Plymouth House Offices Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09862522 (England and Wales)

Unaudited Financial Statements

for the Period 1 April 2019 to 31 October 2019

for

PLYMOUTH HOUSE OFFICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P J Medlock

S J Medlock

SECRETARY:

A C Ambridge

REGISTERED OFFICE:

St Georges Lodge

33 Oldfield Road

Bath

Somerset

BA2 3NE

REGISTERED NUMBER:

09862522 (England and Wales)

ACCOUNTANTS:

Haines Watts

Chartered Accountants

6 - 8 Bath Street

Bristol

BS1 6HL

FIXED ASSETS

Tangible assets

4

13,461

11,936

Investments

5

357,985

357,985

Investment property

6

1,105,000

500,000

1,476,446

869,921

CURRENT ASSETS

Debtors

7

113,602

14,599

Cash at bank

9,519

167,212

123,121

181,811

CREDITORS

Amounts falling due within one year

8

(1,301,584

)

(810,828

)

NET CURRENT LIABILITIES

(1,178,463

)

(629,017

)

TOTAL ASSETS LESS CURRENT LIABILITIES

297,983

240,904

PROVISIONS FOR LIABILITIES

9

(30,193

)

(13,150

)

NET ASSETS

267,790

227,754

CAPITAL AND RESERVES

Called up share capital

10

200

200

Fair value reserve

128,714

64,205

Retained earnings

138,876

163,349

SHAREHOLDERS' FUNDS

267,790

227,754

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 2019 in accordance with Section 476 of the Companies Act 2006.

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.

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 Profit and loss account has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 24 July 2020 and were signed on its behalf by:

S J Medlock - Director

1.	COMPANY INFORMATION

Plymouth House Offices Limited 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small

Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and

Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary

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

The financial statements have been prepared on the historical cost convention. The principal accounting

policies adopted are set out below.

Going concern

The financial statements have been prepared on a going concern basis. The directors have a reasonable

expectation that despite the adverse effects COVID-19 is having on both the company and the economy as a

whole the company has adequate resources to continue in operational existence for the foreseeable future. On

this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing

the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts

receivable for goods and services provided in the normal course of business, net of discounts, VAT and other

sales related taxes.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation and

any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their

useful lives on the following bases:

Fixtures and fittings 25% reducing balance basis

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

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.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid

investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown

within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12

'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are

recognised when the company becomes party to the contractual provisions of the instrument. Financial assets

and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally

enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise

the asset and settle the liability simultaneously.

Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash

and bank balances, are initially measured at transaction price including transaction costs and are subsequently

carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows

from the asset expire or are settled, or when the company transfers the financial asset and substantially all the

risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are

retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an

unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings are

initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the

debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial

liabilities are derecognised when, and only when, the company's contractual obligations are discharged,

cancelled, or they expire.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account,

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 period 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 period was 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2019

15,915

Additions

3,823

At 31 October 2019

19,738

DEPRECIATION

At 1 April 2019

3,979

Charge for period

2,298

At 31 October 2019

6,277

NET BOOK VALUE

At 31 October 2019

13,461

At 31 March 2019

11,936

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2019

and 31 October 2019

357,985

NET BOOK VALUE

At 31 October 2019

357,985

At 31 March 2019

357,985

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

500,000

Additions

523,448

Revaluations

81,552

At 31 October 2019

1,105,000

NET BOOK VALUE

At 31 October 2019

1,105,000

At 31 March 2019

500,000

Fair value at 31 October 2019 is represented by:

£

Valuation in 2019

158,908

Cost

946,092

1,105,000

In the opinion of the directors the fair value of the investment property as at 31 October 2019 is £1,105,000.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Amounts owed by group undertakings

100,341

4,125

Other debtors

8,532

8,532

VAT

-

1,056

Prepayments and accrued income

4,729

886

113,602

14,599

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Trade creditors

8,400

-

Tax

31,528

34,403

VAT

397

-

Other creditors

667,400

187,400

Directors' current accounts

587,400

587,400

Accruals and deferred income

6,459

1,625

1,301,584

810,828

9.	PROVISIONS FOR LIABILITIES

2019

2019

£

£

Deferred tax

30,193

13,150

Deferred

tax

£

Balance at 1 April 2019

13,150

Provided during period

17,043

Balance at 31 October 2019

30,193

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2019

value:

£

£

200

Ordinary

£1.00

200

200

11.	RELATED PARTY DISCLOSURES

P J Medlock is the company's director. At the period end the company owed P J Medlock £387,400 (31 March

2019: £387,400). The loan is interest free and has no set date of repayment.

S J Medlock is the company's director and the director of Blue Scorpio Limited. At the period end the company

owed Blue Scorpio Limited £187,400 (31 March 2019: £187,400) and owed S J Medlock £200,000 (31 March

2019: £200,000). The loans are interest free and have no set date of repayment.

Hebron & Medlock Properties Limited is a wholly owned subsidiary company. During the period the company

advanced a further loan of £96,216. At the period end Hebron & Medlock Properties Limited owed the

company £100,341 (31 March 2019: £4,125). The loan is interest free and has no set date of repayment.