Pedro's Properties Limited - Limited company accounts 17.3

REGISTERED NUMBER: 08055140 (England and Wales)

Report of the Directors and

Unaudited Financial Statements for the Year Ended 31 August 2019

for

Pedro's Properties Limited

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P Fernback

A S Patterson

REGISTERED OFFICE:

Enterprise House

27 Hastings Road

Bromley

Kent

BR2 8NA

REGISTERED NUMBER:

08055140 (England and Wales)

The directors present their report with the financial statements of the company for the year ended 31 August 2019.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2018 to the date of this

report.

P Fernback

A S Patterson

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

P Fernback - Director

31 May 2020

TURNOVER

21,824

24,170

Cost of sales

17,440

11,880

GROSS PROFIT

4,384

12,290

Administrative expenses

665

1,178

OPERATING PROFIT

3,719

11,112

Interest receivable and similar income

-

2

3,719

11,114

Exceptional Items

-

(107,000

)

PROFIT BEFORE TAXATION

3,719

118,114

Tax on profit

(1,307

)

2,112

PROFIT FOR THE FINANCIAL YEAR

5,026

116,002

FIXED ASSETS

Tangible assets

5

278,500

CURRENT ASSETS

Debtors

6

10,601

18,080

Cash at bank

37,292

13,124

47,893

31,204

CREDITORS

Amounts falling due within one year

7

39,283

27,647

NET CURRENT ASSETS

8,610

3,557

TOTAL ASSETS LESS CURRENT
LIABILITIES

287,110

282,057

PROVISIONS FOR LIABILITIES

71

46

NET ASSETS

287,039

282,011

CAPITAL AND RESERVES

Called up share capital

2

Revaluation reserve

8

61,000

Retained earnings

226,037

221,009

SHAREHOLDERS' FUNDS

287,039

282,011

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 31 May 2020 and were signed on its behalf by:

P Fernback - Director

1.	STATUTORY INFORMATION

Pedro's Properties 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 NIL (2018 - NIL).

4.	EXCEPTIONAL ITEMS

31.8.19

31.8.18

£

Exceptional items

-

107,000

5.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1 September 2018

and 31 August 2019

278,500

NET BOOK VALUE

At 31 August 2019

278,500

At 31 August 2018

278,500

Cost or valuation at 31 August 2019 is represented by:

Land and

buildings

£

Valuation in 2017

217,500

Valuation in 2018

61,000

278,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

Trade debtors

274

596

Other debtors

10,327

17,484

10,601

18,080

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

Trade creditors

28

473

Taxation and social security

805

8,872

Other creditors

38,450

18,302

39,283

27,647

8.

RESERVES

Revaluation

reserve

£

At 1 September 2018

and 31 August 2019

61,000

9.	RELATED PARTY DISCLOSURES

At the year end Pedro's Properties Ltd was owed the following amounts from related parties;

Company

2019

2018

Blue Marlin Ltd

7,000

At the year end Pedro's Properties Ltd owed the following amounts from related parties;

Company

2019

2018

Brighton & Hove Pub Co Ltd

20,000

-