Pike Hall Developments Limited - Accounts to registrar (filleted) - small 18.2
Pike Hall Developments Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
PIKE HALL DEVELOPMENTS LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2021 |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
PIKE HALL DEVELOPMENTS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Exchange |
5 Bank Street |
Bury |
BL9 0DN |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2021 |
2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
STATEMENT OF FINANCIAL POSITION - continued |
31 OCTOBER 2021 |
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 |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
1. | STATUTORY INFORMATION |
Pike Hall Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 10596503 and its registered office address is The Exchange, 5 Bank Street, Bury, BL9 0DN. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The company had net assets of £5.1m (2020:£ 3.0m) and cash reserves of £3.47m (2020: £1.97m) at the year end. The director believes that the company is well placed to manage the risks at these challenging times and therefore continues to adopt a going concern basis of accounting in preparing these financial statements. |
Preparation of consolidated financial statements |
The financial statements contain information about Pike Hall Developments Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Determining the value of investment properties is considered a key judgement. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment property is shown at fair value determined by the director using observable market data and external valuations. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
2. | ACCOUNTING POLICIES - continued |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
Fixed asset investments |
Fixed asset investments are recognised at cost less any permanent diminution in value. |
Income from fixed asset investments |
Income from fixed asset investments is received in the form of dividends and is credited to the income statement when received. |
Rental income |
Rental income comprises the aggregate of the fair value of the rental services provided. Rental income is recognised as those services are provided to the occupants of the property. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2020 |
and 31 October 2021 |
NET BOOK VALUE |
At 31 October 2021 |
At 31 October 2020 |
PIKE HALL DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10596503) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 OCTOBER 2021 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 November 2020 |
and 31 October 2021 |
NET BOOK VALUE |
At 31 October 2021 |
At 31 October 2020 |
The investment properties have been valued by the director at fair value using observable market data as at 31 October 2021. |
The historic cost of the investment properties is £171,032 (2020: £171,032). |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Amounts owed by group undertakings |
7. | CURRENT ASSET INVESTMENTS |
2021 | 2020 |
£ | £ |
Listed investments | 1,126,884 | 517,386 |
The current asset have been valued by the director at fair value using market value as at 31 October 2021. |
The original cost of the current asset investment is £1m (2020: £500k). |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other creditors |