Company registration number 13148347 (England and Wales)
PMI Property Ltd
Unaudited Financial Statements
For the year ended 31 January 2026
PMI Property Ltd
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
PMI Property Ltd
Statement of financial position
As at 31 January 2026
31 January 2026
- 1 -
2026
2025
Notes
£
£
£
£
Fixed assets
Investment property
3
4,288,539
3,804,241
Current assets
Debtors
4
149,034
50,977
Cash at bank and in hand
6,533
10,856
155,567
61,833
Creditors: amounts falling due within one year
5
(4,024,008)
(1,474,870)
Net current liabilities
(3,868,441)
(1,413,037)
Total assets less current liabilities
420,098
2,391,204
Creditors: amounts falling due after more than one year
6
-
0
(2,195,327)
Net assets
420,098
195,877
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
419,998
195,777
Total equity
420,098
195,877
PMI Property Ltd
Statement of financial position (continued)
As at 31 January 2026
31 January 2026
- 2 -

For the financial year ended 31 January 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 24 March 2026
Mr M E J Wilcox
Director
Company registration number 13148347 (England and Wales)
PMI Property Ltd
Notes to the financial statements
For the year ended 31 January 2026
- 3 -
1
Accounting policies
Company information

PMI Property Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Glades, Festival Way, Festival Park, Stoke-on-Trent, Staffordshire, ST1 5SQ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.

Revenue from rentals of property are recognised when the amount of revenue can be measured reliably, it is probable that the economical benefits associated with the transactions will flow to the entity and the costs incurred in respect of the transaction can be measured reliably.

1.3
Investment property

Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

PMI Property Ltd
Notes to the financial statements (continued)
For the year ended 31 January 2026
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2026
2025
Number
Number
Total
1
1
3
Investment property
2026
£
Fair value
At 1 February 2025
3,804,241
Additions
484,298
At 31 January 2026
4,288,539
PMI Property Ltd
Notes to the financial statements (continued)
For the year ended 31 January 2026
3
Investment property
(Continued)
- 5 -

Investment property comprises residential property. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31st January 2026 by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2026
2025
Amounts falling due within one year:
£
£
Corporation tax recoverable
5,034
5,035
Amounts owed by group undertakings
144,000
-
0
Other debtors
-
0
45,942
149,034
50,977
5
Creditors: amounts falling due within one year
2026
2025
£
£
Bank loans
-
0
100,331
Trade creditors
-
0
452
Amounts owed to group undertakings
3,495,902
-
0
Other creditors
528,106
1,374,087
4,024,008
1,474,870
6
Creditors: amounts falling due after more than one year
2026
2025
£
£
Bank loans and overdrafts
-
0
2,195,327
7
Security

The assets of the company have been provided as security against borrowings of a fellow group company.

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