Page Property and Financial Limited - Accounts to registrar (filleted) - small 18.2
Page Property and Financial Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2020 |
| for |
| Page Property and Financial Limited |
| Page Property and Financial Limited (Registered number: 08832845) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Chartered Accountants' Report | 7 |
| Page Property and Financial Limited |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Aston Court |
| Bromsgrove Technology Park |
| Bromsgrove |
| Worcestershire |
| B60 3AL |
| Page Property and Financial Limited (Registered number: 08832845) |
| Abridged Balance Sheet |
| 31 May 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
6 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| Page Property and Financial Limited (Registered number: 08832845) |
| Abridged Balance Sheet - continued |
| 31 May 2020 |
| 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 and authorised for issue on signed on its behalf by: |
| Page Property and Financial Limited (Registered number: 08832845) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Page Property and Financial Limited is a |
| 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 |
| Tangible fixed assets |
| Computer equipment | - |
| Investment property |
| In accordance with Financial Reporting Standard 102 Section 1a, investment property is included at fair value |
| and gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate |
| expected to apply when the property is sold. No depreciation is provided, which is a departure from the |
| Companies Act 2006, but is required to provide a true and fair view. The directors undertake an annual review of |
| valuations and seek independent professional valuations once every 5 years. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
| scheme are charged to profit or loss in the period to which they relate. |
| Rental income |
| Rental income arising from investment properties is accounted for on a straight line basis over the lease term. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| Page Property and Financial Limited (Registered number: 08832845) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 June 2019 |
| and 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2019 |
| Additions |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| The directors did not consider that the fair value of the properties had increased as at 31 May 2020. |
| 6. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS |
| 2020 | 2019 |
| £ | £ |
| Repayable otherwise than by instalments |
| Bank loans more 5 yrs non-inst |
| Page Property and Financial Limited (Registered number: 08832845) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 7. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| The Norwich & Peterborough Building Society hold a first legal charge over 13 Kings Road, Fareham and a |
| floating charge over the assets of the company. The directors have given guarantees limited to £135,000. The |
| Building Society also holds a fixed legal charge over 16 Wickham Road, Fareham. |
| The Newbury Building Society holds a fixed legal charge over 8 Bishopsfield Road, Fareham. Further, all |
| monies are guaranteed by the directors. |
| Axis Bank UK Limited hold a first legal charge over land at 3 Madison Court, Fareham and a first fixed charge. |
| 8. | CONTINGENT LIABILITIES |
| There were no known material contingent liabilities at the year end. |
| 9. | POST BALANCE SHEET EVENTS |
| There were no material post balance sheet events. |
| Chartered Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Page Property and Financial Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
| a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary |
| statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of Page Property and Financial Limited for the year ended 31 May 2020 which comprise the |
| Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and |
| from information and explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
| This report is made solely to the Board of Directors of Page Property and Financial Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Page Property and Financial Limited and state those matters that we have agreed to state to the Board of Directors of Page Property and Financial Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Page Property and Financial Limited and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Page Property and Financial Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Page Property and Financial Limited. You consider that Page Property and Financial Limited is exempt from the statutory audit requirement for the year. |
| We have not been instructed to carry out an audit or a review of the financial statements of Page Property and Financial Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 1 Aston Court |
| Bromsgrove Technology Park |
| Bromsgrove |
| Worcestershire |
| B60 3AL |