Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
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| Investment property | 4 |
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| 5,555,243 | 5,087,050 | |||
| Current assets | ||||
| Debtors | 5 |
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| Cash at bank and in hand |
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| 43,078 | 83,848 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (3,004,216) | (3,248,163) | ||
| Total assets less current liabilities | 2,551,027 | 1,838,887 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Profit and loss account |
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| Total shareholder's funds |
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Included within the profit and loss account reserves is £351,273 (2024: £nil) of non-distributable reserves.
Director's responsibilities:
The financial statements of Pokora Lettings Limited (registered number:
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Mrs D J Booth
Director |
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.
Pokora Lettings Limited (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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is The Garden House, 41A Salisbury Road, Amesbury, Salisbury, SP4 7HH, Wiltshire.
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 £.
Although there are negative net current liabilities of £3,004,216 (2024 - £3,248,163), the directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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.
| Computer equipment |
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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 the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Computer equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 September 2024 |
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| At 31 August 2025 |
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| Accumulated depreciation | |||
| At 01 September 2024 |
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| Charge for the financial year |
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| At 31 August 2025 |
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| Net book value | |||
| At 31 August 2025 | 0 | 0 | |
| At 31 August 2024 | 170 | 170 |
| Investment property | |
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| Valuation | |
| As at 01 September 2024 |
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| Fair value movement | 468,363 |
| As at 31 August 2025 |
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The investment properties class of fixed assets was revalued on 31 August 2025 by an estate agent who is external to the company. The basis of the valuation was market value. This class of assets has a current value of £5,555,243 (2024 - £5,086,880) and a carrying amount at historical cost of £5,086,880 (2024 - £5,086,880). The depreciation on this historical cost is £0 (2024 - £0).
| 2025 | 2024 | ||
| £ | £ | ||
| Other debtors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Taxation and social security |
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| Other creditors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Bank loans (secured) |
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| 2025 | 2024 | ||
| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Commitments
Total future minimum lease payments under non-cancellable operating leases are as follows:
| 2025 | 2024 | ||
| £ | £ | ||
| within one year |
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| between one and five years |
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| after five years |
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| Total future minimum lease payments under non-cancellable operating leases |
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The financial commitments are in relation to ground rent payable on five flats held under long leasehold arrangements with a remaining term of 108 years, representing an ongoing obligation for the duration of the leases, subject to any review or escalation provisions contained therein.
Creditors due within one year include £3,033,499 (2024 - £3,322,545) which is owed to the directors of the company