Penybont Real Estate Company Limited 31/03/2019 iXBRL

Penybont Real Estate Company Limited 31/03/2019 iXBRL

PENYBONT REAL ESTATE COMPANY LIMITED - Company Information

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Company registration number: 00777147
Penybont Real Estate Company Limited
Unaudited filleted financial statements
31 March 2019
Penybont Real Estate Company Limited
Contents
Balance sheet
Notes to the financial statements
Penybont Real Estate Company Limited
Balance sheet
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 5 6,485,317 6,174,767
Investments 6 548 548
_______ _______
6,485,865 6,175,315
Current assets
Stocks 2,262 2,262
Debtors 7 13,349 15,621
Cash at bank and in hand 30,854 106,644
_______ _______
46,465 124,527
Creditors: amounts falling due
within one year 8 ( 157,858) ( 168,034)
_______ _______
Net current liabilities ( 111,393) ( 43,507)
_______ _______
Total assets less current liabilities 6,374,472 6,131,808
Creditors: amounts falling due
after more than one year 9 ( 193,539) ( 52,724)
Provisions for liabilities ( 378,440) ( 378,440)
_______ _______
Net assets 5,802,493 5,700,644
_______ _______
Capital and reserves
Called up share capital 10 140 140
Revaluation reserve 2,890,459 2,890,459
Profit and loss account 2,911,894 2,810,045
_______ _______
Shareholders funds 5,802,493 5,700,644
_______ _______
For the year ending 31 March 2019 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 October 2019 , and are signed on behalf of the board by:
.........................................
D.D. Morgan
Director
Company registration number: 00777147
Penybont Real Estate Company Limited
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Clifton House, Four Elms Road, Cardiff, CF24 1LE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2018: 3 ).
5. Tangible assets
Freehold property Short leasehold property Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 April 2018 6,174,500 267 2,550 6,177,317
Additions 310,550 - - 310,550
_______ _______ _______ _______
At 31 March 2019 6,485,050 267 2,550 6,487,867
_______ _______ _______ _______
Depreciation
At 1 April 2018 and 31 March 2019 - - 2,550 2,550
_______ _______ _______ _______
Carrying amount
At 31 March 2019 6,485,050 267 - 6,485,317
_______ _______ _______ _______
At 31 March 2018 6,174,500 267 - 6,174,767
_______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2018 and 31 March 2019 548 548
_______ _______
Impairment
At 1 April 2018 and 31 March 2019 - -
_______ _______
Carrying amount
At 31 March 2019 548 548
_______ _______
At 31 March 2018 548 548
_______ _______
7. Debtors
2019 2018
£ £
Trade debtors - 2,607
Other debtors 13,349 13,014
_______ _______
13,349 15,621
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 9,053 8,418
Amounts owed to group undertakings and undertakings in which the company has a participating interest 11,210 11,210
Accruals and deferred income 6,536 2,700
Corporation tax 25,536 32,471
Director loan accounts 105,523 113,235
_______ _______
157,858 168,034
_______ _______
The bank borrowings are secured on the assets of the company.
9. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts 193,539 52,724
_______ _______
The bank borrowings are secured on the assets of the company.
10. Called up share capital
Issued, called up and fully paid
2019 2018
No £ No £
Ordinary shares shares of £ 1.00 each 140 140 140 140
_______ _______ _______ _______