Company No: 10767662 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	3,550,000		3,550,000
		3,550,000		3,550,000
Current assets
Debtors	4	37,689		42,325
Cash at bank and in hand		72,932		38,895
		110,621		81,220
Creditors: amounts falling due within one year	5	( 170,086)		( 21,315)
Net current (liabilities)/assets		(59,465)		59,905
Total assets less current liabilities		3,490,535		3,609,905
Creditors: amounts falling due after more than one year	6	( 1,428,670)		( 1,585,685)
Provision for liabilities		( 313,035)		( 313,035)
Net assets		1,748,830		1,711,185
Capital and reserves
Called-up share capital		1,000		1,000
Fair value reserve		939,106		939,106
Profit and loss account		808,724		771,079
Total shareholder's funds		1,748,830		1,711,185

For the financial year ending 31 July 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of PD & CL Estates Ltd (registered number: 10767662) were approved and authorised for issue by the Board of Directors on 15 January 2026. They were signed on its behalf by:

P D Dance Director

S A Dance Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

PD & CL Estates Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3, Belvedere Court, 10 Beaufighter Road, Weston-Super-Mare, BS24 8EE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the rental amounts due on the investment properties held in the period. Turnover is shown net of returns, rebates and discounts.

The company recognises revenue when:
the amount of rent can be reliably measured;
It is confirmed that the rent is due to the entity.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Borrowing costs

Borrowing costs that are directly attributable to acquisition, construction or production of qualifying assets, are capitalised as part of the cost of those assets. Capitalisation begins when both finance costs and expenditures for the asset are being incurred and activities that are necessary to get the asset ready for use are in progress. Capitalisation ceases when substantially all the activities that are necessary to get the asset ready for use are complete.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	2		2

3. Investment property

	Investment property
	£
Valuation
As at 01 August 2024	3,550,000
As at 31 July 2025	3,550,000

Valuation

The fair value of the investment properties is assessed annually and the carrying value adjusted as required. The directors, who are internal to the company, have assessed the fair value of the properties on an open market value basis, based on available market data. The properties were last valued at 31 July 2023 at £3,550,000 where the carrying value was uplifted by £1,052,526. The 2025 valuation was undertaken by the directors at open market value and the directors are satisfied that the current open market value is not materially different from the value included within the financial statements.

4. Debtors

	2025		2024
	£		£
Prepayments	960		1,232
Other debtors	36,729		41,093
	37,689		42,325

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		215
Amounts owed to Group undertakings	137,865		0
Other loans	20,000		20,000
Accruals	1,200		1,100
Taxation and social security	11,021		0
	170,086		21,315

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	1,428,670		1,585,685

The loans are secured against the investment properties.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

	2025		2024
	£		£
Bank loans (secured)	1,428,670		1,585,685

7. Related party transactions

Transactions with owners holding a participating interest in the entity

The company is a wholly owned subsidiary of PD & CL Holdings Ltd, and as such has taken advantage of the exemption permitted by section 33 of 'FRS102 'Related Party Disclosures', not to provide disclosure of transactions entered into with other wholly owned members of the group.