
|
|
14,500 |
|
42,000 |
|
Church Street |
|
|
|
|
30,000 |
|
30,000 |
|
|
|
|
|
|
59,000 |
|
114,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Related party transactions |
|
|
During the year, the company had a loan outstanding to Tomat Investments Limited, which Howard Patchell is a shareholder and director of.
As at 31st March 2025, the amount owed to Tomat Investments Limited was £14,500.00 (2024: £42,000.00).
The loan is secured by a floating charge over the assets of the company.
During the year, the company had a loan outstanding to Cwmni ORT Ltd, which Graeme Davies is a shareholder and director of.
As at 31st March 2025, the amount owed to Cwmni ORT Ltd was £14,500.00 (2024: £42,000.00).
The loan is secured by a floating charge over the assets of the company.
During the year, the company also had a loan outstanding to Patricial Patchell, who is the mother of Howard Patchell.
As at 31st March 2025, the amount owed to Patricia Patchell was £30,000.00 (2024: £30,000.00).
The loan is secured by a charge over the assets of the company. |
|
| 9 |
Transactions with directors |
|
|
During the year, Howard Patchell used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owed to Howard Patchell as director as at 31st March 2025 of £1,414.53 (2024: £1,294.53). The amount does not carry interest and is repayable on demand.
During the year, Graeme Davies used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owed to Graeme Davies as director as at 31st March 2025 of £289.24 (2024: £169.24). The amount does not carry interest and is repayable on demand. |
|
|
|
| 10 |
Controlling party |
|
|
Howard Patchell and Graeme Davies together held 100% of the share capital of the company during the year to 31st March 2025. They are therefore company's ultimate controlling parties. |
|
|
| 11 |
Other information |
|
|
PD Gwalia Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
2 Westbourne Crescent |
|
Cardiff |
|
Wales |
|
CF14 2BL |