PFE Real Estate Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 10000985 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2020

for

PFE Real Estate Ltd

Page

Income Statement

1

Statement of Financial Position

2

TURNOVER

-

Other income

70,567

64,240

Other charges

(68,721

)

(69,439

)

Taxation

-

PROFIT/(LOSS)

1,846

(5,199

)

FIXED ASSETS

150

CURRENT ASSETS

1,832,922

1,771,057

CREDITORS

Amounts falling due within one year

(4,785

)

(3,900

)

NET CURRENT ASSETS

1,828,137

1,767,157

TOTAL ASSETS LESS CURRENT LIABILITIES

1,828,287

1,767,307

CREDITORS

Amounts falling due after more than one year

1,854,931

1,795,797

NET LIABILITIES

(26,644

)

(28,490

)

CAPITAL AND RESERVES

(26,644

)

(28,490

)

NOTES TO THE FINANCIAL STATEMENTS

1.	STATUTORY INFORMATION

Accounting Policies

Significant accounting policies

Statement of compliance

These financial statements have been prepared in compliance with FRS 105. The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.

The financial statements are prepared in sterling which is the functional currency of the company.

Fixed asset investments

The Company holds a 75% investment of 150 £1 ordinary shares in Dormy Cottage Limited.

2.	AVERAGE NUMBER OF EMPLOYEES

The average number of employees during the year was NIL (2019 - NIL).

3.	RELATED PARTIES

During the year the company entered into the following transactions with related parties:

Balance owed by/(owed to)

2020

2019

£

Dormy Cottage Inter-company Loan

1,832,822

1,767,307

PFE UK Ltd Inter-company Loan

(1,854,931)

(1,795,797)

Dormy Cottage Inter-company Loan

At the balance sheet date, debtors included £1,832,822 (2019 - £1,767,307) owed by Dormy Cottage Limited, a company registered in England and Wales. PFE Real Estate Limited owns 75% of the issued share capital in Dormy Cottage Limited.

PFE UK Ltd Inter-company Loan

At the balance sheet date, creditors included £1,854,931 (2019 - £1,795,797) owed to PFE UK Limited, a company registered in England and Wales. During the year, PFE UK Limited owns 100% of the issued share capital in PFE Real Estate Limited. On 15-02-2021, PFE UK Limited transferred all shares to Mr Toto Navarra.

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 in accordance with the micro-entity provisions.

The financial statements were approved by the director and authorised for issue on 11 June 2021 and were signed by:

Ms M S Costa - Director