P.D.M. Commercial Properties Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03016412 (England and Wales)

P.D.M. COMMERCIAL PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr. R W Mason

REGISTERED OFFICE:

Unit 1 91 Cathedral Road

Cardiff

CF11 9PG

REGISTERED NUMBER:

03016412 (England and Wales)

ACCOUNTANTS:

Carston Chartered Accountants

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Intangible assets

4

-

1,156

Tangible assets

5

60,517

20,932

Investment property

6

3,075,000

3,075,000

3,135,517

3,097,088

CURRENT ASSETS

Debtors

7

70,944

92,107

Cash at bank and in hand

349,890

372,061

420,834

464,168

CREDITORS

Amounts falling due within one year

8

79,333

63,511

NET CURRENT ASSETS

341,501

400,657

TOTAL ASSETS LESS CURRENT LIABILITIES

3,477,018

3,497,745

CREDITORS

Amounts falling due after more than one year

9

-

50,000

NET ASSETS

3,477,018

3,447,745

CAPITAL AND RESERVES

Called up share capital

1,896,501

1,896,501

Retained earnings

1,580,517

1,551,244

3,477,018

3,447,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 8th June 2022 and were signed by:

Mr. R W Mason - Director

1.	STATUTORY INFORMATION

P.D.M. Commercial 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 (2021 - NIL).

4.	INTANGIBLE FIXED ASSETS

Website

£

COST

At 1st April 2021

and 31st March 2022

3,468

AMORTISATION

At 1st April 2021

2,312

Amortisation for year

1,156

At 31st March 2022

3,468

NET BOOK VALUE

At 31st March 2022

-

At 31st March 2021

1,156

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1st April 2021

3,659

56,853

11,904

72,416

Additions

-

69,500

3,300

72,800

Disposals

-

(41,314

)

-

(41,314

)

At 31st March 2022

3,659

85,039

15,204

103,902

DEPRECIATION

At 1st April 2021

3,438

42,746

5,300

51,484

Charge for year

33

17,634

2,476

20,143

Eliminated on disposal

-

(28,242

)

-

(28,242

)

At 31st March 2022

3,471

32,138

7,776

43,385

NET BOOK VALUE

At 31st March 2022

188

52,901

7,428

60,517

At 31st March 2021

221

14,107

6,604

20,932

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2021

and 31st March 2022

3,075,000

NET BOOK VALUE

At 31st March 2022

3,075,000

At 31st March 2021

3,075,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

9,833

-

Other debtors

61,111

92,107

70,944

92,107

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

1,300

4,576

Taxation and social security

39,585

18,205

Other creditors

38,448

40,730

79,333

63,511

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

-

50,000