| PPNL SPV 12 Limited |
| Registered number: |
09498909 |
| Statement of Financial Position |
| as at 31 December 2018 |
|
|
|
| Notes |
|
|
2018 |
|
|
2017 |
| £ |
£ |
| Fixed assets |
| Investment property |
2 |
|
|
285,000 |
|
|
295,000 |
|
| Current assets |
| Debtors |
3 |
|
1,265 |
|
|
1,125 |
| Cash at bank and in hand |
|
|
1,987 |
|
|
338 |
|
|
|
3,252 |
|
|
1,463 |
|
| Creditors: amounts falling due within one year |
4 |
|
(3,979) |
|
|
(2,015) |
|
| Net current liabilities |
|
|
|
(727) |
|
|
(552) |
|
| Total assets less current liabilities |
|
|
|
284,273 |
|
|
294,448 |
|
|
| Deferred tax provision |
|
|
|
(2,148) |
|
|
(4,029) |
|
|
| Net assets |
|
|
|
282,125 |
|
|
290,419 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
1 |
|
|
1 |
| Share premium |
|
|
|
137,099 |
|
|
137,099 |
| Fair value adjustment reserve |
|
|
|
12,009 |
|
|
20,128 |
| Capital reduction reserve |
|
|
|
133,016 |
|
|
133,191 |
| Profit and loss account |
|
|
|
- |
|
|
- |
|
| Shareholder's funds |
|
|
|
282,125 |
|
|
290,419 |
|
|
|
|
|
|
|
|
| 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 member has 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. |
|
|
|
|
| David Williams |
| Director |
| Approved by the board on 18 July 2019 |
|
| PPNL SPV 12 Limited |
| Notes to the Accounts |
| for the year ended 31 December 2018 |
|
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets. |
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover relates to rental income recognised on a straight-line basis. |
|
|
Investment Property |
|
Investment property is included at market fair value. Fair value adjustments are recognised in the Income Statement. Deferred taxation is provided on these adjustments at the rate expected to apply when the property is sold. Reserves generated by fair value adjustments after deferred tax are not distributable until the sale of the property in question. |
|
|
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
|
| 2 |
Investment property |
|
| £ |
|
Fair value |
|
At 1 January 2018 |
295,000 |
|
Fair value adjustments |
(10,000) |
|
At 31 December 2018 |
285,000 |
|
|
|
|
|
|
|
|
|
|
|
Freehold investment property was valued by independent valuers Allsop LLP (MRICS) on 30 September 2018. |
|
|
| 3 |
Debtors |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade debtors |
1,033 |
|
1,125 |
|
Other debtors |
232 |
|
- |
|
|
|
|
|
|
1,265 |
|
1,125 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2018 |
|
2017 |
| £ |
£ |
|
|
Trade creditors |
117 |
|
281 |
|
Taxation and social security costs |
1,836 |
|
1,734 |
|
Other creditors |
2,026 |
|
- |
|
|
|
|
|
|
3,979 |
|
2,015 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Average number of persons employed |
|
|
During the year the average number of employees was 0 (2017: 0). |
|
|
| 6 |
Other information |
|
|
PPNL SPV 12 Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
27 Old Gloucester Street |
|
London |
|
WC1N 3AX |
|
|
The presentational currency is £ sterling. |
