PPD Properties Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11196837

PPD Properties Ltd

Financial Statements

for the Year Ended 28 February 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

M Daly

P R Daly

Registered office:

5 Priory Lane

Bracknell

Berkshire

RG42 2JU

Registered number:

11196837

Accountants:

Haines Watts

Chartered Accountants

250 Fowler Avenue

Farnborough

Hampshire

GU14 7JP

Fixed assets

Tangible assets

3

2,006,368

550,350

Current assets

Debtors

4

14,178

6,270

Cash in hand

8,862

723,406

23,040

729,676

Creditors

Amounts falling due within one year

5

1,851,933

43,644

Net current (liabilities)/assets

(1,828,893

)

686,032

Total assets less current liabilities

177,475

1,236,382

Creditors

Amounts falling due after more than one year

6

(151,215

)

(1,195,707

)

Provisions for liabilities

(865

)

-

Net assets

25,395

40,675

Capital and reserves

Called up share capital

7

2

2

Retained earnings

8

25,393

40,673

Shareholders' funds

25,395

40,675

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 November 2022 and were signed on its behalf by:

P R Daly - Director

1.	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.

Going concern

The directors have identified no uncertainties that cast doubt about the ability of the company to continue as a going concern.

Turnover

Turnover comprises revenue recognised by the company in respect of rents receivable.

Tangible fixed assets

Tangible fixed assets comprise freehold property. Freehold property is not depreciated as the directors do not consider that depreciating the property will give a true and fair view of the value.

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.

2.	Employees and directors

The average number of employees during the year was 2 (2021 - 2 ) .

3.	Tangible fixed assets

Freehold

property

£

Cost

At 1 March 2021

550,350

Additions

1,456,018

At 28 February 2022

2,006,368

Net book value

At 28 February 2022

2,006,368

At 28 February 2021

550,350

4.

Debtors: amounts falling due within one year

2022

2021

£

£

Trade debtors

14,176

6,268

Other debtors

2

2

14,178

6,270

5.

Creditors: amounts falling due within one year

2022

2021

£

£

Taxation and social security

-

9,541

Other creditors

1,851,933

34,103

1,851,933

43,644

6.

Creditors: amounts falling due after more than one year

2022

2021

£

£

Bank loans

151,215

153,197

Other creditors

-

1,042,510

151,215

1,195,707

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

2

Ordinary

£1

2

2

8.

Reserves

Retained

earnings

£

At 1 March 2021

40,673

Deficit for the year

(15,280

)

At 28 February 2022

25,393