PPG Properties Limited - Accounts to registrar (filleted) - small 18.2
PPG Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| PPG PROPERTIES LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| PPG PROPERTIES LIMITED (REGISTERED NUMBER: 06057236) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 | to | 5 |
| PPG PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 14 London Road |
| Newark |
| Nottinghamshire |
| NG24 1TW |
| PPG PROPERTIES LIMITED (REGISTERED NUMBER: 06057236) |
| STATEMENT OF FINANCIAL POSITION |
| 31 JANUARY 2019 |
| 31.1.19 | 31.1.18 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Revaluation reserve | 11 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors on |
| PPG PROPERTIES LIMITED (REGISTERED NUMBER: 06057236) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| 1. | STATUTORY INFORMATION |
| PPG Properties Limited is a |
| number and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Revenue |
| Revenue represents rents receivable. |
| Property, plant and equipment |
| Plant and machinery etc | - |
| Taxation |
| Taxation for the year 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 year 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. |
| Investment properties |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is |
| recognised in profit or loss. |
| Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income |
| statement and the revaluation reserve. No depreciation is provided in respect of investment properties. The directors |
| consider this to show a true and fair view. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| PPG PROPERTIES LIMITED (REGISTERED NUMBER: 06057236) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 February 2018 |
| and 31 January 2019 |
| DEPRECIATION |
| At 1 February 2018 |
| Charge for year |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 February 2018 |
| Revaluations | 17,000 |
| At 31 January 2019 |
| NET BOOK VALUE |
| At 31 January 2019 |
| At 31 January 2018 |
| Fair value at 31 January 2019 is represented by: |
| £ |
| Valuation in 2011 | 58,395 |
| Valuation in 2014 | 40,000 |
| Valuation in 2015 | 17,000 |
| Valuation in 2016 | 18,000 |
| Valuation in 2017 | 25,000 |
| Valuation in 2018 | 20,000 |
| Valuation in 2019 | 17,000 |
| Cost | 511,605 |
| 707,000 |
| If Investment properties had not been revalued they would have been included at the following historical cost: |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Cost | 511,605 | 511,605 |
| PPG PROPERTIES LIMITED (REGISTERED NUMBER: 06057236) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 JANUARY 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Trade debtors |
| Prepayments |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Bank loans and overdrafts |
| Taxation |
| Directors' loan accounts | 255,000 | 260,000 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Bank loans - 2-5 years |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.1.19 | 31.1.18 |
| £ | £ |
| Bank loans |
| Bank loans are secured by the properties. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.1.19 | 31.1.18 |
| value: | £ | £ |
| Ordinary A Shares | £1 | 100 | 100 |
| Ordinary B Shares | £1 | 100 | 100 |
| Ordinary C Shares | £1 | 100 | 100 |
| 300 | 300 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 February 2018 |
| Revaluation of property | 17,000 |
| Deferred tax movement | (2,346 | ) |
| At 31 January 2019 |
| The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a |
| separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution. |