Period Country Properties Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 09568947 (England and Wales)

PERIOD COUNTRY PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2022

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTOR:

P G Longman

SECRETARY:

REGISTERED OFFICE:

Unit 4 Three Spires House

Station Road

Lichfield

Staffordshire

WS13 6HX

REGISTERED NUMBER:

09568947 (England and Wales)

ACCOUNTANTS:

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

The following reproduces the text of the report prepared for the director 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 Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2022 set out on pages two to four and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Four Oaks Taxation & Accounting Services Limited

Suite D, Astor House

282 Lichfield Road

Four Oaks

Sutton Coldfield

West Midlands

B74 2UG

31 October 2022

FIXED ASSETS

Tangible assets

4

25,581

31,976

Investments

5

100

101

Investment property

6

6,816,148

6,816,148

6,841,829

6,848,225

CURRENT ASSETS

Debtors

7

245,057

21,900

Cash at bank

6,491

15,899

251,548

37,799

CREDITORS

Amounts falling due within one year

8

1,065,338

794,194

NET CURRENT LIABILITIES

(813,790

)

(756,395

)

TOTAL ASSETS LESS CURRENT LIABILITIES

6,028,039

6,091,830

CREDITORS

Amounts falling due after more than one year

9

(451,975

)

(488,851

)

PROVISIONS FOR LIABILITIES

(362,468

)

(373,557

)

NET ASSETS

5,213,596

5,229,422

CAPITAL AND RESERVES

Called up share capital

1,800

1,800

Share premium

(435,838

)

(435,838

)

Fair value reserve

10

1,966,088

-

Retained earnings

3,681,546

5,663,460

SHAREHOLDERS' FUNDS

5,213,596

5,229,422

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2022 and were signed by:

P G Longman - Director

1.	STATUTORY INFORMATION

Period Country 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 as modified by the revaluation of certain assets.

Changes in accounting policies

It has been decided that no depreciation is to be provided on the listed buildings held on the balance sheet. This is due to their continual upkeep in order to carry out the trade. Therefore, feel there would be no diminution in value.

Tangible fixed assets

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

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.

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 (2021 - NIL).

4.	TANGIBLE FIXED ASSETS

Motor

vehicles

£

COST

At 1 February 2021

and 31 January 2022

62,454

DEPRECIATION

At 1 February 2021

30,478

Charge for year

6,395

At 31 January 2022

36,873

NET BOOK VALUE

At 31 January 2022

25,581

At 31 January 2021

31,976

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 February 2021

101

Disposals

(1

)

At 31 January 2022

100

NET BOOK VALUE

At 31 January 2022

100

At 31 January 2021

101

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2021

and 31 January 2022

6,816,148

NET BOOK VALUE

At 31 January 2022

6,816,148

At 31 January 2021

6,816,148

Fair value at 31 January 2022 is represented by:

£

Valuation in 2021

6,816,148

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed by group undertakings

243,357

-

Other debtors

1,700

21,900

245,057

21,900

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Hire purchase contracts

-

5,663

Amounts owed to group undertakings

-

152,495

Amounts owed to associates

-

636,036

Other creditors

1,065,338

-

1,065,338

794,194

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

451,975

451,975

Hire purchase contracts

-

36,876

451,975

488,851

10.

RESERVES

Fair

value

reserve

£

Transfer of fv reserve

1,966,088

At 31 January 2022

1,966,088

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2022 and 31 January 2021:

2022

2021

£

£

P G Longman

Balance outstanding at start of year

20,000

-

Amounts advanced

(541,826

)

20,000

Amounts repaid

(20,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(541,826

)

20,000

C Jackson

Balance outstanding at start of year

-

-

Amounts advanced

(166,853

)

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(166,853

)

-

The directors have both injected cash into the busienss this year, this will be repaid in the future as cashflow allows.

12.	RELATED PARTY DISCLOSURES

The non-director share-holders have both injected cash into the business this year, this will be repaid in the future as cashflow allows.These are included in other creditors

The balance owing is as follows

M Longman £203,805

K Jackson £152,854