Pavilion Property Management Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06646060 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

FOR

PAVILION PROPERTY MANAGEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D E Martin

REGISTERED OFFICE:

3rd Floor

207 Regent Street

London

W1B 3HH

REGISTERED NUMBER:

06646060 (England and Wales)

ACCOUNTANTS:

SJF Accounting & Tax Ltd t/a SJF Accountants

Chartered Certified Accountants

Rothsay House

5 South Street

East Hoathly

East Sussex

BN8 6DS

FIXED ASSETS

Investment property

4

7,326,371

14,589

CURRENT ASSETS

Debtors

5

14,421

-

Cash at bank and in hand

28,808

1,000

43,229

1,000

CREDITORS

Amounts falling due within one year

6

2,060,777

57,431

NET CURRENT LIABILITIES

(2,017,548

)

(56,431

)

TOTAL ASSETS LESS CURRENT LIABILITIES

5,308,823

(41,842

)

CREDITORS

Amounts falling due after more than one year

7

3,874,168

-

NET ASSETS/(LIABILITIES)

1,434,655

(41,842

)

CAPITAL AND RESERVES

Called up share capital

9

1,100

1,000

Share premium

1,429,675

-

Retained earnings

3,880

(42,842

)

SHAREHOLDERS' FUNDS

1,434,655

(41,842

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 May 2020 and were signed by:

D E Martin - Director

1.	STATUTORY INFORMATION

Pavilion Property Management Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Monetary amounts in these financial statements are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31st March 2020 are the first financial statements to be prepared in

accordance with FRS102. The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date

of the transitional to FRS102 was 1st April 2019. The reporting position and financial performance for the previous

period are not affected by the transition to FRS102.

The current period is for the year ended 31st March 2020. The comparative figures are for the 8 month period 1st

August 2018 to 31st March 2019 and are therefore not entirely comparable.

Turnover

Revenue, which represents rents receivable on investment properties, is measured at fair value of the consideration

received or receivable, excluding any rebates or discounts.Revenue is recognised to the extent that it is probable that

the economic benefit will flow to the Company and the revenue can be easily measured. Revenue is recognised in

the period in which the services are provided in accordance with the rental agreement.

Investment property

Investment properties are carried at fair value determined annually by the director and derived from the current

market rents and investment property yields for comparable real estate, adjusted if necessary for any change in the

nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised

in the Profit and loss account.

Financial instruments

The company only enters into basic financial instruments that result in the recognition of financial assets and

liabilities like trade and other debtors and creditors, loan from banks and other third parties, loans to related parties

and investments in non-puttable ordinary shares.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and

short-term bank deposits with an original maturity of three months or less.

Financial assets that are measured at cost and amortised costs are assessed at the end of each reporting period for

objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in

the Profit and Loss Account.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

14,589

Additions

7,311,782

At 31 March 2020

7,326,371

NET BOOK VALUE

At 31 March 2020

7,326,371

At 31 March 2019

14,589

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

11,706

-

Other debtors

2,715

-

14,421

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,406

-

Taxation and social security

25,573

-

Other creditors

2,033,798

57,431

2,060,777

57,431

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Other creditors

3,874,168

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

3,874,168

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Other loans

3,874,168

-

The loans are secured on the properties to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10,000

Ordinary A

0.01

100

-

1,100

1,000

10,000 Ordinary A shares of 0.01 each were allotted as fully paid at a premium of 142.9675 per share during the

year.

10.	RELATED PARTY DISCLOSURES

The director has provided a loan of £1,988,117 to the company. The loan is interest free and repayable on demand.