Preece Property Ltd - Filleted accounts

Registered number

11247152

Preece Property Ltd

Filleted Accounts

31 March 2026

Preece Property Ltd

Company Information

Directors

J R Preece

Mrs S J Preece

Accountants

Anderson Griffin

Rotunda Buildings

Montpellier Exchange

Cheltenham

Glos

Registered office

10 Edendale Road

Cheltenham

Glos

Registered number

11247152

Preece Property Ltd
Registered number:		11247152
Balance Sheet
as at 31 March 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		1,111,990			960,000

Current assets
Debtors	4	-			1,034
Cash at bank and in hand		20,893			13,885
		20,893			14,919

Creditors: amounts falling due within one year	5	(7,412)			(3,927)

Net current assets			13,481			10,992

Total assets less current liabilities			1,125,471			970,992

Creditors: amounts falling due after more than one year	6		(906,083)			(774,381)


Net assets			219,388			196,611

Capital and reserves
Called up share capital			100			100
Revaluation reserve	7		151,073			151,073
Profit and loss account			68,215			45,438

Shareholders' funds			219,388			196,611

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.




J R Preece
Director
Approved by the board on 30 June 2026

Preece Property Ltd
Notes to the Accounts
for the year ended 31 March 2026


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.

	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	nil
	Plant and machinery	over 4 years

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	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.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
		Land and buildings		Plant and machinery		Total
£			£		£
	Cost
	At 1 April 2025	960,000		495		960,495
	Additions	151,990		-		151,990
	At 31 March 2026	1,111,990		495		1,112,485

	Depreciation
	At 1 April 2025	-		495		495
	At 31 March 2026	-		495		495

	Net book value
	At 31 March 2026	1,111,990		-		1,111,990
	At 31 March 2025	960,000		-		960,000


4	Debtors			2026		2025
£					£

	Trade debtors			-		1,034


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Trade creditors			1,752		-
	Taxation and social security costs			5,660		3,927
				7,412		3,927


6	Creditors: amounts falling due after one year			2026		2025
£					£

	Intercompany loan			11,500		11,500
	Mortgages			700,315		594,205
	Directors' loan			194,268		168,676
				906,083		774,381


7	Revaluation reserve			2026		2025
£					£

	At 1 April 2025			151,073		123,603
	Gain on revaluation of land and buildings			-		27,470

	At 31 March 2026			151,073		151,073


8	Controlling party

	The company is controlled by the directors.


9	Other information

	Preece Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	10 Edendale Road
	Cheltenham
	Glos