| Priestley Properties Limited |
| Registered number: |
02710648 |
| Balance Sheet |
| as at 31 March 2026 |
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| Notes |
|
2026 |
|
2025 |
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£ |
£ |
|
£ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
2,376,743 |
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2,386,058 |
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| Current assets |
| Debtors |
4 |
|
- |
|
|
5,708 |
| Cash at bank and in hand |
|
|
192,759 |
|
|
101,899 |
|
|
|
192,759 |
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|
107,607 |
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|
|
|
|
| Creditors: amounts falling due within one year |
5 |
|
(103,232) |
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(85,076) |
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| Net current assets |
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89,527 |
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22,531 |
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| Net assets |
|
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2,466,270 |
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2,408,589 |
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| Capital and reserves |
| Called up share capital |
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|
|
1,455,002 |
|
|
1,455,002 |
| Profit and loss account |
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|
1,011,268 |
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|
953,587 |
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| Shareholders' funds |
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|
2,466,270 |
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2,408,589 |
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| The director is 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 director acknowledges her 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. |
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| Mrs E M E Smith |
| Director |
| Approved by the board on 25 September 2026 |
|
| Priestley Properties Limited |
| Notes to the Accounts |
| for the year ended 31 March 2026 |
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| 1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 (as applicable to small companies), The Financial Reporting Standard applicable in the UK and Republic of Ireland. |
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Turnover |
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Turnover is measured at the fair value of the rents receivable. |
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Tangible fixed assets |
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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 development land and buildings and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Development land and buildings |
Not depreciated |
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Furnishings and equipment |
over 4 years |
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Investment properties |
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Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. |
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Debtors |
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Loans and other financial assets are initially recognised at transaction price including any transaction costs. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are also recognised at transaction price net of any transaction costs. |
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Taxation |
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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. |
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| 2 |
Employees |
2026 |
|
2025 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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| 3 |
Tangible fixed assets |
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Investment properties |
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Development land and buildings |
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Furnishings and equipment |
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Total |
| £ |
£ |
£ |
£ |
|
Cost / valuation |
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At 1 April 2025 |
1,017,401 |
|
1,350,629 |
|
71,336 |
|
2,439,366 |
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At 31 March 2026 |
1,017,401 |
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1,350,629 |
|
71,336 |
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2,439,366 |
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Depreciation |
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At 1 April 2025 |
- |
|
- |
|
53,308 |
|
53,308 |
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Charge for the year |
- |
|
- |
|
9,315 |
|
9,315 |
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At 31 March 2026 |
- |
|
- |
|
62,623 |
|
62,623 |
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Net book value |
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At 31 March 2026 |
1,017,401 |
|
1,350,629 |
|
8,713 |
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2,376,743 |
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At 31 March 2025 |
1,017,401 |
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1,350,629 |
|
18,028 |
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2,386,058 |
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J S C Smith, who is company secretary, has valued the investment properties on the basis of their rental value. He is of the opinion that their value is not materially different from the cost. Accordingly, the director has decided to show value at cost. |
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| 4 |
Debtors |
2026 |
|
2025 |
| £ |
£ |
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Other debtors |
- |
|
5,708 |
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| 5 |
Creditors: amounts falling due within one year |
2026 |
|
2025 |
| £ |
£ |
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Corporation tax |
35,009 |
|
- |
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Other taxes and social security costs |
11,191 |
|
4,973 |
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Directors loans |
53,832 |
|
72,870 |
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Accruals and deferred income |
3,200 |
|
7,233 |
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103,232 |
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85,076 |
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| 6 |
Controlling party |
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The company is under the control of Mrs E M E Smith. |
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| 7 |
Other information |
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Priestley Properties Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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Shaw Green |
|
Cottons Lane |
|
Ashton-Under- Hill |
|
Worcestershire |
|
WR11 6SS |