Registration number: 5435936

P G Estates Limited

Contents
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Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

P G Estates Limited

Company Information
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Directors

Peter Gormley Edward Gormley

Company secretary

Edward Gormley

Registered office

342 Regents Park Road Finchley London N3 2LJ

Accountants

Brooks Green AccountantsAbbey House 342 Regents Park Road London N3 2LJ

P G Estates Limited

(Registration number: 5435936)
Balance Sheet as at 31 December 2025
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	Note	2025 £		2024 £
Fixed assets
Tangible assets	4		2,557		3,136
Current assets
Debtors	5	636,185		643,484
Cash at bank and in hand		161,423		163,690
		797,608		807,174
Creditors: Amounts falling due within one year	6	(175,106)		(156,011)
Net current assets			622,502		651,163
Total assets less current liabilities			625,059		654,299
Creditors: Amounts falling due after more than one year	6		(108,483)		(155,807)
Net assets			516,576		498,492
Capital and reserves
Called up share capital	7	100		100
Retained earnings		516,476		498,392
Shareholders' funds			516,576		498,492

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

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 September 2026 and signed on its behalf by:
 

......................................... Edward Gormley Company secretary and director

P G Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture fittings and equipment	25% RB

P G Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 10 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

P G Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 5).

P G Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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3	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 January 2025	470,002	470,002
At 31 December 2025	470,002	470,002
Amortisation
At 1 January 2025	470,002	470,002
At 31 December 2025	470,002	470,002
Carrying amount
At 31 December 2025	-	-

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2025	1	69,835	69,836
At 31 December 2025	1	69,835	69,836
Depreciation
At 1 January 2025	-	66,700	66,700
Charge for the year	-	579	579
At 31 December 2025	-	67,279	67,279
Carrying amount
At 31 December 2025	1	2,556	2,557
At 31 December 2024	1	3,135	3,136

Included within the net book value of land and buildings above is £1 (2024 - £1) in respect of long leasehold land and buildings.
 

5

Debtors

P G Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2025
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Current	2025 £	2024 £
Other debtors	636,185	643,484
	636,185	643,484

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	160,400	141,305
Accruals and deferred income	4,750	4,750
Other creditors	9,956	9,956
	175,106	156,011

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	108,483	155,807

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary share capital of £1 each	100	100	100	100

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	108,483	155,807