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Registered number: 09503464 PMA PROPERTIES LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
PMA PROPERTIES LIMITED REGISTERED NUMBER: 09503464 BALANCE SHEET AS AT 31 MARCH 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 1 |  | 1
Investments | 5 |  | 65 |  | 65
Investment property | 6 |  | 7,005,216 |  | 7,005,216
|  |  | 7,005,282 |  | 7,005,282
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 7 | 1,257,729 |  | 1,262,497 |
Cash at bank and in hand | 8 | 135,544 |  | 69,708 |
|  | 1,393,273 |  | 1,332,205 |
Creditors: amounts falling due within one year | 9 | (218,251) |  | (205,566) |
Net current assets |  |  | 1,175,022 |  | 1,126,639
Total assets less current liabilities |  |  | 8,180,304 |  | 8,131,921
Creditors: amounts falling due after more than one year | 10 |  | (3,745,000) |  | (3,745,000)
Net assets |  |  | 4,435,304 |  | 4,386,921
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 4,377,042 |  | 4,377,042
Revaluation reserve | 11 |  | 303,170 |  | 303,170
Profit and loss account | 11 |  | (244,908) |  | (293,291)
|  |  | 4,435,304 |  | 4,386,921
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PMA PROPERTIES LIMITED REGISTERED NUMBER: 09503464 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2026.
P Summers
Director
The notes on pages 3 to 9 form part of these financial statements. Page 2
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. | General information
PMA Properties Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 62 Salisbury Road, Walmer, Deal, Kent, CT14 7QJ. The Company's principal activity during the year under review was the letting and operating of owned or leased real estate. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
The Company's only source of revenue is rental income from investment properties let to third parties. Revenue is recognised in the accounting period in which the services are rendered. Revenue represents the amount receivable for services rendered, net of returns, discounts and rebates allowed by the Company and value added taxes.
| 2.3 | Investment property
Investment property relates to the long leasehold interests. Investment property is carried at fair value determined annually by the directors or external valuers 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. Changes in fair value are recognised in the Statement of comprehensive income.
| 2.4 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Page 3
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.4 | Tangible fixed assets (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following annual basis:
|  |  |  | Office equipment | - | 25% | on cost.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
| 2.5 | Valuation of investments
Fixed asset investments are in unlisted company shares. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Investments held as current assets represent loans provided to third parties to finance property development projects. These are shown at cost less provision for impairment when it is considered probable that the amount will not be fully recovered.
| 2.6 | Debtors
Short term debtors are measured at transaction price, less any impairment.
| 2.7 | Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties. Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
| 2.8 | Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. Page 4
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2.Accounting policies (continued)
| 2.9 | Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.10 | Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
| 2.11 | Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Balance sheet.
| 2.12 | Current and deferred taxation
Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Page 5
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
3. | Employees
| The average monthly number of employees, including directors, during the year was 1 (2024 - 1).
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 April 2024 | 3,001
| At 31 March 2025 | 3,001
| Depreciation |
| At 1 April 2024 | 3,000
| At 31 March 2025 | 3,000
| Net book value |
| At 31 March 2025 | 1
| At 31 March 2024 | 1
5. | Fixed asset investments
|  | Unlisted investments
|  | £
| Cost or valuation |
| At 1 April 2024 | 65
| At 31 March 2025 | 65
Page 6
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 April 2024 | 7,005,216
| At 31 March 2025 | 7,005,216
The most recent valuation of March 2024, made by the directors, using their knowledge and information available, on an open market value for existing use basis stated a market value of £7,005,216.
| If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Historic cost | 7,175,671 | 7,175,671
7. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 12,563 | 17,331
| Other debtors | 1,245,166 | 1,245,166
|  | 1,257,729 | 1,262,497
8. | Cash and cash equivalents
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 135,544 | 69,708
Page 7
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
9. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | 21,819 | 21,819
| Corporation tax | 12,342 | 12,605
| Other creditors | 175,994 | 131,902
| Accruals and deferred income | 8,096 | 39,240
|  | 218,251 | 205,566
10. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 3,745,000 | 3,745,000
| Secured loans Bank loans amounting to £3,745,000 (2024 - £3,745,000) are secured by a debenture over all the company assets and a personal guarantee of the director, P E Summers, limited to £467,500 plus interest and costs.
11. | Reserves
Revaluation reserve The revaluation reserve represents cumulative revaluation gains and losses which have arisen in respect of tangible fixed assets. Profit and loss account The profit and loss account consists of distributable reserves arising from cumulative historical profits and losses less any distributions made.
12. | Related party transactions
| Included within other debtors is an amount of £145,389 (2024 - £145,389) due from companies in which the entity has a participating interest. Included within other creditors is an amount of £54,133 owed to the director (2024 - £13,180 owed from).
Page 8
PMA PROPERTIES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
13. | Director's benefits: advances, credit and guarantees
|  | 2025 | 2023
|  | £ | £
| Balance brought forward | (13,180) | 201,518
| Advances in year | 318,473 | 47,707
| Repayments in year | (359,574) | (264,229)
| Interest charged in year | 148 | 1,824
|  | (54,133) | (13,180)
| Interest was charged by the Company at the HM Revenue & Customs official rate of interest on beneficial loans.
Page 9