IRIS Accounts Production v26.1.10.61 10014954 director 1.1.24 29.12.24 29.12.24 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 10014954 2023-12-31 10014954 2024-12-29 10014954 2024-01-01 2024-12-29 10014954 2022-12-31 10014954 2023-01-01 2023-12-31 10014954 2023-12-31 10014954 ns15:EnglandWales 2024-01-01 2024-12-29 10014954 ns14:PoundSterling 2024-01-01 2024-12-29 10014954 ns10:Director1 2024-01-01 2024-12-29 10014954 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-29 10014954 ns10:SmallEntities 2024-01-01 2024-12-29 10014954 ns10:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-29 10014954 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-29 10014954 ns10:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-29 10014954 ns10:FullAccounts 2024-01-01 2024-12-29 10014954 ns5:CurrentFinancialInstruments 2024-12-29 10014954 ns5:CurrentFinancialInstruments 2023-12-31 10014954 ns5:ShareCapital 2024-12-29 10014954 ns5:ShareCapital 2023-12-31 10014954 ns5:RevaluationReserve 2024-12-29 10014954 ns5:RevaluationReserve 2023-12-31 10014954 ns5:RetainedEarningsAccumulatedLosses 2024-12-29 10014954 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 10014954 ns10:RegisteredOffice 2024-01-01 2024-12-29 10014954 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-12-29 10014954 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2023-12-31 10014954 ns10:Director1 1 2023-12-31 10014954 ns10:Director1 1 2022-12-31 10014954 ns10:Director1 1 2024-01-01 2024-12-29 10014954 ns10:Director1 1 2023-01-01 2023-12-31 10014954 ns10:Director1 1 2024-12-29 10014954 ns10:Director1 1 2023-12-31 10014954 1 2024-01-01 2024-12-29

REGISTERED NUMBER: 10014954 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

FOR

PRIESTLEY INVESTMENTS (LEEDS) LIMITED

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

| Page |

Statement of Financial Position | 1 |  | to |  | 2

Notes to the Financial Statements | 3 |  | to |  | 6

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

STATEMENT OF FINANCIAL POSITION

29 DECEMBER 2024

| 29.12.24 |  | 31.12.23

| Notes | £ | £ |

FIXED ASSETS

Investment property | 5 | 8,701,001 |  | 7,111,001 |  |

CURRENT ASSETS

Debtors | 6 | 3,535,335 |  | 2,588,846 |  |

Investments | 7 | 534,580 |  | 534,580 |  |

4,069,915 |  | 3,123,426 |  |

CREDITORS

Amounts falling due within one year | 8 | (10,668,734 | ) | (8,102,015 | ) |

NET CURRENT LIABILITIES | (6,598,819 | ) | (4,978,589 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,102,182 |  | 2,132,412 |  |

PROVISIONS FOR LIABILITIES | (408,433 | ) | (408,433 | ) |

NET ASSETS | 1,693,749 |  | 1,723,979 |  |

CAPITAL AND RESERVES

Called up share capital | 1 |  | 1 |  |

Undistributable reserve | 1,741,211 |  | 1,741,211 |  |

Retained earnings | (47,463 | ) | (17,233 | ) |

1,693,749 |  | 1,723,979 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

STATEMENT OF FINANCIAL POSITION - continued

29 DECEMBER 2024

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 March 2026 and were signed by:

D E Mcculloch - Director

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

1. | STATUTORY INFORMATION

| PRIESTLEY INVESTMENTS (LEEDS) LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

| Registered number: | 10014954

| Registered office: | Suite K Priestley House

| 170 Elland Road

| Leeds

| West Yorkshire

2. | STATEMENT OF COMPLIANCE

| These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. | ACCOUNTING POLICIES

| BASIS OF PREPARING THE FINANCIAL STATEMENTS

| The financial statements have been prepared under the historical cost convention.

| SIGNIFICANT JUDGEMENTS AND ESTIMATES

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| REVENUE RECOGNITION

| Revenue is recognised at the fair value of the consideration received or receivable and in which the services are rendered, stated net of discounts and of Value Added Tax. Revenue is recognised in the accounting period in which the services are rendered.

| INVESTMENT PROPERTY

| Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

| Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss

| If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

3. | ACCOUNTING POLICIES - continued

| FINANCIAL INSTRUMENTS

| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

| Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

| Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

| For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

| TAXATION

| Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

| Current or deferred taxation assets and liabilities are not discounted.

| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

| DEFERRED TAX

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. | EMPLOYEES AND DIRECTORS

| The average number of employees during the period was 6 (2023 - 6 ) .

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 January 2024 | 7,111,001 |  |

| Additions | 1,590,000 |  |

| At 29 December 2024 | 8,701,001 |  |

| NET BOOK VALUE

| At 29 December 2024 | 8,701,001 |  |

| At 31 December 2023 | 7,111,001 |  |

| Investment property has been recognised at fair value by the directors, they are of the opinion that

| there has been no material change since 31 December 2024.

| In respect of tangible assets held at valuation, the aggregate cost, depreciation and carrying amount that would have been recognised if the assets had been carried under the historical cost model are: Aggregate cost £6,551,356.65 (December 2023: £4,961,357), Aggregate depreciation £nil (December 2023: £nil) and carrying value £8,701,000 (December 2023: 7,111,000).

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 29.12.24 |  | 31.12.23

£ | £ |

| Trade debtors | 832,038 |  | 896,983 |  |

| Amounts owed by group undertakings | 2,660,144 |  | 1,648,710 |  |

| Other debtors | 43,153 |  | 43,153 |  |

3,535,335 |  | 2,588,846 |  |

7. | CURRENT ASSET INVESTMENTS

| 29.12.24 |  | 31.12.23

£ | £ |

| Other | 534,580 |  | 534,580 |  |

8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 29.12.24 |  | 31.12.23

£ | £ |

| Bank loans and overdrafts | 5,213,538 |  | 4,020,638 |  |

| Trade creditors | 130,372 |  | 157,885 |  |

| Amounts owed to group undertakings | 5,119,700 |  | 3,793,591 |  |

| Taxation and social security | 155,722 |  | 99,143 |  |

| Other creditors | 49,402 |  | 30,758 |  |

10,668,734 |  | 8,102,015 |  |

PRIESTLEY INVESTMENTS (LEEDS) LIMITED (REGISTERED NUMBER: 10014954)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE PERIOD 1 JANUARY 2024 TO 29 DECEMBER 2024

9. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to a director subsisted during the period ended 29 December 2024 and the year ended 31 December 2023:

| 29.12.24 |  | 31.12.23

£ | £ |

| D E Mcculloch

| Balance outstanding at start of period | 35 |  | 35 |  |

| Amounts repaid | - |  | - |  |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of period | 35 |  | 35 |  |

10. | RELATED PARTY DISCLOSURES

| Transactions with directors are under norman market conditions and/or not material.

11. | EVENTS AFTER THE END OF THE REPORTING PERIOD

| There were no material events up to the date of approval of the financial statements by the board.