Preview Investments Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 02583019 (England and Wales)

Unaudited Financial Statements for the Year Ended 28th February 2022

for

Preview Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs V M Hall

REGISTERED OFFICE:

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

REGISTERED NUMBER:

02583019 (England and Wales)

ACCOUNTANTS:

Field & Co LLP

Central Chambers

227 London Road

Hadleigh

Benfleet

Essex

SS7 2RF

FIXED ASSETS

Investment property

4

690,000

670,000

CURRENT ASSETS

Cash at bank

124,593

108,644

CREDITORS

Amounts falling due within one year

5

205,291

214,842

NET CURRENT LIABILITIES

(80,698

)

(106,198

)

TOTAL ASSETS LESS CURRENT LIABILITIES

609,302

563,802

CREDITORS

Amounts falling due after more than one year

6

(273,111

)

(273,111

)

PROVISIONS FOR LIABILITIES

8

(8,550

)

(4,750

)

NET ASSETS

327,641

285,941

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

346,120

329,920

Retained earnings

10

(18,579

)

(44,079

)

SHAREHOLDERS' FUNDS

327,641

285,941

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 28th February 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 19th October 2022 and were signed by:

Mrs V M Hall - Director

1.	STATUTORY INFORMATION

Preview Investments 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st March 2021

670,000

Revaluations

20,000

At 28th February 2022

690,000

NET BOOK VALUE

At 28th February 2022

690,000

At 28th February 2021

670,000

Fair value at 28th February 2022 is represented by:

£

Valuation in 2020

645,000

Valuation in 2021

25,000

Valuation in 2022

20,000

690,000

If the freehold properties had not been revalued it would have been included at the following historical cost:

28/2/22

28/2/21

£

£

Cost

335,330

335,330

the freehold properties was valued on open market basis on 28th February 2022 by the director .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28/2/22

28/2/21

£

£

Trade creditors

-

529

Amounts owed to group undertakings

70,993

74,487

Taxation and social security

-

7

Other creditors

134,298

139,819

205,291

214,842

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28/2/22

28/2/21

£

£

Bank loans (see note 7)

273,111

273,111

28/2/22

28/2/21

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

273,111

273,111

7.

LOANS

An analysis of the maturity of loans is given below:

28/2/22

28/2/21

£

£

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

273,111

273,111

8.	PROVISIONS FOR LIABILITIES

28/2/22

28/2/21

£

£

Deferred tax

8,550

4,750

Deferred

tax

£

Balance at 1st March 2021

4,750

Provided during year

3,800

Balance at 28th February 2022

8,550

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28/2/22

28/2/21

value:

£

£

100

Ordinary Shares

£1

100

100

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st March 2021

(44,079

)

329,920

285,841

Profit for the year

41,700

41,700

Freehold property

(16,200

)

16,200

-

At 28th February 2022

(18,579

)

346,120

327,541

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Mrs V M Hall.